Nifty flat; Natco Pharma falls over 9%
The rupee weakened by 24 paise to quote at 66.88 against
the dollar in early trade on Monday at the Interbank Foreign Exchange
market on month-end demand for theAmerican currency from importers and banks.
Sensex was down 26 points at 25,310. Nifty was trading 4.70 points down at
7,711.80.
Benchmark indices wiped off their opening gains and were trading
in red. Sensex was down 17.94 points at 25319. Nifty was trading 0.25 points
down at 7,716.25. Natco Pharma shares were trading 9.36 per cent down at Rs
424.50. Natco Pharma on Sunday said it has received “minor”
observations by US Food & Drug Administration (USFDA) following recent
inspections at its two facilities and they will not have an adverse impact
on its current or future products.BSE
Sensex opened 79.55 points up at 25417.11, while NSE Nifty 50 index
opened 24.50 points up at 7,741.
The
BSE Sensex and NSE Nifty are likely to open higher on Monday tracking Nifty
futures on the Singapore Stock Exchange (SGX Nifty) and firm Asian markets.
(IST), SGX Nifty was trading 10 points, or 0.13 per cent, up at 7,695.50.Asian
stocks edged higher on Monday after fairly strong consumer spending led to an
upward revision in US economic growth in the fourth quarter, helping to underpin
investor sentiment.
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