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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Volatility mars Indian indices
Wed, 14 Oct Closing

Indian equity markets had a rather volatile trading session today. The indices began the day's proceedings on a cautious note, and subsequent sessions saw them oscillating to either side of the dotted line. While the BSE-Sensex today closed lower by 67 points, the NSE-Nifty closed lower by 24 points. S&P BSE Mid Cap also closed weal, losing 0.3%. However, S&P Small Cap bucked the trend and gained 0.4%. Losses were largely seen in IT and power stocks.

Asian markets finished broadly lower today with shares in Japan leading the region. The Nikkei 225 is down 1.89% while China's Shanghai Composite is off 0.93% and Hong Kong's Hang Seng is lower by 0.71%. European markets have opened lower in early trade with shares in Germany leading the losses. The rupee was trading weak at 65.11 against the US$ in the afternoon session.

Healthcare sector stocks finished the day in the green with Aurobindo pharma and Opto Circuits leading the gains. According to a leading financial daily, Lupin and Boehringer Ingelheim have entered into a joint strategic alliance for co-marketing linagliptin, a novel Dipeptidylpeptidase-4 (DPP-4) inhibitor in India. According to the agreement, Lupin will market and sell linagliptin under a separate brand name Ondero (monotherapy) and Ondero Met (fixed-dose combination with metformin) which will be promoted by the company's 400 strong dedicated Diabetes specialty field force.

Reportedly, Boehringer Ingelheim is one of the fastest growing multinational pharmaceutical company in India, having a strong presence in the DPP-4 Inhibitors market in India which is growing at 27%. The scrip of Lupin ended the trading day up by 2% on the BSE.

Indian companies have not only reaped gains from selling low cost generics but have also garnered a sizeable share of the US generic market. But Lupin took a different growth route. The company not only achieved substantial market share in the generic space but also established itself in the branded pharma market. By nature, this market is largely dominated by the innovator companies. Lupin has a sizeable presence compared to other Indian pharma companies in the US branded market.

According to a leading financial daily, Tata Power has installed two of India's first 25 MVA natural ester filled transformers in Mumbai in partnership with Cargill and Schneider Electric. Under the partnership, Cargill will provide its Environtemp FR3 fluid (natural ester) which will help in extending the life and loading capacity of Schneider's transformer with a smaller footprint as well as reduce the risk of fire in electrical installation. Reportedly, the eventual transformer design provides increased capacity by 8 MVA, while reducing the footprint by 17%; it yields cost-saving of about 16% and reduces noise level from 73 decibels to 59 decibels.

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May 24, 2017 (Close)

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