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Sensex Opens Marginally Up; Power and IT Stocks Gain
Tue, 20 Aug 09:30 am | Rini Mehta, TM Team

Asian share markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite and the Hang Seng are up by 0.1%. The Nikkei 225 is trading up by 0.4%. US stocks climbed on Monday as reports of stimulus efforts in China and Germany calmed fears of a severe downturn in the global economy that were stoked last week as bond yields fell.

Back home, India share markets opened on a flat note. The BSE Sensex is trading up by 90 points while the NSE Nifty is trading up by 16 points. Both, the BSE Mid Cap index and BSE Small Cap index opened on a flat note.

Sectoral indices have opened the day on a mixed note with power stocks and information technology stocks witnessing maximum buying interest. Consumer durables stocks and metal stocks have opened the day in red.

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The rupee is currently trading at 71.62 against the US$.

On Monday, the Indian rupee tumbled 29 paise to close at an over six-month low of 71.43 against the US dollar on Monday amid growing worries over an economic slump and sustained foreign fund outflows.

Further, rising crude oil prices and strengthening of the US dollar vis-a-vis other currencies overseas also took toll on the Indian currency.

At the interbank foreign exchange market, the rupee opened on a weak note and fell to a day's low of 71.48 against the US dollar.

The domestic currency finally settled at 71.43 against the US dollar, slipping 29 paise over the previous close. This is the lowest level for the local unit since February 7, when it had closed at 71.45 a dollar.

On Friday, the rupee had settled at 71.14 against the US dollar.

Indian rupee became Asia's worst performing currency this month. For the common man, the falling rupee is going to hit where it hurts the most-the pocket.

In the video below, Vijay Bhambwani explains what's behind the fall in rupee and how much can it fall further.

Moving on to the news from the pharma sector. As per an article in a leading financial daily, Dr. Reddy's Laboratories has launched Versavo (bevacizumab), a biosimilar of Roche's Avastin in India, indicated for the treatment of several types of cancers.

The company's Versavo is available in strengths of 100mg and 400mg single use vials.

The company now has six biosimilar products commercialized in India and various emerging markets and an active development pipeline of several biosimilar products in the oncology and immunology space.

Speaking of the biosimilars, note that, Biosimilars and Biologics are burgeoning sectors. Also, major scientific and technological advances, coupled with socio-demographic changes and increasing demand for medicines will revive the pharma industry's fortunes in another 10 to 20 years.

But given the complexity of biologics, will Indian companies be able to break some ground in this space? Going forward, whether the monetization of biosimilars prove to be a big growth driver for the company will be the key thing to watch out for.

Dr. Reddy's Lab share price opened up by 1.1%.

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

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Stock Market Updates

Sensex Jumps 500 Points; Dow Futures Down by 31 Points (Today's Market)

May 17, 2021 12:30 pm

BSE Sensex is trading up by 598 points, while the NSE Nifty is trading up by 164 points.

CAPLIN POINT Share Price Up by 5%; BSE HEALTHCARE Index Down 0.0% (Today's Market)

May 17, 2021 10:06 AM

CAPLIN POINT share price is trading up by 5% and its current market price is Rs 622. The BSE HEALTHCARE is down by 0.0%. The top gainers in the BSE HEALTHCARE Index are CAPLIN POINT (up 5.2%) and SHILPA MEDICARE (up 9.1%). The top losers are DR. REDDYS LAB (down 0.1%) and APOLLO HOSPITALS (down 0.1%).

RATNAMANI METALS Share Price Up by 5%; BSE METAL Index Down 0.3% (Today's Market)

May 17, 2021 10:04 AM

RATNAMANI METALS share price is trading up by 5% and its current market price is Rs 1,936. The BSE METAL is down by 0.3%. The top gainers in the BSE METAL Index is RATNAMANI METALS (up 5.2%). The top losers are NMDC (down 0.2%) and JSW STEEL (down 0.6%).

Indian Share Markets Open Higher; IndusInd Bank & SBI Top Gainers (Today's Market)

May 17, 2021 09:30 am

Indian share markets open higher. The BSE Sensex opened up by 211 points, while the Nifty is trading higher by 58 points.

SHILPA MEDICARE Share Price Up by 12%; BSE HEALTHCARE Index Down 0.5% (Today's Market)

May 17, 2021 09:36 AM

SHILPA MEDICARE share price is trading up by 12% and its current market price is Rs 510. The BSE HEALTHCARE is down by 0.5%. The top gainers in the BSE HEALTHCARE Index is SHILPA MEDICARE (up 12.0%). The top losers are STRIDES PHARMA SCIENCE and SYNGENE INTERNATIONAL .

NARAYANA HRUDAYALAYA Share Price Up by 5%; BSE HEALTHCARE Index Down 0.5% (Today's Market)

May 17, 2021 09:36 AM

NARAYANA HRUDAYALAYA share price is trading up by 5% and its current market price is Rs 462. The BSE HEALTHCARE is down by 0.5%. The top gainers in the BSE HEALTHCARE Index are NARAYANA HRUDAYALAYA (up 5.0%) and SHILPA MEDICARE (up 12.0%). The top losers are STRIDES PHARMA SCIENCE and SYNGENE INTERNATIONAL .

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