Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Stock market indices nosedive
Wed, 7 Mar 01:30 pm

Indian stock markets continued to see-saw on either side of the dotted line amidst rising volatility. After opening in the red, the indices recovered briefly but have fallen again on sustained sell-off across heavyweights. Majority of the sectoral indices are in the red. Metal, oil & gas and power stocks are the biggest losers. IT and healthcare stocks are the only gainers.

The BSE-Sensex is trading down 107 points and NSE-Nifty is trading down 34 points. Both BSE Mid cap and BSE Small cap indices are down by 0.7% each. The rupee is trading at 50.50 to the US dollar.

Indian pharma stocks are trading mixed. Piramal Healthcare and J B Chemicals are the biggest gainers whereas Elder Pharma and Panacea Biotech are the biggest losers. As per a leading financial daily, Ranbaxy has announced the launch of the generic version of Atorvastatin tablets in Italy, Sweden and Netherlands. The launch comes on the back of settlement agreement with Pfizer permitting it to launch the product ahead of the patent expiry period. The German subsidiary of the company had launched Atorvastatin Basics, a generic version of the cholesterol lowering drug Sortis in Germany. Assisted by Daiichi Sankyo, Ranbaxy would be launching Atorvastatin in Germany backed by rights to early entry entered with Pfizer. Reportedly, the company had launched Atorvastatin in the US market in November 2011 with 180 days of marketing exclusivity and in Australia in February 2012 with 3 months exclusivity. The stock is down 0.5%.

Majority of the automobile stocks are trading in the red. Maruti Suzuki and Escorts are the biggest losers. As per a leading financial daily, Tata Motors wants to commercially launch its global range extended electric vehicle Megapixel in around three years time-frame. The four-seater is expected to deliver 100 km per litre of fuel by using a unique combination of technology. The vehicle uses a combination of lithium ion phosphate battery along with petrol-engine generator for recharging on the move. As per the company, the car will offer a range of upto 900 km with a single fuel tank and fuel economy of 100 km/litre using only battery power. The car was unveiled at the Geneva Motor Show. The stock is marginally up.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Stock market indices nosedive". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.