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Indian markets open on an optimistic note
Thu, 18 Jun 09:30 am

The major Asian stock markets have opened the day on a mixed note with markets in Japan (down 0.7%) and Singapore (down 0.3%) leading the losses. US stock markets closed their session on a higher note while European stock markets closed their session on a negative note. Crude oil prices decreased nearly 1.5% and are trading at Rs 3,793 per barrel.

Indian markets have opened the trading day on a positive note. BSE Sensex is trading up by 200 points (up 0.8%) and NSE-Nifty is trading higher by 45 points (up 0.5%). BSE Mid Cap and BSE Small Cap index indices are also trading in green, both up by 0.5% and 0.7% respectively. Among the sectoral indices, pharma and energy sectors are witnessing maximum buying interest. The rupee is trading at 63.85 against the US dollar.

Cement major ACC Ltd has informed the Bombay Stock Exchange that it has resumed limestone mining operations at Bargarh, Odisha after about nine months. The company has stopped mining at Bargarh in October following a government notice to suspend operations at this plant. While the company stopped clinker production at Chaibasa, Jharkhand and Bargarh plants, it however has continued operations of cement grinding units associated with these plants. For the quarter ended March 2015, the company has reported net profit of Rs 2.4 bn, down 39.7% on a YoY (Year on Year) basis.

Majority of stocks in the pharma space have opened the day on a positive note. As per a leading financial daily, Cipla Ltd is all set to enter Latin America and Eastern Europe to tap into growing demand for generic drugs in emerging markets. The company is aiming to bolster its US presence so that a fifth of its sales can come from that market by 2020 as compared to 8% at present levels. In domestic markets at current levels, Cipla gets nearly half of its sales from India. The stock of the company has opened the day on a positive note.

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Jan 17, 2018 01:17 PM