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Sensex Opens Lower; Banking and IT Stocks Drag
Fri, 7 Aug 09:30 am | Rini Mehta, TM Team

Asian stock markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 1.3% while the Hang Seng is down 1.7%. The Nikkei 225 is trading down by 0.6%.

Among global indices, shares on Wall Street shrugged off a sluggish start and closed higher on Thursday, with the Nasdaq ending the session above 11,000 for the first time as investors hoped for a new fiscal stimulus package.

Back home, Indian share markets have opened lower today tracking the negative trend in the global markets and SGX nifty today.

The BSE Sensex is trading down by 152 points.

The NSE Nifty is trading down by 36 points.

Meanwhile, the BSE Mid Cap index has opened up by 0.7%.

BSE Small Cap index is also trading higher by 0.6%.

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Sectoral indices are trading mixed with BSE Bankex under maximum pressure.

BSE Oil & Gas Index is witnessing buying interest, with Castrol India and Bharat Petroleum Corporation Ltd (BPCL) are among the top gainers today.

Speaking of the current stock market scenario, note that after over 2 years of lag, the smallcap index is beating Sensex in the post Covid rebound.

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Moving on, the rupee is currently trading at 74.89 against the US$.

Gold prices are currently trading up by 1.4% at Rs 55,845.

Gold and silver prices in India moved higher today, in line with a strong global rally in precious metals.

On MCX, October gold futures moved 1% higher to a new high of Rs 55,651 per 10 grams.

In the previous session, gold had risen over 1% or Rs 580 per 10 grams while silver had surged 3.2% or Rs 2,250 per kg.

In global markets, gold prices were flat, supported by weaker US dollar and hopes of more stimulus measures. Spot gold was steady at US$2,039.8 per ounce, after hitting an all-time high of US$2,055 in the previous session. US gold futures rose 0.3% to US$2,055.9.

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Moving on to the stock specific news...

Cipla is among the top buzzing stocks today.

Cofsils, a brand under Cipla Health, has launched the Cofsils Face Mask, 3-ply single-use disposable face mask for protection against harmful viruses and bacteria.

Reportedly, the 3-ply face mask provides 98% virus protection at 0.1 micron and 98% bacterial protection at three microns.

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The product is Center for International Regulatory Assistance (CITRA) certified and costs Rs 16 per mask.

The Cofsils Face Mask is available for purchase across India, at all medical stores and e-commerce websites. The brand is also distributing Cofsils Face Masks to healthcare workers in India, extending support to the services provided by nurses, doctors and pharmacists.

Cipla is also working with government agencies to develop a treatment for COVID-19 while ramping up the production of various life-saving essential drugs.

Meanwhile, the company is offering drugs, which have shown potency in treating COVID-19, in partnership with its global partners.

Besides scaling up production of medicines that show potency against the virus, Lopinavir, Ritonavir, Hydroxychloroquine and Azithromycin, the company is also ramping up manufacturing of drugs for chronic ailments such as asthma, COPD, among others, the reports noted.

Cipla share price opened the day up by 0.6%.

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!

Read the latest Market Commentary

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

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Stock Market Updates

INDIABULLS HOU. FIN. Share Price Down by 11%; BSE 500 Index Down 1.3% (Today's Market)

Sep 21, 2020 01:58 PM

INDIABULLS HOU. FIN. share price is trading down by 11% and its current market price is Rs 182. The BSE 500 is down by 1.3%. The top gainers in the BSE 500 Index are GSK CONSUMER (up 5.1%) and CAPRI GLOBAL CAPITAL (up 4.2%). The top losers is INDIABULLS HOU. FIN. (down 11.2%)..

MAGMA FINCORP Share Price Down by 6%; BSE 500 Index Down 1.3% (Today's Market)

Sep 21, 2020 01:58 PM

MAGMA FINCORP share price is trading down by 6% and its current market price is Rs 39. The BSE 500 is down by 1.3%. The top gainers in the BSE 500 Index are GSK CONSUMER (up 5.1%) and SYNDICATE BANK (up 3.8%). The top losers are MAGMA FINCORP (down 5.6%) and FINE ORGANIC INDUSTRIES (down 5.6%).

ASTER DM HEALTHCARE LTD Share Price Down by 5%; BSE HEALTHCARE Index Down 2.2% (Today's Market)

Sep 21, 2020 01:58 PM

ASTER DM HEALTHCARE LTD share price is trading down by 5% and its current market price is Rs 146. The BSE HEALTHCARE is down by 2.2%. The top gainers in the BSE HEALTHCARE Index are ASTRAZENECA PHARMA (up 1.5%) and APOLLO HOSPITALS (up 1.2%). The top losers is ASTER DM HEALTHCARE LTD (down 5.1%)..

The BSE HEALTHCARE Index Down 2% ; SUVEN LIFESCIENCES Among Top Losers (Today's Market)

Sep 21, 2020 01:56 PM

The BSE HEALTHCARE Index Down at 20,639 (down 2.3%). Among the top losers in the BSE HEALTHCARE Index today are SUVEN LIFESCIENCES, HIKAL LTD. and PANACEA BIOTECH. Meanwhile, the BSE Sensex has plunged 0.8% to 38,991.

TATA MOTORS Share Price Down by 5%; BSE AUTO Index Down 2.6% (Today's Market)

Sep 21, 2020 01:56 PM

TATA MOTORS share price is trading down by 5% and its current market price is Rs 148. The BSE AUTO is down by 2.6%. The top losers is TATA MOTORS (down 5.0%).

Sensex Opens Flat; Telecom and Automobiles Stocks Lag (Today's Market)

Sep 21, 2020 09:30 am

Indian share markets opened flat. The BSE Sensex opened up by 10 points, while the Nifty is trading up by 9 points.

View More Indian Share Market News

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Sep 21, 2020 02:13 PM