Sensex Erases Gains to Finish Flat; IT Stocks Drag

Tue, 13 Jun Closing

   Previous Close   

   Pre-Open   

   09:30 am   

   11:30 am   

   01:30 pm   

Share markets in India pared initial gains in the final hours of trade to end flat for the day. At the closing bell, the BSE Sensex closed higher by 8 points. While, the NSE Nifty finished lower by 10 points. Meanwhile, the S&P BSE Midcap Index ended flat while the S&P BSE Small Cap Index ended up by 0.4%.

Sectoral indices finished the day on a mixed note with information technology sector and metal sector witnessing maximum selling pressure. While realty stocks and power stocks finished the day in green.

Asian equity markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.56% and the Shanghai Composite rose 0.44%. The Nikkei 225 lost 0.05%. European markets are higher today with shares in Germany leading the region. The DAX is up 0.49% while France's CAC 40 is up 0.28% and London's FTSE 100 is up 0.08%.

The rupee was trading at Rs 64.44 against the US$ in the afternoon session. Oil prices were trading at US$ 46.26 at the time of writing.

Coal India share price ended the day on negative note after it was reported that the company will continue to offer domestic coal to non-power sectors in lieu of 50% of the import component in the ongoing fiscal.

The development assumes significance as the government is working to eliminate coal imports. However, the fuel will be provided to non-power consumers in sectors such as cement, fertiliser, and steel without affecting the supply to the power sector.

Pharma stocks closed the day on a mixed note with Natco Pharma and Piramal Enterprises leading the losses. As per an article in a leading financial daily, the US Food & Drug Administration (USFDA) has granted marketing approval for ezetimibe tablet (10 mg) to two Indian companies - Sun Pharma and Zydus Cadila.

Ezetimibe, a generic version of Merck's Zetia tablet, is used to reduce high cholesterol levels. Zydus will produce the tablet at the group's formulations manufacturing facility at Moraiya, Ahmedabad.

As per IMS, ezetimibe tablet had annual sales of approximately US$ 2.7 billion in the US for the 12 months ended April 2017.

Meanwhile, Cadila Healthcare's US division Zydus Pharmaceuticals' subsidiary Neshar Pharmaceuticals has received final approval from the USFDA to market Nystatin Topical Powder USP, 1,00,000 units per gram.

The drug will be produced at the Neshar Pharmaceutical manufacturing facility located at the St. Louis, USA.

Notably, the group now has more than 115 approvals and has so far filed over 300 abbreviated new drug applications (ANDAs) since the commencement of the filing process in the financial year ended March 2004.

In a recent edition of The 5 Minute WrapUp, we wrote about the USFDA crackdowns faced by the Indian Pharma in the recent times and how they have been constantly investing towards R&D. We believe pharma companies that are upgrading and keeping facilities compliant, and have niche product pipelines in place will see sustained revenue growth going forward.

Further, speaking of pharma space in India, according to a report by The Hindu Business Line, in spite of the prevailing challenges in the Indian pharma sector is expected to grow up to 45% by 2025 and 58,000 additional employment opportunities are likely to be created in the industry amid the job crisis in India.

Indian Pharma Revenue Growth Accelerates

Despite the capping of prices, notebandi and GST implementation, all of which are perceived to impact the pharma sector adversely, the industry will continue to grow. In fact, by 2020, the pharma market could touch US$ 55 billion in revenues, a CAGR of about 15.9%.

Cadila Healthcare share price ended down by 1.2% while Sun pharma share price finished up by 0.6%.

Moving on to the news from the economy. Retail inflation i.e. consumer price indexed (CPI), inflation in India during May fell to 2.18%, as compared to 5.76% in the same month of last year, pulled down by sharp fall in food prices.

The May retail inflation rate fell, even as compared to April when it prevailed at a higher rate of 2.99%. The price of pulses dipped by close to 20% in May while vegetables became cheaper by 13.44%. Retail inflation in fuel and light eased to 5.46% in May from 6.13% in April.

Meanwhile, industrial production rose at a slower pace in April, raising demands for a rate reduction by the RBI. Latest data released on Monday showed that industrial production expanded by 3.1% in April, compared to 3.8% in March and 6.5% a year ago, as mining and electricity sector witnessed a slowdown.

Notably, earlier this month, the Reserve Bank had maintained status quo on key lending rate (repo) citing risks to inflation.

With headline inflation undershooting the RBI's mid-term target of 4% for the past seven months, pressure has mounted on the central bank to resume interest rate cuts to juice up economic growth that has hit the lowest level in more than two years.

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers