Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Indian Indices Gain Momentum
Wed, 30 Mar 01:30 pm

After opening the day on a firm note, the Indian indices gained momentum and registered further gains in the post-noon trading session. Sectoral indices are trading on a positive note with stocks from the banking, metal and realty sectors leading the gains.

The BSE Sensex is trading up 330 points (up 1.3%) and the NSE Nifty is trading up 108 points (up 1.4%). The BSE Mid Cap index is trading up 1.4% while the BSE Small Cap index is trading up by 1.6%. Gold prices, per 10 grams, are trading at Rs 28,797 levels. Silver price, per kilogram is trading at Rs 36,795 levels. Crude oil is trading at Rs 2,596 per barrel. The rupee is trading at 66.35 to the US$.

Stocks in the healthcare space are trading on a positive note with Piramal Enterprises and Lupin leading the gains.

As per a leading financial daily, Sun Pharmaceuticals has announced acquisition of 14 established prescription brands from Novartis AG and Novartis Pharma AG in Japan.

According to the agreements entered between the parties, a wholly-owned subsidiary of Sun Pharma will acquire the portfolio consisting of 14 established prescription brands from Novartis for a cash consideration of US$293 million (Rs 19 billion).

It was reported that these 14 brands have combined annualised revenues of approximately US$160 million and address medical conditions across several therapeutic areas.

The acquired brands will be marketed by a reliable and established local marketing partner under the Sun Pharma label.

As per the terms of the agreements, Novartis will continue to distribute these brands for a certain period, pending transfer of all marketing authorisations to Sun Pharma's subsidiary.

With this aforesaid acquisition, Sun Pharma will be able to gain a strong foothold in Japan, the world's second largest drug market after the US.

One shall note that the above deal marks Sun Pharma's second association with Japan. Earlier, the company had acquired Ranbaxy Laboratories from Japan's Daiichi Sankyo in 2014.

The above development will surely help Sun Pharma diversify its global presence and further provide a window to widen its product portfolio in the future. To know our view on the stock of the company, you can read our result analysis of the company here (subscription required).

Presently the stock of the company is trading up by 2.2%.

Energy stocks are also trading on a positive note with Hindustan Oil Exploration and GAIL witnessing maximum buying interest.

In another news update it was reported that consumption of liquefied natural gas (LNG) rose 19% in February on a YoY basis.

According to the oil ministry's Petroleum Planning and Analysis Cell (PPAC), India consumed 3,175 million metric standard cubic meters (mmscm) of natural gas in February, compared with 2,666 mmscm in the year-ago period.

The rise in consumption was seen as consumers widened their buying activity of LNG on the back of lower rates. Also, it was noted that much of the consumption growth came from increased imports of LNG that jumped to 1,788 mmscm in February from 1,100 mmscm a year ago.

However, PPAC reported that the gas consumption declined 0.8% for the 11 months this fiscal.

One shall note that natural gas prices have fallen drastically in recent years. To know the recent movements in natural gas prices, you can read the weekly update from the Daily Profit Hunter team here. The roundup tracks developments in the global economy as well as currency and commodity markets.

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

Read the latest Market Commentary

Equitymaster requests your view! Post a comment on "Indian Indices Gain Momentum". Click here!


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Jan 22, 2018 (Close)