#Market #Live: Indices shrug off losses, #Nifty above 10,200 led by IT #stocks

Shares of Infosys, HDFC, and Indiabulls Housing are the top gainers, while Tata Steel, Coal India, and Dr. Reddy’s Laboratories have lost the most.

Dr. Reddy launches the drug in US market: Dr. Reddy's Laboratories announced the launch of Atomoxetine Capsules, USP, a therapeutic equivalent generic version of Strattera (atomoxetine) Capsules in the United States market approved by the US Food and Drug Administration (USFDA).

Jefferies on Info Edge: Research house maintained hold rating with the target at Rs 1,375 per share. Q2 beat in 99Acres and in-line performance by Naukri offset by weakness in other business.

  

Market Update: The market is trading volatile on Wednesday with Nifty trading around 10,150 marks, while Sensex is down over 50 points.

The Sensex is down 69.35 points or 0.20% at 33821.78, while the Nifty down 15.20 points or 0.15% at 10183.20. About 1002 shares have advanced, 1090 shares declined, and 1551 shares are unchanged. 

Infosys, HDFC, IndusInd Bank, Sun Pharma, and Axis Bank are the top gainers on the Sensex.

Strides Pharma Q2 result: The company's consolidated net loss at Rs 5.3 crore against the profit of Rs 26.5 crore. Revenue was down 4.7 percent at Rs 732.6 crore versus Rs 768.7 crore, YoY.

The exceptional loss at Rs 7.4 crore versus loss of Rs 12.3 crore.

  

Buy Gujarat Ambuja Exports: Gujarat Ambuja Exports has been consolidating in the range of Rs 180-230 from the last four months. In this month we have observed fresh breakout in the prices, said Shitij Gandhi of SMC Global Securities.

Currently, the stock has formed a bullish flag pattern on the daily charts and is on the verge of a breakout above the same.

The positive divergence on secondary indicators like RSI and stochastic also suggest for further upside in prices moving forward. Traders can accumulate the stock in a range of Rs 235-240 for the upside target of Rs 261 and a stop loss below Rs 220, he added.

Result reaction: Shares of Tech Mahindra rose 3 percent after its Q2 consolidated net profit jumped 19 percent to Rs 1,064 crore from Rs 898 crore.

The revenues rose 4 percent at Rs 8,630 crore against Rs 8,276 crore during the previous quarter.

Market Update Sudden selling has gripped D-Street as the Sensex is trading over 200 points lower. The Nifty has given up 10,150.

The Sensex is down 214.93 points or 0.63% at 33676.20, while the Nifty is down 75.60 points or 0.74% at 10122.80. The market breadth is negative as 789 shares advanced, against a decline of 870 shares, while 1,983 shares were unchanged.

Shares of Infosys, HDFC, and Indiabulls Housing are the top gainers, while Tata Steel, Coal India, and Dr. Reddy’s Laboratories have lost the most.

Here are the two big newsmakers on Tuesday morning. Shares of Tata Global are down around 7 percent, while Cummins India has risen 12 percent as investors are reacting to their September quarter results announcement.   

Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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