Closing Bell: Sensex ends 218 points lower, Nifty below 10,550; midcaps see a big fall

It’s a negative end for the market for this week as tomorrow is a trading holiday on account of Guru Nanak Jayanti.

The Nifty has given up 10,550-mark.

Among sectors, financials, consumption, energy, metals and pharma saw the most losses, while selling was visible in the midcaps space.

Adani Ports, TCS, and Zee Entertainment were the top gainers, while M&M, Tata Steel, and Grasim lost the most.

At the close of market hours, the Sensex was down 218.78 points or 0.62% at 34981.02, while the Nifty was lower by 73.20 points or 0.69% at 10526.80. The market breadth was negative as 1093 shares advanced, against a decline of 1489 shares, while 153 shares were unchanged.

Cadila Health Zydus gets US FDA nod for atorvastatin calcium tablets

D-Street Buzz: Metal stocks fall led by Hindalco, NMDC; M&M sheds 3%, SAIL hits new 52-week low

The breadth of the market favoured the declines with 771 stocks advancing and 916 declining while 376 remained unchanged. On the BSE, 1166 stocks advanced, 1327 declined and 169 remained unchanged.... Read More

State election verdict, RBI policy in focus for market ahead: Anand Rathi

Globally almost all the markets like commodity, currency, bond and equity have been very volatile in the last two-three months.... Read More

Zydus Cadila has received the final approval from the USFDA to market Atorvastatin Calcium Tablets in the strengths of 10 mg, 20 mg, 40 mg and 80 mg (US RLD — Lipitor).

It will be manufactured at the group’s formulations manufacturing facility at Moraiya, Ahmedabad.

Atorvastatin is used along with a proper diet to help lower badcholesterol and fats (such as LDL, triglycerides) and raise goodcholesterol (HDL) in the blood.

How a rules-based system can help you become a successful trader

There are many ways of trading at the market and all of them are good. Conversely, there is no one strategy that can be considered the best over a long period of time.... Read More

The Indian rupee appreciated further in afternoon, trading at day's high on falling oil prices.

Weakness in dollar against some currencies,increased selling of the greenback by exporters & banks, andpersistent foreign fund inflows also supported the rupee.

The currency was trading at 71.04 against the US dollar,up 42 paise or 0.6 percent after hitting day's high of 71.02 a dollar and low of 71.20.

Oil and Natural Gas Corporation (ONGC) has been ordered to pay about Rs 242 crore to the Mumbai Port Trust (MbPT) as wharfage compensation for the transportation of crude oil through the two pipelines the company had laid within the limits of the state-run port.

In a regulatory filing, state-owned ONGC said it is examining the admissibility of the claim.

The Tariff Authority for Major Ports (TAMP) passed an order for wharfage compensation payable by ONGC on October 3, 2018.

TAMP order stated that "ONGC shall pay to MbPT a compensation at one half of wharfage rate as applicable on the per tonne of crude oil which will be imported into the port of Mumbai through all or any of the ONGC pipelines." Source: PTI

Royal Enfield maker Eicher Motors shares fell a percent intraday after Investec slashed target price on the stock by 13.4 percent to Rs 30,300 from Rs 35,000 earlier following cut in earnings estimates.

The research house trimmed its EPS estimates by 3 / 1 percent for FY19/20 primarily to factor in impact of strike, but it has maintained buy call on the stock.

Indoco Remedies shares were locked in 20 percent upper circuit at Rs 206.40 after company's Goa Plant II & III cleared the US health regulator's inspection.

The US Food and Drug Administration (USFDA) inspected Indoco's sterile facility (Plant II) and solid dosages facility (Plant III) situated in Goa from November 14-21, 2018.

"The inspection concluded with Indoco receiving 2 minor observations, none of which are repeat in nature," the pharma company said in its filing.

This facility had received a warning letter from the USFDA in March 2017.

Hemang Jani, Head - Advisory, Sharekhanby BNP Paribas said the markets are facing a number of headwinds both on the micro as well as the macro level. US China trade wars pose a threat of slowing down global growth also the upcoming general and state elections will keep the Indian markets volatile.

On the earning front Q2 has been lacklustre mainly due to higher raw material costs. Oil prices declining due to oversupply issues comes as a big relief to India and will keep the fiscal deficit in check for the time being.

Investors looking to create a long term portfolio should use any dips in the market to get into quality names where valuations remains reasonable

Finance Minister Arun Jaitley has begun a briefing on Cabinet Meeting decisions.