After opening the day on a positive note, the Indian markets erased some of their gains in the afternoon trade, dragged by FMCG stocks. The Sensex however ended higher by 88 points and the NSE-Nifty ended higher by 32 points. The BSE Mid Cap and BSE Small Cap ended the day trading higher by 0.24% and 0.19% respectively.
Asian markets finished on a positive note at the most recent closing prices. Hang Seng gained 2.04%, while the Shanghai Composite gained 4.37%. The rupee was trading at 63.40 against the US$ in the post noon session.
Indian pharma stocks closed the day on a mixed note. As per financial daily, the Brazilian drug regulator ANVISA has suspended the import of some drugs manufactured in one of the manufacturing plant of Lupin. These drugs are largely the ones which are used to make antibiotics. All Beta Lactum cephalosporin pharmaceutical ingredients and all the imported drugs using these ingredients as inputs by Lupin are banned. This step was taken after the regulator's inspection, which detected some irregularities. Reportedly, the sales of Lupin are not expected to get impacted on the back of this ban.
Stocks in the automobile sector ended on a mixed note. Tata Motors announced today that it has bagged an order for supplying 1,200 multi-axle trucks to the Indian Army. The trucks will be used for loading-unloading and transportation of ammunition pallets, spares and other operational equipment. It is the single largest order awarded to an Indian company in land systems by the Indian army and comprises 1,200 units of high-mobility 6X6 multi-axle trucks, Tata Motors said in a statement.