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Treasury Yields Rise; Glenmark Pharma, Trident among Top Stocks in Action Today
Tue, 16 Oct Pre-Open

On Monday, share markets in India witnessed buying interest during the closing hours and ended the day in green. Sectoral indices were trading on a mixed note, with stocks in the IT sector and healthcare sector leading the gains.

At the closing bell, the BSE Sensex stood higher by 132 points (up 0.4%) and the NSE Nifty closed up by 40 points (up 0.4%).

Top Stocks in Focus

From the pharma space, Glenmark Pharma share price will be in focus today as its subsidiary, Glenmark pharmaceuticals Inc, USA has been granted final approval by the United States Food and Drug Administration (USFDA) for Hydrocortisone Valerate Cream USP, 0.2%, a generic version of Westcort Cream, 0.2%, of Sun Pharmaceutical Industries Inc.

To know more about the company, you can access Glenmark pharma Q1FY19 result analysis and Glenmark pharma 2017-18 Annual Report on our website.

Trident share price will also be in focus today.

The company has reported over 2 fold jump in its net profit at Rs 1.1 billion for the quarter under review as compared to Rs 0.5 billion for the same quarter in the previous year.

Market participants will be tracking L&T share price.

Reportedly, the company's arm has secured additional orders worth Rs 10 billion in Q2 FY19 against stiff global competition. These include three Super Heavy Hydrocracking Reactors for an Indian Refinery, with heaviest among them weighing 2,180 MT, to be built for the first time in the world.

To know more, check out our share market updates here.

Global Stock Market Drivers

Asian stocks traded mixed, paring initial gains, as the dollar inched higher alongside Treasury yields. US equity index futures advanced and the yen retreated.

Here are some key events coming up this week:

  • Third-quarter GDP for China comes Friday, with headline growth forecast to slow to 6.6% year on year from 6.7%, in addition to last month's retail sales and factory output.
  • Minutes from the Federal Reserve's latest policy meeting are due on Wednesday, with investors focused on projections for further interest rate rises.
  • Goldman Sachs, Morgan Stanley and Netflix are among companies reporting this week.

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