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Market Live: Sensex, Nifty open higher, Dr Reddy’s Labs shares rise 7%

LiveMint logoLiveMint 01-09-2017 Livemint

Mumbai: The BSE Sensex opened higher on Friday against the previous session’s closing. The broader NSE’s Nifty, too, rose in the morning hours. The Indian rupee opened little changed against the US dollar. Shares of pharmaceutical companies rose, whereas TCS and HDFC shares fell. Here are the latest updates:

9.33am: BSE Sensex trades higher by 54 points, or 0.17%, to 31,785, while the Nifty 50 rises 18 points, or 0.18%, to 9,936.

9.30am: Dr Reddy’s Laboratories Ltd rose 7% to Rs2,158.50 after Nasdaq-listed Vivus Inc entered into a settlement agreement with the company to resolve a long-pending patent litigation related to weight management capsules Qsymia. According to a statement issued by the US-based drug maker, the litigation, pending since 2015, resulted from the submission of an abbreviated new drug application (Anda) by Dr Reddy’s seeking approval to market generic versions of Qsymia.

9.25am: Bajaj Auto Ltd rose 2% to Rs2,862.90 after the company reported a 3% increase in its August sales to 3.35 lakh units from 3.25 lakh units a month ago.

9.20am: Welspun Enterprises Ltd rose 4.4% to Rs142.10 after the company said it got Rs1,161 crore order from National Highways Authority of India (NHAI).

9.18am: Strides Shasun Ltd rose 2% to Rs925.55 after the company said its Bangalore unit got establishment inspection report from US drug regulator.

9.15am: The rupee opened at 63.95 a dollar. At 9.15am, the rupee was trading at 63.93 a dollar, down 0.04% from its Thursday’s close of 63.91.

9.10am: The 10-year bond yield was at 6.5% compared to its previous close of 6.525%. Bond yields and prices move in opposite directions.

9.00am: Asian currencies were trading higher. South Korean won was up 0.46%, China offshore 0.25%, Taiwan dollar 0.22%, China renminbi 0.17% and Philippines peso 0.11%. However, Malaysian ringgit was down 0.1%.

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