Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

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

  • MyStocks

MEMBER'S LOGINX

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

Indian share markets open weak
Mon, 24 Jun 09:30 am

All the major Asian stock markets have opened the day in the red with Hong Kong (down 1.6 %) and China (down 3.0%) leading the pack of losers. The Indian share markets indices have also opened the day on a negative note. Barring healthcare, all other sectoral indices have opened in the red with the stocks in the power and consumer durables space leading the losses.

The Sensex today is down by around 106 points (0.6%), while the NSE-Nifty is down by around 35 points (0.6%). Mid cap and small cap stocks have also opened in the red with BSE Mid Cap index and BSE Small Cap down by around 0.8% and 0.5% respectively. The rupee is trading at Rs 59.67 to the US dollar.

Indian Pharma stocks have opened the day on a mixed note with Glenmark Pharma Ltd and Orchid Chemicals Ltd leading the gains. However, Panacea Biotech and Piramal Enterprises were witnessing selling pressure. As per a leading financial daily, Ranbaxy Ltd's third and newly commissioned Mohali facility has come under the scanner of US Food and Drug Administration (USFDA). The latter has issued Form 483 to the company's manufacturing facility at Mohali a few months ago post finding deviations from its norms during an inspection of the plant. It is important to note here that Form 483 is issued by the FDA at the conclusion of an inspection to notify the company of objectionable conditions that might be in violation of the US Food, Drug and Cosmetic Act and related laws. However, it does not prevent a company from making regulatory filings from that unit. This is a negative development for the company as the Mohali unit forms an important part of Ranbaxy's strategy.

Telecom stocks have opened on a mixed note with Idea Cellular Ltd and Himachal Futuristic leading the gains. However, Tata Teleservices and AGC Networks Ltd are leading the losses. As per a leading financial daily, Bharti Airtel will slash 4G data charges by 31% from today. The move aims to boost demand for fourth-generation wireless broadband services. It is important to note here that Mukesh Ambani's Reliance Jio Infocomm is slated to roll out 4G services on a pan-India basis within this year. It is also likely to make things difficult for future challengers. As per the daily, Airtel will offer 4G speeds at 3G price points. Earlier, the company had cut 2G data charges by nearly 90% to boost data usage and revenue streams.

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


What else is happening in the markets today? Dig in...

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

  

Related Views on News

Dr Reddy's Lab Shares Fall As Earnings Miss Estimates. What Next? (Views On News)

May 14, 2021

The company's board recommended a final dividend of Rs 25 for financial year 2020-21.

What's Behind the Rally in Pharma Stocks? (Views On News)

May 11, 2021

The second wave of Covid has given a new lease of life to pharma stocks.

Why Did Alembic Pharma Shares Fall Today? (Views On News)

May 5, 2021

Covid-led supply disruptions of API fuel Alembic Pharma's global prospects.

More Views on News

Most Popular

Is Intraday Trading For You? (Fast Profits Daily)

May 13, 2021

Do you think you have what it takes to be an intraday trader? Find out in this video.

My Secret to Find Breakthrough Stocks (Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

Are the Stock Markets Deaf to Covid Agony? (Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

The Key to Profit from India's EV Revolution (Profit Hunter)

May 7, 2021

Stocks you must consider investing in before buying your first electric vehicle.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

RANBAXY LAB SHARE PRICE


Apr 1, 2015 (Close)

TRACK RANBAXY LAB

  • Track your investment in RANBAXY LAB with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

MARKET STATS