Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks


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

Buying activity fuels Indian indices
Wed, 10 Jun Closing

Despite negative international cues, the Indian stock markets gained momentum throughout the day led by buying activity across index heavyweights. While the BSE-Sensex closed higher by around 359 points, the NSE-Nifty closed higher by around 103 points. The S&P BSE Midcap and the S&P BSE Smallcap also did well to notch gains of 1% each. Gains were largely seen in auto, IT and capital goods stocks.

As regards to major global markets, European shares dropped for a seventh straight session to trade near a 3-1/2 month low. Asian markets finished broadly lower today with shares in Hong Kong bearing majority of the brunt. The Hang Seng is down 1.09%, while Japan's Nikkei 225 is off 0.25% and China's Shanghai Composite is lower by 0.15%. The rupee was trading strong at RS 63.88 against the American dollar in the afternoon session.

According to a leading financial daily, Sun Pharmaceutical Industries has marked its entry into the branded Ophthalmology segment in the US. Sun Pharma Advanced Research Company (SPARC) has licensed out Xelpros (Latanoprost BAK-free eye drops) to a subsidiary of Sun Pharmaceutical Industries for the US market. This is a part of Sun Pharma's strategy to strengthen its presence in the US specialty segment. In addition to the up-front payment of US$ 3 m, SPARC will receive certain other milestone payments, both totaling to US$ 16 m from Sun Pharma. It is also eligible for certain defined royalties and additional milestone payments linked to the actual sales performance of Xelpros. In December 2014, the USFDA had issued a Complete Response letter to SPARC for its New Drug Application (NDA) for Latanoprost BAK-free eye drops.

Shares of Punjab National Bank (PNB) surged over 1.2% after it was reported that the company has inked a Memorandum of Understanding (MoU) with the Indian Army for Defence Salary Package. The first MoU between PNB and the Indian Army was signed in 2011 and was valid for a period of three years. The MoU is custom made to suit the requirements of serving soldiers, pensioners and families. Besides, number of additional facilities have been incorporated in the revised MoU after due consultation between Bank & Army authorities. Some features which have been improved from the previous MoU are that the Personal Accidental Insurance cover has been extended to Rs 200,000 and Rs 500,000 from Rs 50,000 and Rs 200,000 respectively.

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

Equitymaster requests your view! Post a comment on "Buying activity fuels Indian indices". Click here!


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Jan 19, 2018 (Close)