Indian Indices Gain Momentum; Healthcare Sector Up 1.8%

Wed, 4 Oct 11:30 am

   Previous Close   

   Pre-Open   

   09:30 am   

   01:30 pm   

   Closing   

After trading on a volatile note during the start of the day, stock markets in India witnessed buying interest and went on to trade on a positive note. Sectoral indices are trading on a positive note with stocks in the healthcare sector and FMCG sector witnessing maximum buying interest.

The BSE Sensex is trading up 170 points (up 0.5%) and the NSE Nifty is trading up 53 points (up 0.5%). The BSE Mid Cap index is trading up by 0.6%, while the BSE Small Cap index is trading up by 0.8%. The rupee is trading at 65.33 to the US$.

The Reserve Bank of India's (RBI) two-day policy meeting is set to conclude today, with a decision on key interest rates in the offing.

The fourth bi-monthly monetary policy statement for 2017-18, to be released today, is being keenly awaited by all stakeholders - especially the industry which has been demanding lower interest rates.

Various bankers, including the State Bank of India (SBI), however, are of the view that the RBI would maintain status quo this time as inflation has risen.

Note that the RBI in its last policy review in August reduced the repo rate by 0.25% to 6%, citing reduction in inflation risks. The rate cut was the first in 10 months and brought the policy rates to a near 7-year low.

In the news from the IPO space, Godrej Agrovet Ltd is set to open its initial public offer (IPO) today. The agri-business unit of Godrej Industries Ltd is aiming to raise around Rs 11.5 billion through the share sale.

The IPO comprises a fresh issue of shares aggregating up to Rs 2.9 billion by the company, an offer for sale by promoter Godrej Industries Ltd. aggregating up to Rs 3 billion, and up to 12.3 million equity shares by investor V-Sciences Investments Pte. Ltd of Temasek Holding that would total up to Rs 5.7 billion.

The issue will open on 4^th October. The price band has been fixed between Rs 450 and Rs 460 per equity share of face value of Rs 10 each.

Meanwhile, MAS Financial Services on Thursday said it has fixed a price band of Rs456-459 per share for its initial share sale offering, through which it is estimated to raise Rs 4.6 billion. The IPO will be open to public subscription from the 6^th to 10^th October.

We'll soon review the above IPOs and release their recommendation notes. You can check the same on our IPO page.

Also, if you want to know more about IPOs and whether they are right for you, you can download the free special report - How to Get Rich with IPOs.

In the news from pharma sector, Natco Pharma is witnessing buying interest today. Gains are seen as the company's marketing partner Mylan received US drug regulator's approval for generic version of Copaxone in strengths of 40 mg/mL and 20 mg/mL.

The company said that the launching plan for the above products will be communicated after concurring with its partner Mylan.

The drugs are indicated for the treatment of patients with relapsing forms of multiple sclerosis (MS), a chronic inflammatory disease of the central nervous system.

The sales for the 20 mg/mL dose was approximately US$ 700 million and for the 40 mg/mL dose was approximately US$ 3.6 billion for the 12 months ending July 31, 2017, Quintiles IMS stated.

Owing to the above development, Natco Pharma share price surged around 20% today.

One shall note that USFDA alerts on Indian pharma companies have increased over the past few years. Regulators used to visit the plants every two years. Now they come every eight months. Increasing inspections have led to a total of 41 import alerts in the past eight years - 33 of them (80%) in just the last four years (2013-16). This clearly signifies increased USFDA scrutiny on Indian pharma firms. If that wasn't enough, increasing pricing pressure in the generics segment has dented realisations.

However, the recent development of USFDA expediting the drug approval process can bring some respite for Indian pharma companies. This comes as drug approvals for Indian companies have gone up 50% in the period from January to June 2017 compared to the same period last year, as can be seen from the chart below:

Expediting Drug Approval Process to be a Positive for Industry

While short-term pain is expected, companies with strong R&D capabilities and compliant plants will do well over the long term. The uncertainties make it important to be stock specific in the sector. It is important to look for companies that have the competence and staying power to overcome the challenges.

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers