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Sensex Trades Marginally Higher, Dow Futures Up by 53 Points
Thu, 6 May 12:30 pm | Ayesha Shetty, TM Team

Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 191 points, up 0.4% at 48,868 levels.

Meanwhile, the NSE Nifty is trading up by 78 points.

Hero MotoCorp and Tata Steel are among the top gainers today. UPL and Asian Paints are among the top losers today.

Both the BSE Mid Cap and BSE Small Cap index are trading up by 0.4%.

On the sectoral front, barring the healthcare sector, all sectors are trading in green with stocks from the metal sector, witnessing most of the buying interest.

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up by 24 points (up 0.2%) while Dow Futures are trading up by 53 points (up 0.2%)

The rupee is trading at 73.89 against the US$.

Gold prices are trading up by 0.5% at Rs 47,225 per 10 grams.

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In domestic markets, gold prices were trading higher in early trade today tracking a positive trend in international spot prices. On the Multi-Commodity Exchange (MCX), June gold contracts were up by 0.3% at Rs 47,122 per 10 grams.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Moving on to stock specific news...

Among the buzzing stocks today is Cipla.

In an exchange filing, Cipla has announced that it will market and distribute a product used to treat Covid-19 infections made by pharmaceutical firm Roche. Roche Holding has received restricted emergency use approval from the Indian drug regulator for the product, a cocktail of the antibodies Casirivimab and Imdevimab.

Approval was granted based on data that have been filed for emergency use in the US, and the scientific opinion of the Committee for Medicinal Products for Human Use in the European Union, Cipla said.

The product will be used to treat mild to moderate Covid-19 in adults and paediatric patients (12 years of age or older, weighing at least 40 kg) who are confirmed to be infected with SARS-COV2 and are at high risk.

"Neutralising antibody cocktails like Casirivimab and Imdevimab can play a role in the fight against Covid-19 and in treatment of high-risk patients before their condition worsens," V Simpson Emmanuel, managing director of Roche Pharma India, was quoted as saying.

The drug will be available through leading hospitals and Covid-19 treatment centres in India.

In March, Roche said a large phase III global trial in high-risk non-hospitalised Covid-19 patients met its primary endpoint, which showed Casirivimab and Imdevimab significantly reduced the risk of hospitalisation or death by 70% compared to placebo.

The antibody cocktail also significantly shortened the duration of symptoms by four days, Cipla said.

Last month Cadila Healthcare received restricted emergency use approval from the Indian drug regulator for its Pegylated Interferon Alpha-2b, or Virafin, for treating moderate Covid-19 infection in adults.

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How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

At the time of writing, shares of Cipla were trading down by 0.1% on the BSE.

Speaking of the stock markets, Brijesh Bhatia, Research Analyst at Fast Profits Report, talks about why he is bullish on sugar stocks, in one of his latest videos for Fast Profits Daily.

Tune in here to find out more:

In news from the software sector...

Wipro Partners with Transcell Oncologics to Transform Vaccine Safety Assessment

Wipro has partnered with Transcell Oncologics to transform vaccine safety assessment using augmented intelligence. This partnership combines Transcell's innovative stem cell technology with the advanced augmented intelligence capabilities of Wipro HOLMES to improve the safety of global vaccine immunization programmes.

By applying augmented intelligence to the vaccine development process, the solution can predict adverse neurovirulent impacts resulting from vaccinations, said Wipro in a press release. Currently, vaccine safety assessment often includes testing on animals to measure adverse impacts.

Using Wipro HOLMES instead, researchers and biopharmaceutical companies have a new and fully viable solution and alternative. Wipro HOLMES can also be integrated into any existing workflow, including quality control tests in vaccine production, batch-wise release and other safety evaluation assays.

This partnership would expand the Wipro HOLMES solutions available to life science companies for drug repurposing and messenger ribonucleic acid (mRNA) based platform for biodefense. It enables the testing of new vaccines by applying augmented intelligence to stem cell research and measuring safety and potency.

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This is the first in a series of next-generation solutions that the partnership will offer to determine the safety and efficacy of a wide range of products from vaccines to prescription medications, cosmetics and more.

