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Indian Markets Finish on a Strong Note
Wed, 8 Apr Closing

Indian markets opened strong following international cues. The Indian markets extended their gains as the Union government cleared the real estate bill. BSE-Sensex ended the day with gains of nearly 190 points while NSE-Nifty ending with gains of over 50 points. Banks were the only sector which faced losses in today's trading session. FMCG and IT companies led from the front in terms of gains. S&P BSE Midcap and S&P BSE Smallcap companies minted profits in the second session as well. While the midcap companies gained about 0.6% in today's trading session; smallcap companies gained about 1.8%, touching a 7 year high level in the process.

Commodities are trading with mixed sentiments as gold prices fell 0.06% or Rs 15 while silver prices gained slightly by 0.07% or Rs 26. While gold prices, per 10 grams, is available at Rs 26,860 levels; silver prices, per kilogram is available at Rs 37,700 levels. Crude oil prices continue to trade with losses of 0.82% or Rs 27. Per barrel, crude oil is available at Rs 3,300 levels. The Dollar value against the Indian rupee, like commodities, is oscillating between small gains and small profits. The Indian rupee against the U.S Dollar trades at Rs 62.27; up 0.03% or 0.02.

European markets have opened and are trading with weakness. German DAX, France's CAC and Euro Stoxx are trading with losses of 0.4%, 0.1% and 0.34%, respectively. However, FTSE's index is trading with moderate gains of 0.6%. Retail Sales data for Euro zone met investors' expectation yet remained negative. Retail Sales fell on a MoM basis by 0.2% worse than previous reading of 0.9%. The Euro currency gained traction after the expectations were met. Euro's value against the Indian currency is Rs 67.65, up 0.44% or 0.30.

Healthcare sector finished today's trading session with slight gains after gaining ground in first two days of the week. Glenmark Pharmaceuticals' subsidiary, which was in the midst of a pricing investigation got concluded today. Texas Attorney General USA was the lead investigator in this pricing investigation. According to the settlement terms and conditions, Glenmark Pharma will be liable to pay USD 1.6 mn every quarter for 16 quarters. Additionally, State of Texas will also be liable to receive USD 11.25 mn. Moreover, the fees and costs will also be taken care by Glenmark which amounts to about USD 2.5 mn. Shares of the company, however, gained about 4.7% in today's trade.

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Jan 22, 2018 03:33 PM