The Asian stock markets have opened the day on a mixed note with stock markets in Hong Kong (up 0.7%) and Taiwan (up 0.5%) leading the gains. However, stock markets in Japan (down 1.9%) and Korea (down 0.2%) are the leading losers. The Indian share markets have opened ona flat note. The sectoral indices have opened mixed with stocks in the software and oil and gas sectors leading the losses, while stocks from power and healthcare sector are the leading gainers.
The Sensex today is down by around 23 points (0.08%), while the NSE-Nifty is up by about 2 point (0.02%). The mid cap and small cap stocks have opened in the green with BSE Mid Cap index and BSE Small Cap index up by 0.2% and 0.3% respectively. The rupee is currently trading at Rs 62.16 to the US dollar.
As per the financial daily, the government will conduct electronic auction for the mines in the schedule III category (ready to produce) between February 25 to March 5. Reportedly, the government has put 40 more coal mines on offer for auction and allotment, of which 26 blocks would go to the power sector. The electronic auction process is expected to be transparent and done in efficient manner, since it will be conducted online
Indian pharma stocks have opened in the green with Torrent pharma and Biocon Ltd leading the gains. As per a leading financial daily, Indian drug-makers are frequently facing various issues from USFDA regulators on the manufacturing front. Hence the government has requested the US health watchdog FDA to allow its officials during inspections of domestic pharma units. Indian pharma companies have been facing pressure in the recent times owing to various import alerts issued by the US regulator. This has hit the profitability and margins of the Indian players.