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Midcap & small cap out of favour
Wed, 21 Jan 01:30 pm

Indian share markets continued to firm up in the post-noon trading session. Sectoral indices are trading mixed with consumer durables & engineering stocks being the biggest gainers. Metal and FMCG stocks are among the major losers today.

BSE-Sensex is up 109 points and NSE-Nifty is trading 28 points up. Both BSE Mid Cap and BSE Small Cap indices are trading down by 0.3%. The rupee is trading at 61.57 to the US dollar.

Most of the domestic pharma stocks are trading in the red with Natco Pharma and Panacea Biotech being the biggest losers. Sun Pharma and Indoco remedies are among the few stocks trading in the green today. As per a leading financial daily, Aurobindo Pharma has initiated a Class II nation-wide recall of Gabapentin capsules from the US markets. The said drug has been recalled on complaints of empty capsules. Gabapentin is used as an anticonvulsant and analgesic. Aurobindo Pharma stock is currently trading down marginally.

Telecom stocks are trading mixed today. While Tata Teleservices is leading the gainers; Reliance Communications is leading the losers. As per a leading financial daily, Bharti Airtel has awarded a US$ 200 m contract to Nokia Networks to build the India's first 4G network. The network will be built on Bharti's 1,800 MHz spectrum band, in 6 circles. The circles to be covered are Mumbai, MP, West Bengal, Odisha, Punjab and Kerala. Currently, all 4G networks in the country run on the 2,300 MHz band. Nokia Networks already manages Airtel's 4G network in Maharashtra and will expand its operations to other circles. Further details of the deal were not disclosed. Bharti Airtel is trading up 3.5% today.

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