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Indian Markets Pare Early Losses
Fri, 10 Apr 03:30 pm

Indian markets pared their losses and gained to close the session on a flattish note. BSE Sensex gained at least 75 points and is trading lower by about 5 points, while NSE-Nifty is marginally up by 2 points. BSE Mid Cap gained over 0.4% gains while BSE Small Cap garnered gains over 1%. Healthcare sector, which weighed on the Indian markets since morning gained positive momentum and is currently trading with a flattish tone. Metals and consumer durables have gained the most in today's trading session.

Commodities eroded morning losses and are trading with significant gains since mid-session. While the gold prices, per 10 grams, gained 0.7% or Rs 180; silver prices, per kilogram, gained 1.5% or Rs 550. Gold prices are trading near Rs 26,700 levels, while silver prices are trading near Rs 36,800 levels. Crude oil extended losses as it traded lower by 2% or Rs 70. Per barrel, crude oil is available at Rs 3,146 levels. The Dollar currency pared early gains and is trading slightly above by 0.14% or 0.09. The value of Indian Rupee stands at Rs 62.33 against the U.S Dollar.

The pharmaceutical sector stocks fell by about 1% today; however, they recouped towards the end. Sun Pharma, which had lost over 1% in the morning trade recovered all its losses by the end. Pharma major, Biocon received an approval from the Mexican health authority for Insulin Glargine. The company will partner PiSA Farmaceutica to market and sell Insulin Glargine as an affordable product for diabetes management. Following these developments shares of Biocon had gained as much as 1% in the morning session, but the gains were quickly eroded as the stock closed on a flat note.

" style="color:blue" target="_blank">Automobile sector managed to remain on the positive side of the trading session as it received mixed sales for the month of March from the data disclosed by the Society of Indian Automobile Manufacturers (SIAM). Domestic passenger sales group increased by 2.64% or 176,011 units in March compared to 171,491 units recorded last year, same month. On the negative side, sales of motorcycles fell over 5% to 859,521 units compared to 906,901 units recorded last year. Vehicles of all categories witnessed a slight decline of 0.15% from the month of March. However, on fiscal basis, vehicles sales registered a growth of over 7%.

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