Sensex Opens Flat; Divis Lab Rallies 17%

Asian stock markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.17% while the Hang Seng is down 0.04%. The Shanghai Composite is trading down by 0.52%. US equities closed mostly higher on Wednesday after the US Federal Reserve kept interest rates unchanged.

Back home, India share markets have opened the day on a flattish note. The BSE Sensex is trading higher by 30 points while the NSE Nifty is trading higher by 6 points. The BSE Mid Cap and BSE Small Cap index opened the day up by 0.6% & 0.3% respectively.

All sectoral indices have opened the day in green with banking sector and realty sector leading the pack of gainers. The rupee is trading at 64.77 to the US$.

Divis Lab share price rallied 17.7% in the early trade on the reports that USFDA will be lifting the Import Alert 66-40 and moving to close out the Warning letter issued to the company’s Unit-II at Visakhapatnam.

Automobile stocks are witnessing buying interest today with only GTL Ltd trading in red. Automobile sales of most manufacturers cooled in October as dispatches to dealers moderated after the festive season ended. Auto firms in India count dispatches to dealerships as sales.

The top five passenger vehicles makers-Maruti Suzuki India Ltd, Hyundai Motor India Ltd, Mahindra and Mahindra Ltd, Honda Cars India Ltd, and Tata Motors Ltd sold a cumulative 238,838 units in the month, up 3.7% from a year ago.

Sales Lose Momentum

Market leader Maruti Suzuki India Ltd led sales in the month. The local arm of the company sold 135,128 units, up 9.3% over a year ago.

While Tata Motors and Toyota Kirloskar Motor saw modest improvement in volume, Hyundai Motor posted a 0.9% fall in sales and Honda Cars sold 8.6% fewer cars than a year earlier.

At Ford Motor, sales fell as much as 43.8%, but the American automaker said this was because of a production rejig ahead of the launch of the new EcoSport which affected wholesale numbers.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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