Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Indian share markets open firm
Fri, 20 Jun 09:30 am

Barring Japan (up 0.3%) and Hong Kong (up 0.2%), major Asian equity markets markets have opened on a weak note with South Korea (down 1.1%) and China (down 0.5%) leading the losses.

The Indian share markets have opened the day on a firm note. Barring FMCG, auto and capital goods, all sectoral indices have opened in the green with consumer durables and realty stocks leading the gains.

The Sensex today is up by around 26 points (0.1%), while the NSE-Nifty is trading flat. The midcap and smallcap stocks have also opened in the green with BSE Mid Cap and BSE Small Cap indices up by around 0.3% each. The rupee is currently trading at Rs 60.00 to the US dollar.

Indian pharma stocks have opened the day on a mixed note with Natco Pharma and Orchid Chemicals leading the gains. However, Sun Pharma and Lupin Ltd have opened in the red. As per a leading financial daily, drug maker Dr Reddy's Laboratories has initiated a voluntary recall of 13,560 bottles of Metoprolol Succinate Extended Release Tablets, USP 25 mg 100-count bottles from the US market after it failed the dissolution test. The drug was manufactured by Dr Reddy's at one of its Hyderabad manufacturing facilities and distributed by Dr Reddy's Laboratories Inc in the US. It is worth noting that Metoprolol is used alone or in combination with other medications to treat high blood pressure drug. It also is used to prevent angina (chest pain) and to improve survival after a heart attack.

Steel stocks have opened the day on a firm note with Tata Sponge Iron Ltd, JSW Steel and Tata Steel leading the gains. As per a leading financial daily, the government is determined to remove the hurdles impeding the growth of India's steel sector and to ensure that the domestic steel industry is able to achieve 300 million tonnes (MT) annual production by 2025. It must be noted that some of constraints facing the sector relate to land acquisition, infrastructure, connectivity, availability of raw materials and timely regulatory approvals. Currently, India's crude steel production capacity stands at 96 MT per annum. As such, the industry will have to add at least 200 MT of new capacity to reach the target capacity of 300 MT. To address the issues facing the steel industry, an inter-ministerial meeting is scheduled early next week.

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

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Indian share markets open firm". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.