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Sensex Opens in Green; HDFC Bank and Yes Bank Top Gainers
Wed, 24 Jul 09:30 am | Rini Mehta, TM Team

Asian share markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 1.2% while the Hang Seng is up 1%. The Nikkei 225 is trading up by 0.5%. The S&P 500 and Nasdaq approached record highs on Tuesday, lifted by upbeat quarterly reports from Coca-Cola and United Technologies and on optimism the United States would resolve its trade conflict with China.

Back home, India share markets opened the day on a positive note. The BSE Sensex is trading up by 99 points while the NSE Nifty is trading up by 18 points. The BSE Mid Cap index opened down by 0.2%, while BSE Small Cap index opened up by 0.1%.

Sectoral indices have opened the day on a mixed note with oil & gas stocks and capital goods stocks witnessing maximum selling pressure. IT stocks and FMCG stocks have opened the day in green.

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The rupee is currently trading at 69.10 against the US$.

In the news from the oil sector. As per the latest data released by the government, India's June crude oil imports fell 13.4% from a year earlier to their lowest since February 2017.

Crude imports into the world's third-biggest oil importer fell to 16.9 million tonnes, which was also a more than 10% drop from May's 18.9 million tonnes.

June's decline came amid the loss of Iranian oil supplies as Washington tightened sanctions on Tehran.

In April, Trump administration had said it would not renew exemptions granted last year to buyers of Iranian oil. India through May was Iran's second-biggest oil customer after China.

Meanwhile, imports of oil products surged by about 20.4% from a year earlier, while year-on-year exports slipped 11.4% last month, the data showed.

Diesel exports climbed nearly 6% to 2.22 million tonnes in June month-on-month, though they were down 9.4% from a year earlier, due to weaker demand in the domestic sector due to the monsoon season.

Monsoon rains typically reduce the need for diesel used in irrigation pumps, which typically ramps up exports of the fuel.

India's strong diesel demand growth is likely to decouple from the car market as motorists increasingly turn to gasoline vehicles, leaving it more reliant on patchy demand from construction and heavy industry.

Speaking of crude oil, catch Vijay Bhambwani talk about trading in crude oil.

As per him, crude oil offers excellent opportunities in nearly all market conditions due to its unique standing within the world's economic and political systems.

Moving on to the news from the pharma sector. As per an article in a leading financial daily, Dr. Reddy's Laboratories has launched Ramelteon Tablets, 8 mg, approved by the US Food and Drug Administration (USFDA).

Reportedly, it is a therapeutically equivalent generic version of Rozerem (ramelteon, 8 mg) Tablets.

The tablets are available as 8 mg tablets in bottle count sizes of 30, 100, and 1000.

According to IQVIA Health, the Rozerem brand had US sales of approximately US$91.3 million MAT for the most recent twelve months ending in May 2019.

Dr. Reddy's Lab share price opened down by 0.2%.

Here's an interesting data on Dr. Reddy's Lab, investing just Rs 100,000 in Dr. Reddy's Labs in 1992, it would have given a whopping Rs 4.89 crores in 2014!

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Meanwhile, Strides Pharma Science has received the Establishment Inspection Report (EIR) from the USFDA for its formulation's facility (KRSG Gardens) in Bangalore, thereby confirming the successful closure of the inspections.

The facility was inspected by the USFDA in May 2019.

Strides Pharma share price opened the day up by 0.5%.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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

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Stock Market Updates

ENGINEERS INDIA Plunges by 5%; BSE CAPITAL GOODS Index Down 0.2% (Today's Market)

Oct 14, 2019 03:32 PM

ENGINEERS INDIA share price has plunged by 5% and its current market price is Rs 112. The BSE CAPITAL GOODS is down by 0.2%. The top gainers in the BSE CAPITAL GOODS Index are BHARAT ELECTRONICS (up 3.6%) and SUZLON ENERGY (up 3.0%). The top losers is ENGINEERS INDIA (down 5.0%).

INDIA TOURISM DEV. Surges by 11%; BSE 500 Index Up 0.2% (Today's Market)

Oct 14, 2019 03:26 PM

INDIA TOURISM DEV. share price has surged by 11% and its current market price is Rs 269. The BSE 500 is up by 0.2%. The top gainers in the BSE 500 Index is INDIA TOURISM DEV. (up 11.2%). The top losers are GODREJ CONSUMER and TTK PRESTIGE .

REPCO HOME Plunges by 6%; BSE 500 Index Up 0.6% (Today's Market)

Oct 14, 2019 03:10 PM

REPCO HOME share price has plunged by 6% and its current market price is Rs 300. The BSE 500 is up by 0.6%. The top gainers in the BSE 500 Index are PC JEWELLER (up 9.5%) and MOTILAL OSWAL (up 8.9%). The top losers are REPCO HOME (down 6.2%) and PNB HOUSING FINANCE LTD (down 5.7%).

RELIANCE CAPITAL Plunges by 10%; BSE 500 Index Up 0.7% (Today's Market)

Oct 14, 2019 02:58 PM

RELIANCE CAPITAL share price has plunged by 10% and its current market price is Rs 17. The BSE 500 is up by 0.7%. The top gainers in the BSE 500 Index are PC JEWELLER (up 11.2%) and INDIA TOURISM DEV. (up 8.9%). The top losers is RELIANCE CAPITAL (down 10.0%).

BAJAJ CONSUMER CARE Plunges by 5%; BSE FMCG Index Up 0.4% (Today's Market)

Oct 14, 2019 01:54 PM

BAJAJ CONSUMER CARE share price has plunged by 5% and its current market price is Rs 243. The BSE FMCG is up by 0.4%. The top gainers in the BSE FMCG Index are P&G HYGIENE (up 3.1%) and GODFREY PHILLIPS (up 2.3%). The top losers is BAJAJ CONSUMER CARE (down 5.1%).

Indian Indices Extend Gains; Tata Motors & ONGC Climb 5% (Today's Market)

Oct 14, 2019 12:30 pm

The BSE Sensex is trading up by 218 points, while the NSE Nifty is trading up by 57 points.

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