X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks

MEMBER'S LOGINX

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

Indian Indices Trade Marginally Lower; Energy Stocks Witness Selling
Wed, 28 Jun 11:30 am

Share markets in India are presently trading marginally lower. Sectoral indices are trading on a mixed note with stocks in the consumer durables sector and energy sector witnessing maximum selling pressure. Metal stocks are trading in the green.

The BSE Sensex is trading down 39 points (down 0.1%) and the NSE Nifty is trading down by 6 points (down 0.1%). The BSE Mid Cap index is trading up by 0.3%, while the BSE Small Cap index is trading up by 0.2%. The rupee is trading at 64.53 to the US$.

In the news from pharmaceutical sector, Glenmark Pharmaceuticals has received final approval from the US health regulator for its generic version of anti-inflammatory drug Indomethacin tablets.

The company's current portfolio consists of 118 products authorised for distribution in the US. It also includes 67 abbreviated new drug applications (ANDA) pending approval with the US Food and Drug Administration (USFDA).

Glenmark Pharmaceuticals Limited is a global pharmaceutical company engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). Its segments are India, the US, Latin America, Europe and Rest of the World (ROW).

It focuses on manufacturing products across therapeutic areas of dermatology, respiratory and oncology. Its active pharmaceuticals ingredients (API) business spans over 80 countries, including regulated markets of the United States, Europe, Japan and Canada.

Just Released: Multibagger Stocks Guide
(2017 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

Speaking of pharma sector, the Indian pharmaceutical industry has come under a lot of regulatory pressure in the past few years.

We had written about the current predicament of Indian pharma companies in one of the premium editions of the 5 Minute WrapUp:

  • Over the past few years, risk in the US markets has increased. The US Food and Drug Administration has become stricter on products entering US borders. Surprise inspections have increased and companies are being issued warning letters. This has impacted the business and earnings of Indian pharma players, causing major volatility for the sector.

The list of pharma sector woes is long. So, is there light at the end of the tunnel? Girish Shetty, our research analyst thinks there is.

Is the Worst Over for all the Pharma Stocks?

Facing pricing pressures in the domestic and export markets, currency fluctuations, as well as manufacturing issues related to their plant, there is a transformation happening in the overall sector as to how business is done and will be done in the future.

But do all these above developments suggest it's time for a contra buy call on Indian pharma stocks? The latest edition of The Equitymaster Research Digest (requires subscription) answers this question.

In the news from commodity markets, crude oil is witnessing selling pressure today. Losses are seen on the back of a report which showed a rise in US fuel inventories.

Note that crude oil output is still increasing in the US, and the US is not a part of the OPEC production agreement. Also, oil stocks in Europe's Amsterdam-Rotterdam-Antwerp hub hit 64.2 million barrels in the week to June 16. This was the highest in a year.

Apart from the above losses, crude oil has also been witnessing volatility recently over Donald Trump's proposal to sell half of the country's strategic oil reserves.

Owing to the supply glut, crude oil prices have been remarkably silent over the last two years. Prices have remained within a tight range, rarely dropping below US$40 or rising above US$60. Volatility has crashed. And if you are trading crude oil, it's critical to understand why this has occurred.

One of the issues of Vivek Kaul's Inner Circle (requires subscription) explains what has triggered the above taming in crude oil prices.

To keep a tab on the movements in crude oil and other commodities, you can read the stock market commentary from the Daily Profit Hunter team. Their commentary tracks the developments in the global economy as well as stock, currency and commodity markets.

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

Equitymaster requests your view! Post a comment on "Indian Indices Trade Marginally Lower; Energy Stocks Witness Selling". Click here!

  

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Jul 27, 2017 12:00 PM

MARKET STATS