Monday, 10 August 2015

Sensex, Nifty consolidate; Syngene jumps 23%, FMCG falls




The market continued to consolidate in morning trade. The Sensex fell 13.96 points to 28087.76 and the Nifty declined 8.05 points to 8517.55, dragged by FMCG, capital goods, select banks and metals stocks. The broader markets, too, remained flat.

Syngene International, the research arm of biotechnology major Biocon, started off trade at Rs 295 on Tuesday, up 18 percent compared to issue price of Rs 250 apiece on the National Stock Exchange. The stock was trading at Rs 304.35, up 21.74 percent over issue price after rallying as much as 23.2 percent to touch an intraday high of Rs 308.30.

Shares of ICICI Bank, Tata Motors, HDFC Bank, ITC, HDFC, HUL, L&T, Sun Pharma, BHEL, Tata Steel and NTPC fell 0.5-1.5 percent while Infosys, TCS, SBI and Cipla gained more than 1 percent.

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