Indian markets pared losses and showed some strength in the second half of the trading session. BSE-Sensex lost about 20 points while NSE-Nifty has lost about 3 points. S&P BSE Midcap stocks has shown a movement towards moderate losses while S&P BSE Smallcap remained the most out of favour. S&P BSE Midcap and S&P BSE Smallcap lost over 0.3% and 1%, respectively. Commodities pared early gains. Gold price is trading on a flat note with minor losses of 0.10% or Rs 25 at Rs 25,860 levels per 10 grams. However, silver prices continue to show strength. Price per kilogram has increased about 0.60% or Rs 188 and is trading at Rs 35,700 levels. Value of the Indian Rupee against the US Dollar declined by 0.3% or 0.16 and is trading at Rs 62.80 levels.
Investor confidence towards the European markets increased as ECB's bond Purchase Program continue to infuse optimism among investors. European markets like DAX and FTSE are trading in the green with gains of 0.9% and 0.5%, respectively.
The pharmaceutical sector has advanced moderately in today's trading session. Suven Life Science led from the front with respect to gains. Shares of the company gained over 10% after it received 2 product patents or chemical entities from the US and New Zealand. According to the company the chemical entity is for central nervous system therapy. This therapy has been acquired through an innovative mechanism known as H3 Inverse agonist. There a series of discover made by Suven Life Sciences under the name of H3 ligands. Including these, Suven now has 20 patents approved by the USA and 23 approved by New Zealand.
Power stocks has traded with volatility today. However, shares of Diamond Power gained 20% after the company acquired an order from Assam and Nagaland Government. The order is reported to be worth Rs 3.32 billion. Company said that in last 12 months Diamond Power has received orders worth aggregating to Rs 20.34 billion.