Barring Taiwan (down 0.2%), all major Asian stock markets have opened the day on a firm note with stock markets in Hong Kong (up 2%) and Japan (up 1%) leading the gains. The Indian share markets have opened the day on a firm note as well. Barring the IT and healthcare stocks, all sectoral indices are trading firm with metal and consumer durables stocks leading the gains.
The Sensex today is up by around 62 points (0.2%), while the NSE-Nifty is up by about 12 points (0.14%). Mid and small cap stocks are also trading in the green with the S&P BSE Midcap and S&P BSE Smallcap indices up by around 0.4% and 0.05% respectively. The rupee is currently trading at Rs 62.56 to the US dollar.
Indian pharma stocks are trading mixed with Sun pharma and JB chemicals witnessing maximum selling pressure while Ipca and Divis are the leading gainers. As per a leading financial daily, Japan's Daiichi Sankyo will be selling off stake in Sun Pharmaceuticals. Sun Pharma had recently completed the acquisition of Ranbaxy from Daichii Sankyo. As the part of the deal, Daichii had received 8.9% stake of Sun Pharma. However Daichii board has approved to sell off its stake and exit from Sun Pharma. Daichii has kickstarted the sale of shares yesterday. Sun Pharma stock is down by 7%
Mining stocks have opened on a firm note with Gujarat NRE coke and Coal India being the leading gainers. As per the financial daily, Coal India is looking for another stake sale after its recent stake sale of 10%, which helped the government to fetch in Rs 226 bn, through this divestment. The government will likely divest another 5% stake in the company during this fiscal. This move will reduce the centre's stake to 75% in Coal India.