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Market Live: Nifty turns flat after opening at record high; | The GRS Solution

The GRS Solution | Market Live: Nifty turns flat after opening at record high:-

Shares of Glenmark Pharma gained 2 percent intraday on the back of final approval for Desonide Ointment from USFDA. The GRS Solution

Glenmark Pharmaceuticals Inc, USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Desonide Ointment, 0.05%, the generic version of Desonide Ointment, 0.05%, of Perrigo New York Inc.
The Desonide Ointment has achieved annual sales of approximately USD 23.4 million, as per IMS Health sales data for the 12 month period ending July 2017.
9:25 am FII View: Mahesh Nandurkar of CLSA said meetings with investors at the CLSA Investors' Forum revealed that India has not remained as much of an overweight market today as it used to be 12-24 months ago.
Foreign flows have been weak and continued strong domestic flows have helped market performance and valuations, which he believes will continue to be the case in the visible future.
He said a process of slow normalisation post GST is now underway and should partially help the September quarter results.
Low base should help YoY performance in the subsequent three quarters, he added.
Nandurkar said the research house remained optimistic that housing-led capex recovery is around the corner.
9:15 am Market Check: The NSE Nifty turned flat after opening at fresh record high on Tuesday as investors looked for cues from two-day monetary policy meeting of Federal Reserve that will begin tonight.
The 30-share BSE Sensex was up 8.83 points at 32,432.59 and the 50-share NSE Nifty gained 6.20 points at 10,159.30.
Gas stocks like GAIL, Gujarat Gas and Indraprastha Gas gained 2-4 percent after Morgan Stanley said gas demand is on secular growth path supported by benign gas prices and favourable government policies.
Biocon, Bharat Gears, Divis Labs, Dixon Technologies, Autolite, TVS Electronics, Graphite India, HEG and ADF Foods rallied up to 10 percent.
InterGlobe Aviation, Bharat Road Network and Mirc Electronics fell up to 6 percent.

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