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Tue, 26 Feb 09:30 am

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Asian stock markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.1% while the Hang Seng is down 0.5%. The Nikkei 225 is trading down by 0.2%. Wall Street's three major indices ended higher on Monday but well below the session's highs after President Donald Trump said he would delay a planned hike in tariffs on Chinese imports.

Back home, India share markets opened on a weak note after Pakistan claimed that the Indian Air Force (IAF) has violated the Line of Control (LoC), following which the former "scrambled" immediately. Pakistan's claim comes in the wake of tense relations between the two countries in the aftermath of the Pulwama terror attack.

The BSE Sensex is trading down by 220 points while the NSE Nifty is trading down by 50 points. The BSE Mid Cap index and BSE Small Cap index opened down by 0.4% & 0.3% respectively.

All sectoral indices have opened on a negative note with consumer durables stocks and realty stocks witnessing maximum selling pressure.

The rupee is currently trading at Rs 70.84 against the US$.

In the news from the economy. As per an article in a leading financial daily, the flow of foreign direct investment into India is dropping and may suffer its first full-year decline since Prime Minister Narendra Modi came to power in 2014.

The reversal from strong numbers in Modi's initial years in charge may indicate that investors are being deterred by the government's recent protectionist policies and uncertainty about this year's general election result.

Inbound foreign direct investment (FDI) dropped 7% to US$33.5 billion in the nine months between April and December 2018, compared with US$36 billion in the year-earlier period.

Walmart last year invested US$16 billion in buying 77% of Flipkart. It is unclear how much of that deal is reflected in the latest FDI data.

The FDI figures, which haven't been produced for about six months and have elicited little attention as they were released without fanfare over the weekend, exclude reinvestment of profits by foreign companies already in India as well as new investment through the capital markets, the reports noted.

Note that, the FDI into India exceeded that into China in 2018.

2018: The Year When India Beat China in FDI

That is a testament of the fact that India's foreign investment policies and business environment are finally competing with that of its Oriental neighbour.

The biggest deal that drove FDI flows to India was Walmart's US$16 billion buyout of Flipkart.

Apart from ecommerce and the digital payments boom, the new bankruptcy framework is also attracting foreign investors with deep pockets.

India aims to receive US$ 100 billion in foreign direct investment (FDI) in the next two to three years.

Special industrial clusters are being created for countries like Japan, South Korea, China, and Russia where their companies can invest and operate.

Moving on to the news from pharma sector. As per an article in a leading financial daily, Lupin has received USFDA approval for Methylprednisolone Tablets USP, 2 mg, 4 mg, 8 mg, 16 mg and 32 mg.

Lupin's Methylprednisolone Tablets are the generic version of Pharmacia and Upjohn Company's Medrol Tablets.

It is indicated to treat Endocrine Disorders, Rheumatic Disorders, Collagen Diseases, Dermatologic Diseases, Allergic States, Ophthalmic Diseases, Respiratory Diseases, Hematologic Disorders, Neoplastic Diseases, Edematous States, Gastroint estinal Diseases, Acute exacerbations of multiple sclerosis, etc.

Methylprednisolone Tablets had annual sales of approximately US$ 114.3 million in the US (IQVIA MAT December 2018).

To know more about the company, you can access to Lupin's Q2FY19 result analysis and Lupin's 2017-18 Annual Report Analysis on our website.

Lupin share price opened the day down by 0.2%.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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