"Enhancing neurovirulence safety assessment through augmented intelligence is a huge step forward in vaccine research and development. This innovative technology allows life science companies and vaccine manufacturers to develop, trial and release safer and more effective vaccines for people around the world," Harmeet Chauhan, Global Head, Engineering and R&D, Wipro, was quoted saying.

Dr Subhadra Dravida, Founder CEO, Transcell, said, deriving new and advanced insights from the use of stem cells in an in vitro setting transforms vaccine safety assessment and this breakthrough process would lead to new medical treatments and accelerate innovation and vaccine availability that is vital to saving lives.

We will keep you posted on updates from this space. Stay tuned.

Speaking of the stock markets, a right investing process can help you win in the long term. It might offer some unexpected and undesirable results in the short term but lets you fare well when you average the outcomes.

According to Richa Agarwal, Senior Research Analyst at Equitymaster, any investment process should not be judged based on individual outcomes. Instead, it should have stood the test of the time.

Her smallcap service Hidden Treasure has had its fair share of failures. But sticking to a disciplined process meant that Hidden Treasure's internal rate of return (IRR) increased to 24.38% since inception. This compares favorably to the IRRs of 9.6% for the Sensex, and 8.8% for the smallcap index in the same period (February 2008 - June 2020) as can be seen in the chart below.

The service's performance did suffer in the short term after the 2018 crash in smallcaps. However, the long term track record and the post Covid rebound underscores the strength of stock picking process.

If you are interested in becoming a Hidden Treasure subscriber, here's where you can sign up.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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Stock Market Updates

Sensex Rises Over 100 Points, Dow Futures Trade Flat (Today's Market)

Jun 11, 2021 12:30 pm

BSE Sensex is trading up by 187 points, while the NSE Nifty is trading up by 36 points.

CIPLA at All Time High; BSE HEALTHCARE Index Up 0.3% (Today's Market)

Jun 11, 2021 11:20 AM

CIPLA share price has hit an all time high at Rs 982 (down 0.3%). The BSE HEALTHCARE Index is up by 0.3%. Among the top gainers in the BSE HEALTHCARE Index today are CIPLA (down 0.4%) and SANOFI INDIA (up 0.4%). The top losers include ERIS LIFESCIENCES and IPCA LABS (down 0.1%).

MPHASIS Share Price Up by 5%; BSE IT Index Up 0.8% (Today's Market)

Jun 11, 2021 10:30 AM

MPHASIS share price is trading up by 5% and its current market price is Rs 2,069. The BSE IT is up by 0.8%. The top gainers in the BSE IT Index are MPHASIS (up 5.0%) and ECLERX SERVICES (up 20.0%). The top losers are WIPRO (down 0.4%) and FIRSTSOURCE SOLUTIONS (down 3.6%).

WIPRO at All Time High; BSE IT Index Up 0.5% (Today's Market)

Jun 11, 2021 09:44 AM

WIPRO share price has hit an all time high at Rs 556 (down 0.3%). The BSE IT Index is up by 0.5%. Among the top gainers in the BSE IT Index today are WIPRO (down 1.2%) and L&T INFOTECH (up 1.2%). The top losers include HEXAWARE TECHNOLOGIES and PERSISTENT SYSTEMS (down 0.2%).

CIPLA at All Time High; BSE HEALTHCARE Index Up 0.3% (Today's Market)

Jun 11, 2021 09:44 AM

CIPLA share price has hit an all time high at Rs 979 (up 0.3%). The BSE HEALTHCARE Index is up by 0.3%. Among the top gainers in the BSE HEALTHCARE Index today are CIPLA (up 0.3%) and ABBOTT INDIA (up 0.2%). The top losers include SUN PHARMA ADV. RES. (down 0.1%) and WOCKHARDT (down 0.1%).

Sensex Opens 250 Points Higher; Coal India & Power Grid Top Gainers (Today's Market)

Jun 11, 2021 09:30 am

Indian share markets open higher. The BSE Sensex opened up by 248 points, while the Nifty is trading higher by 75 points.

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