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Indian Markets Pare Early Gains
Fri, 27 Mar 01:30 pm

Indian markets pared early gains as BSE-Sensex fell over 100 points and NSE-Nifty fell over 40 points in the mid-sessions. All the sectoral indices turned red apart from the IT sector which is trading with impressive gains of over 1%. FMCG, Healthcare and oil and gas have suffered the maximum losses. S&P BSE Midcap and S&P BSE Smallcap stocks have underperformed. While the midcap stocks fell over 1 %, smallcap stocks fell nearly 0.8% in today's session.

Commodities are trading with slight losses after posting robust gains owing to the war in Yemen. Gold prices, per 10 grams, fell nearly 0.3% or Rs 79 and are available at Rs 26,722 levels. Silver prices, per kilogram, fell 0.33% or Rs 126 and are available at Rs 38, 487 levels. Crude oil prices lost 2% after gaining by nearly 10% this week. Per barrel, crude oil prices fell Rs 65 and are available at Rs 3,188. The Indian rupee against the US Dollar declined about 0.14% or 0.09. Currently, the value of Indian Rupee against the U.S Dollar stands at Rs 62.58.

Capital goods are trading on sidelines between small losses and gains. Welspun Corp and L&T are, however, the top gainers in today's session. Shares of Larsen & Toubro gained over 1% after the company secured Rs 17.11 bn order across various segments. The company said that of the secured order Rs 8.8 bn is attributable towards building factory business while Rs 6.76 bn is attributable towards constructing power transmission and distribution businesses.

Healthcare companies have lost over 1.5% is today's trade. Leading pharma companies such Sun Pharma and Lupin have lost over 1% in the mid-session. Share prices of Cadila Healthcare are trading with slight losses of 0.3%. The company said that it acquired the remaining 50% stake in Zydus BSV, which is owned by Bharat Serums and Vaccines. Post this 50% stake acquisition, Zydus BSV has become a 100% subsidiary of Cadila Healthcare. Zydus BSV deals in manufacturing and selling approved anti-cancer agents on a global basis.

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