Dr Reddy’s Labs and Sun Pharma are the top losers on both indices, while gains are seen in auto stocks such as Bajaj Auto and Tata Motors.

10:15 am Pharma stock in focus: Pharmaceutical names have witnessed a weak 2018 so far, with sectoral index down around 5 percent so far. On Monday too, led by cuts in heavyweight names such as Dr Reddy’s and Sun Pharmaceuticals, pharma indices were trading lower.

10:10 am New Listing: Market debutant Aster DM Healthcare listed at a discount of around 4 percent on the exchanges on Monday.

The stock listed at Rs 183 on the National Stock Exchange against the upper band of its issue price of Rs 190.

The healthcare services provider’s issue was oversubscribed 1.3 times on the last day, as per data available on the NSE website.

10:05 am Market Check: The market has extended its gains from opening tick and is witnessing an upmove of over half a percent.

The Sensex is up 185.56 points or 0.54% at 34327.71, while the Nifty is up 56.00 points or 0.53% at 10547.00. The market breadth is positive as 1432 shares have advanced, against a decline of 537 shares, while 158 shares are unchanged.

Dr Reddy’s Labs and Sun Pharma are the top losers on both indices, while gains are seen in auto stocks such as Bajaj Auto and Tata Motors.

9:57 am Sterlite Tech gains: Share price of Sterlite Technologies added more than 10 percent in the early trade on Monday on the back of order win worth Rs 3500 crore.

The company has been awarded Rs 3500 crore advance purchase order to design, build and manage the Indian Navy’s communications network.

This will give the Indian Navy digital defence supremacy at par with the best naval forces globally.

9:42 am Simbhaoli Sugars, OBC plunger 9-20%: Shares of Oriental Bank of Commerce and Simbhaoli Sugars lost 9-20 percent intraday on Monday as investors turned cautious post developments of a likely fraud involving the sugar firm.

9:30 am Buzzing Stock: Shares of Dr Reddy’s Laboratories slipped 4 percent in early trade on Monday after the USFDA maintained OAI status for the company’s Srikakulam plant.

source: moneycontrol.com