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Markets trade near the dotted line
Thu, 20 Aug 11:30 am

After opening the day on a flat note, the Indian Indices have continued to trade near the dotted line. Sectoral indices are trading on a mixed note with mining and software stocks leading the losers. However, pharma and FMCG stocks are trading in the green.

The BSE-Sensex is trading lower 16 points (down 0.06%) and the NSE-Nifty is trading down 18 points (down 0.2%). The S&P BSE Midcap index is trading marginally higher and the S&P BSE Smallcap index is trading down by 0.4%. The rupee is trading at 65.20 to the US dollar.

Stocks in the software sector are trading mixed with HCL Infosys and HCL Tech. leading the losers. As per a leading financial daily, leading India based provider of IT services Wipro is planning to recruit 1,000 employees at its development centre in Bhubaneswar within a span of three months. This is over and above the company's current headcount of around 200. The same is planned for housing the new G+5 tower which the company is setting up in the first phase. Also, the company has recently committed a massive expansion plan for its Bhubaneswar centre by announcing an overall headcount 28,000. Stock of Wipro is presently trading down 0.5%.

As per the financial times, leading pharma company Sun Pharmaceuticals has received US Food and Drug Administration (USFDA) approval for its supplementary New Drug Application (sNDA) for XiminoTM (Minocycline HCl) extended-release capsules 45 mg, 90 mg and 135 mg. These extended capsules are indicated for inflammatory lesions of non-nodular moderate to severe acne vulgaris in patients 12 years of age and older. The approval is said to further strengthen the company's branded dermatology portfolio in the US. The company expects the product to be available for patients during the fourth quarter of 2015. Stock of Sun Pharma is trading up by 3.4%.

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