3:30 pm Market Closing: Benchmark indices reversed some of previous day’s gains amid sell-off in last hour of trade.

The 30-share BSE Sensex was down 44.43 points at 33,307.14 and the 50-share NSE Nifty declined 15.80 points to 10,226.90.

About 1,588 shares declined against 1,120 advancing shares on the BSE.

3:18 pm Form 483: The US Food and Drug Administration has issued a Form 483 with 5 observations for Medak unit (Telangana) of Dr Reddy’s Labs.

These observations are related to procedures and facility maintenance.

The stock lost more than 1.5 percent.

3:12 pm Increase in Deposit Rates: Bank of Baroda has raised most bulk deposit rates by 25-125 bps and most term deposit rates by 10-35 bps, reports CNBC-TV18 quoting Cogencis.

3:10 pm Plant Approval: Panacea Biotec said it has received Establishment Inspection Report (EIR) from US FDA for its Baddi formulation facility in Himachal Pradesh indicating the formal closure of the inspection.

Panacea’s Baddi facility manufactures oncology injectables and oral solid dosage formulations.

The facility is critical for Panacea’s US generic business as the company filed number of abbreviated new drug applications (ANDAs) from the site, that include products already approved and products under various stages of getting USFDA’s nod.

3:00 pm Market Check: Equity benchmarks have turned negative in the final hour of trade, with the Nifty trading around 10,200-mark.

The Sensex is down 31.39 points or 0.09% at 33320.18, and the Nifty down 10.30 points or 0.10% at 10232.40. The market breadth is negative as 1040 shares have advanced, 1547 shares declined, and 185 shares are unchanged.

2:35 pm HOCL to sale Rasayani land to BPCL: Shares of Hindustan Organic Chemicals (HOCL) locked at 5 percent upper circuit as company board will consider sale of Rasayani land to BPCL.

The company’s board meeting will he held on March 16, to consider sale of 242 acres of company’s land to BPCL and transfer of Kharghar land to NALCO.

2:20 pm Europe Update: European markets were slightly lower, as investors reacted to President Donald Trump’s decision to impose global duties on metal imports.

2:10 pm Gold Update: Gold prices fell by Rs 100 to Rs 31,350 per 10 grams at the bullion market today in tandem with a weakening global trend amid sluggish demand from local jewellers.

Silver also drifted down by Rs 115 to Rs 39,385 per kg due to reduced offtake by industrial units and coin makers.

Traders said sentiment remained bearish on the back of a weak trend overseas as the US dollar bounced from a near three-week low against the euro after European Central Bank President Mario Draghi signalled that any policy normalisation in the euro zone would be very gradual.

source: moneycontrol.com