Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

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

Market close flat in a short week
Thu, 17 Apr Closing

After a weak session yesterday, Indian equity markets began the day's proceedings on a positive note. The subsequent hours saw the indices scale higher as buying activity continued across index heavyweights. The momentum was maintained in the final trading hour as well and the indices closed well above the dotted line. While the BSE Sensex today closed higher by 352 points, the NSE-Nifty closed higher by 104 points. The BSE Mid Cap and BSE Small Cap also did well and notched gains of 1% each. Gains were largely seen in auto, banking and oil & gas stocks.

As regards global markets, Asian indices closed mixed today while the European indices have also opened mixed. The rupee was trading at Rs 60.39 to the dollar at the time of writing.

Most pharma stocks closed firm today with the key gainers being Cipla, Sun Pharma and Dr.Reddy's. As per a leading business daily, Dr.Reddy's has launched Eszopiclone drug in the US market post the approval received from the USFDA. Eszopiclone is the generic version of Lunesta and is used for the treatment of insomnia. Sunovion Pharmaceuticals Inc is the owner of the drug. According to IMS Health, Lunesta tablets and generics combined had US sales of about US$ 887 m for the 12 months ended January 2014. This is a positive for the company and will enhance its sales from the highly competitive US generics market. It must be noted that given the intense competition in the US market, Dr.Reddy's has put in place a strategy of not only launching new products but also focusing on those drugs that are in a niche category. Niche drugs typically have higher barriers to entry and so the competition and price erosion is not very high.

Telecom stocks closed in the positive today with the key gainers being Bharti Airtel and Idea Cellular. The Supreme Court (SC) has ruled that the books of any telecommunications company can be audited by the Comptroller and Auditor General of India (CAG), an order that has the potential to affect all private firms that pay the government to use public resources. According to the SC, the scrutiny by the government auditor is necessary to ensure the exchequer gets its legitimate share of the revenue generated from public resources. The apex court modified an earlier verdict of the Delhi high court that allowed the CAG to conduct statutory audit of only the telcos' revenue. India's telecom services firms had moved the Supreme Court in January on grounds that they were private companies and not under the jurisdiction of CAG, the public auditor tasked with auditing accounts of government agencies and schemes.

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


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Market close flat in a short week". Click here!

  

Related Views on News

SUN PHARMA Announces Quarterly Results (3QFY21); Net Profit Up 87.4% (Quarterly Result Update)

Feb 1, 2021 | Updated on Feb 1, 2021

For the quarter ended December 2020, SUN PHARMA has posted a net profit of Rs 19 bn (up 87.4% YoY). Sales on the other hand came in at Rs 88 bn (up 8.4% YoY). Read on for a complete analysis of SUN PHARMA's quarterly results.

SUN PHARMA 2019-20 Annual Report Analysis (Annual Result Update)

Dec 11, 2020 | Updated on Dec 11, 2020

Here's an analysis of the annual report of SUN PHARMA for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of SUN PHARMA. Also includes updates on the valuation of SUN PHARMA.

SUN PHARMA Announces Quarterly Results (2QFY21); Net Profit Up 66.9% (Quarterly Result Update)

Nov 6, 2020 | Updated on Nov 6, 2020

For the quarter ended September 2020, SUN PHARMA has posted a net profit of Rs 19 bn (up 66.9% YoY). Sales on the other hand came in at Rs 86 bn (up 5.3% YoY). Read on for a complete analysis of SUN PHARMA's quarterly results.

SUN PHARMA 2018-19 Annual Report Analysis (Annual Result Update)

Aug 6, 2019 | Updated on Aug 6, 2019

Here's an analysis of the annual report of SUN PHARMA for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of SUN PHARMA. Also includes updates on the valuation of SUN PHARMA.

More Views on News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps (Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Make Rs 5,000 Per Day Trading the Market (Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

The Hidden Tesla in My Great Indian Wealth Project (Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE TECK


Mar 4, 2021 (Close)

S&P BSE TECK 5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS