MARKETS LIVE: Sensex down 100 pts as Fed raises rate, signals more hike

Representational ImageEuro zone bond markets brace for ECB shift, stimulus scheme nears end   European government bond yields in the euro area edged up on Thursday as the European Central Bank prepared to debate whether to end its unprecedented stimulus scheme this year.   On Wednesday the US Federal Reserve raised interest rates as expected, and signalled two more hikes this year, citing higher inflation. READ MORE Gold futures up by 0.31% to Rs 31,239 on global cues Gold prices went up by 0.31 per cent to Rs 31,239 per 10 grams in futures trade today as speculators built up fresh positions, taking positive cues from overseas markets. At the Multi Commodity Exchange, gold for delivery in August month rose by Rs 96, or 0.31 per cent to Rs 31,239 per 10 grams in business turnover of 511 lots. READ MORE Reliance Industries hits new high, gains 10% in 3 weeks   Reliance Industries (RIL) hit a new high of Rs 1,011.70 up 1% on the BSE in noon deal, surpassing its previous high of Rs 1010.70 recorded on April 27, 2018 in intra-day trade.   In past three weeks, RIL has outperformed the market by surging 10% as compared to 4% rise in the S&P BSE Sensex. READ MORE Reliance Industries After 2 yrs of muted sales, United Spirits eyes double-digit growth in FY19   The United Spirits stock has shed 15 per cent from its highs earlier this year, mainly owing to regulatory uncertainty weighing on the sentiment of the liquor sector. Demonetisation, and the ban on sale of liquor near state and national highways, besides issues related to the implementation of the goods and services tax, were among the headwinds.   The company reported a sales growth of just 3.8 per cent in FY17 and a fall of 4.5 per cent in FY18. READ MORE Alembic Pharma up 8% as USFDA approves Doxycycline Hyclate capsules   Alembic Pharmaceuticals has moved higher by 8% to Rs 530, bouncing back 11% from early morning low on the BSE after the company announced that it has received US drug regulator’s approval Doxycycline Hyclate capsules USP, 50 mg and 100 mg. The stock hit an intra-day low of Rs 478 in early morning trade.   “The company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Doxycycline Hyclate Capsules USP, 50 mg and 100 mg,” Alembic Pharma said in a press release. READ MORE Market Check S&P BSE Sensex 35,615.40 -0.35%   Nifty 50 10,801.35 -0.51%   S&P BSE 200 4,684.64 -0.33%   Nifty 500 9,346.90 -0.42%   S&P BSE Mid-Cap 16,027.31 -0.31%   S&P BSE Small-Cap 17,026.08 -0.02%
Source: Business Standard