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Small cap and Mid cap in favour
Wed, 19 Jun 01:30 pm

Indian equity markets continued to trade weak during the post noon trading session. Barring stocks from the metal, consumer durables and realty sectors; all the sectoral indices are trading in the red. Among the pack of losers, stocks from the IT and power sectors are witnessing maximum selling pressure.

BSE-Sensex is down by 66 points and NSE-Nifty is trading down by 18 points. While BSE Mid Cap is trading up by 0.42%, BSE Small Cap index is trading up by 0.27%. The rupee is trading at 58.72 to the US dollar.

Majority of the large IT companies are trading in the green with Moser Baer and Mahindra Satyam being the biggest gainers. As per a leading financial daily, Tata Consultancy Services (TCS) has announced that it will join US2020 as a founding leadership partner. US2020 is a National Education initiative that has a target to provide 1 m science, technology, engineering and math (STEM) professionals with mentorship opportunities by 2020. For this TCS will offer US$ 0.5 m monetary support. TCS will also develop online matching platform that will provide mentoring opportunities to STEM volunteers with top non-profit organizations. As per the strategy, five cities will be selected and given US$ 1 m in cash and kind support for bringing together businesses, non-profit organizations, city governments and local philanthropies to mobilize STEM volunteers. TCS is aspiring to get 20% of the company's STEM workforce mentoring students by 2020. TCS stock is trading down by 1%.

Indian pharma stocks are trading mixed with Dishman Pharma and Orchid Chemicals being among the major gainers while Dr Reddy's and Natco Pharma are the leading losers. Glenmark Pharma's subsidiary, Glenmark Generics Inc USA, has announced the approval of Riluzole tablets 50 mg from the United States Food and Drug Administration (USFDA). The company has already commenced the shipping of the drugs. The said drug is indicated for the treatment of amyotrophic lateral sclerosis. The branded sales of Riluzole as on March 2013 were US$ 64 m in the US. Glenmark was trading up by 0.7%.

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