Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

A negative start to the week
Mon, 7 Sep Closing

After opening the day flat, the Indian stock markets ended the day on a disappointing note as selling activity intensified in the post noon session. The Sensex today ended lower by 309 points while the NSE-Nifty ended lower by 96 points. The BSE Mid Cap and BSE Small Cap index ended with losses of 2.2% and 1.8% respectively. Healthcare, metal and power stocks were the least favored today.

Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.38%, while the Shanghai Composite led the Hang Seng lower. They fell 2.52% and 1.23% respectively. European markets have opened on a mixed note. The rupee fell further by 35 paise to trade at 66.81 against the US currency in the afternoon session.

According to a leading financial daily, Cipla's UK subsidiary - Cipla EU has entered into definitive agreements to acquire two US-based companies, InvaGen Pharmaceuticals Inc., and Exelan Pharmaceuticals Inc. The transaction, being subject to certain closing conditions, is valued at US$ 550 m and will be an all cash transaction. The combined revenue from these entities is over US$ 200 m for the year ended Dec 2014 and over US$ 225 m in last twelve months ended June 2015. This acquisition, which is the second landmark acquisition in Cipla's 80 years of history, will give the company scale in the US generics market through a wide product portfolio in CNS, CVS, anti-infectives, diabetes as well as other value added generics. The acquisition of InvaGen Pharmaceuticals also provides Cipla with about 40 approved ANDAs, 32 marketed products, and 30 pipeline products which are expected to be approved over the next 4 years. The acquisition of Exelan Pharmaceuticals provides Cipla access to the government and institutional market in the US through Exelan's deep expertise, engagement and experienced management team in the business.

Engineering stocks languished in the red with Welspun Corp and Bharat Bijlee being the biggest losers. According to a leading financial daily, Crompton Greaves (CG) has bagged a 3-year contract from the French distribution network operator Electricite Reseau Distribution France (ERDF), which manages 95% of the electricity distribution network in France, to provide maintenance and repair services to 4,500 high power transformers. These transformers of ERDF, a subsidiary of EDF, are credited with supplying energy to 35 million households in France. As part of this contract, CG will provide preventive and corrective maintenance of the ERDF on- load tap changers (OLTC) through speedy turnaround services.

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...

Equitymaster requests your view! Post a comment on "A negative start to the week". Click here!

  

Views on News

Beware the Ides of March (Fast Profits Daily)

Mar 1, 2021

The month of March is usually difficult for traders. This time it will be even more so. Find out why in this video.

UTI Nifty200 Momentum 30 Index Fund: Aims to Benefit from Momentum Investing Strategy (Outside View)

Mar 1, 2021

PersonalFN analyses the features of UTI Nifty200 Momentum 30 Index Fund and explains the potential this fund has to offer to its investors.

How to Have a Perfectly Normal Day Even if Sensex Falls 2,000 Points (Profit Hunter)

Mar 1, 2021

How can someone witness a 2,000 point decline on the Sensex and still stay perfectly calm.

ITI Mid-Cap Fund: Investing in Potential Midcap Companies for Growth (Outside View)

Feb 26, 2021

PersonalFN analyses the features of ITI Mid-Cap Fund and explains the potential this fund has to offer to its investors.

NSE Glitch: Why Did the Market Go Up? (Fast Profits Daily)

Feb 26, 2021

In today's video, I'll discuss why thew stock market went up on Wednesday, 24 February 2021, when the NSE had to shut trading due to a technical glitch.

More Views on News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps (Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Top 5 Stocks Mutual Funds Bought and Sold in January 2021 (Sector Info)

Feb 16, 2021

A look at what India's top equity mutual funds bought and sold in January 2021.

I Would Recommend this Small-cap Stock Over Tesla (Profit Hunter)

Feb 16, 2021

Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.

Make Rs 5,000 Per Day Trading the Market (Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Mar 1, 2021 (Close)

MARKET STATS