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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian equity markets recover 
(Fri, 18 Jul 11:30 am) 
 
After opening in the red, the Indian equity markets have made some recovery in last two hours of trade. However they continue to trade below the dotted line during morning session. Majority of sectoral indices are trading in red with realty and power sector being the leading losers in the pack. Only stocks from IT sector are in demand today.

The BSE-Sensex is trading down 10 points. The NSE-Nifty is trading down 6 points. The BSE Mid Cap index is trading down 0.1% and the BSE Small Cap index is trading up 0.2%. The rupee is trading at 60.32 to the US dollar.

Market regulator SEBI has finalised the draft norms for Infrastructure investment trusts. Taking forward a proposal made in the Union Budget, SEBI draft guidelines for Infrastructure Investment Trusts (InvITs) will enable creation of a new investment product for arranging long-term financing for infrastructure projects. The InvITs will receive tax benefits and can invest in PPP infra projects. These instruments can also be listed on stock exchanges. The norms state that the underlying assets of the InvITs should not be less than Rs 5 bn and the offer size, in case of a listing, should not be less than Rs 2.5 bn. InvITs will have a tax efficient pass through status for PPP and other infrastructure projects and holds the potential to give a boost to the struggling infra sector in the country.

Majority of Indian pharma stocks are trading in red, with Wockhardt Ltd and Strides Arcolab are leading the losers. As per the financial daily, Cipla Ltd, Emcure Ltd and Aurobindo pharma have signed sub-licensing agreements with UN backed medicines patent pool (MPP) for the manufacture of generic drugs viz; atazanavir and dolutegravir. The three Indian companies are among seven global companies to sign this agreement. The companies will be supplying the said drugs in various developing markets. As per MPP's executive director Greg Perry, Increased generic competition will help in reducing prices of the drugs and thus allowing national treatment programme to make available more number of drugs and thus helping more patients. While the Indian companies will benefit from the supply programme, however by nature the ARVs supplied under tenders or agreements to government or non-government agencies tend to offer lower margins.

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