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Pharma stocks lead among gainers
Mon, 6 Apr 01:30 pm

Indian share markets fluctuated around the dotted line in the mid-trading session. Among sectoral indices, the most noticeable upward movement has been witnessed in the FMCG and Healthcare sectors while Metal and Banking stocks witnessed maximum selling pressure.

The Sensex today is trading marginally up by 30 points while the NSE-Nifty is up by around 11 points. Mid cap and small cap stocks are trading in the green, with the S&P BSE Midcap and S&P BSE Smallcap indices up by 0.6% and 1% respectively. The rupee is trading at Rs 62.15 to the US dollar.

Barring GSK Pharma, majority of the Healthcare stocks are trading in the green with Aurobindo Pharma and Glenmark Pharma being the leading gainers. According to a leading financial source, Aurobindo Pharma has received approval from the US health regulator to manufacture and market Sildenafil injection. These injections are used to treat pulmonary arterial hypertension. The product will be marketed and sold by Aurobindo's wholly owned subsidiary AuroMedics Pharma LLC. Following this news development, shares of Auriobindo Pharma jumped as much as 5% to hit high of Rs 1,313 on the Bombay Stock Exchange.

Energy stocks are trading on a mixed note today. Chennai Petroleum and MRPL were leading the pack of gainers while Guj. State Petronet and Gujarat Gas witnessed maximum profit booking. According to a leading financial daily, ONGC Videsh is among three dozen global energy majors vying for oil and gas blocks in Mexico. ONGC Videsh, the overseas subsidiary of State owned ONGC is pitched against US majors Exxon Mobile and Chevron. Reportedly, blocks on offer may hold prospective resources and are estimated at 3.7 bn barrels of oil equivalent. Mexico is expecting USD 50 bn investments through opening up its exploration sector to private and foreign players by 2018. ONGC Videsh Limited has interests in 33 oil and gas assets in 16 countries. The scrip of ONGC was up by 2.4% on the BSE at the time of writing.

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Jan 17, 2018 (Close)