As per provisional closing data, the barometer index, the S&P BSE Sensex lost 134.02 points or 0.34% at 38,845.15. The Nifty 50 index rose 0.7 points or 0.01% at 11,516.75.

The broader ended on a mixed note. The S&P BSE Mid-Cap index rose 0.26% while the S&P BSE Small-Cap index slipped 0.32%.

The market breadth was negative. On the BSE, 1317 shares rose and 1423 shares fell. A total of 170 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 249.82 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,067.83 crore in the Indian equity market on 17 September, provisional data showed.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 30,071,314 with 9,44,887 deaths. India reported 10,17,754 active cases of COVID-19 infection and 84,372 deaths while 41,12,551 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Economy:

The Reserve Bank has decided to conduct purchase of Government securities under Open Market Operations (OMOs) for an aggregate amount of Rs 10,000 crores on 24 September 2020. Accordingly, RBI will purchase Government securities through a multi-security auction using the multiple price method. These include 6.97% GS 2026, 6.45% GS 2029 and 6.68% GS 2031 for Rs 10000 crores. The Reserve Bank reserves the right to decide on the quantum of purchase of individual securities.

Buzzing Index:

The Nifty Bank index slumped 1.61% to 21,960.35. The index has lost 2.72% in two trading days.

Kotak Mahindra Bank (down 2.57%), Bandhan Bank (down 2.47%), HDFC Bank (down 2.33%), IDFC First Bank (down 2.19%), RBL Bank (down 2.15%), Punjab National Bank (down 2.11%), SBI (down 2.02%) and Federal Bank (down 1.99%) were top losers in banking index.

Stocks in Spotlight:

Dr. Reddy's Laboratories soared 10.02%. The drug major announced settlement of U.S. Revlimid (lenalidomide) capsules patent litigation with Celgene. In settlement of all outstanding claims in the litigation, Celgene has agreed to provide Dr. Reddy's with a license to sell volume-limited amounts of generic lenalidomide capsules in the U.S. beginning on a confidential date after March 2022 subject to regulatory approval. The agreed-upon percentages are confidential. Dr. Reddy's is also licensed to sell generic lenalidomide capsules in the U.S. without volume limitation beginning on 31 January 2026. Revlimid is a trademark of Celgene, a wholly owned subsidiary of Bristol Myers Squibb.

TVS Motor Company gained 0.27% after the two-wheeler maker on Thursday announced its new distribution partnership with Autotecnica Colombiana SAS (Auteco SAS), a leading motorcycle assembler in Colombia. Auteco SAS will operate 50 dealerships exclusive to TVS Motor Company and create dedicated space for the brand in over 600 retail outlets. Auteco SAS will support TVS Motor with dedicated sales, service, spares and customer relationship management (CRM). It will also provide the brand with an assembly set-up in Cartagena along with a dedicated training centre.

Lupin rallied 4.74% while Cipla jumped 7.42%. Perrigo Company, the Dublin-based maker of over-the-counter and generic health products, already halted production and distribution of the aerosols. These actions are being taken out of an abundance of caution as a result of complaints that some units may not dispense due to clogging. Perrigo's generic albuterol sulfate inhalation aerosol was developed in partnership with and manufactured by Catalent Pharma Solutions.

Hindalco Industries rose 3.24% while Hindustan Copper (HCL) was up 0.2%. Hindalco Industries on Thursday signed an agreement to procure copper concentrate from state-owned Hindustan Copper. HCL is the only producer of copper concentrate in India. Under this MoU, Hindalco will use about 60% of copper concentrate produced by Hindustan Copper. This partnership is a major step towards import substitution and reducing the nation's dependence on imported copper concentrate.

Hindustan Zinc fell 0.95% after the company proposed to raise Rs 4000 crore by offering debentures in one or more tranche. The company proposes to offer Rated, Unsecured, Redeemable, Non-Cumulative, Non-Convertible Debentures aggregating upto Rs 4,000 crore in one or more tranches.

Sterling and Wilson Solar (SWSL) fell 1.85%. The company announced that it has signed an order of 106.71 MW worth about Rs 462 crore in Chile. The order has been received from a global independent power producer (IPP), work for which is expected to begin in Q4 FY 2021. SWSL has a strong presence in the region with one project of 93.3 MW in Argentina and three projects of 588 MW under construction in Chile.

Global Markets:

European markets were trading mixed on Friday as investors monitored a rise in coronavirus cases across the continent.

The Bank of England (BoE) on Thursday kept its benchmark interest rate at 0.1% and it left unchanged the size of its bond-buying programme at 745 billion pounds ($966 billion). BoE hinted that it may consider cutting interest rates below zero for the first time in its history as the economy faces a surge in coronavirus infections and the risk of a no-deal Brexit.

The World Health Organization's (WHO) regional director for Europe on Thursday warned of a "very serious situation" unfolding in Europe. Weekly cases have now exceeded those reported when the pandemic first peaked in Europe in March, said WHO's Hans Klug.

Asian shares advanced on Friday following pledges by central bankers globally to do whatever it takes to support the economic recovery.

US stocks fell on Thursday as technology-related shares slid for a second day. Facebook and Amazon were down 3.3% and 2.3%, respectively. Netflix closed 2.8% lower. Alphabet dropped 1.7% while Apple and Microsoft were both down at least 1%. Snowflake, an IPO which captivated Wall Street on Wednesday as it doubled in its debut, was off by 10.4%.

US President Donald Trump said on late Wednesday that the U.S. could distribute a vaccine as early as October, contradicting the director of the Centers for Disease Control and Prevention, who told lawmakers earlier in the day that vaccinations would be in limited quantities this year and not widely distributed for six to nine months.