Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks


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

Indian stock markets open in the green
Wed, 19 Nov 09:30 am

The major Asian stock markets have opened the day on a mixed note with markets in Hong Kong (down 0.3%) and China (down 0.2%) leading the losses. However, stock markets in Singapore (up 0.5%) and Malaysia (up 0.4%) were trading in the green. The Indian share markets have opened the day on a positive note. Barring banking and software, all sectoral indices have opened firm with the stocks in the metal and capital goods sector leading the gains.

The Sensex today is up by around 46 points (0.2%), while the NSE-Nifty is up by about 5 points (0.1%). The mid cap and small cap stocks too have opened on a positive note with BSE Mid Cap index and BSE Small Cap index up by around 0.5% and 0.7% respectively. The rupee is currently trading at Rs 61.86 to the US dollar.

As per a leading financial daily, Union government is likely to de-incentivize gold imports to prevent the rupee from depreciating like in August last year, when it had plummeted to the 69 per dollar level. It is noteworthy that gold imports have registered a 300% increase over last October, something that is a matter of concern as it can adversely impact current account deficit (CAD) and forex reserves. As such, finance ministry is having discussions on how to curb gold imports. The debate is whether to increase the import duty (10% at present) on gold or to do away with the relaxation granted to bullion trading houses and impose a moratorium on imports by them. No final decision has been taken yet, but if any such step is taken, gold prices are likely to go up.

Indian Pharma stocks have opened mixed with Panacea Biotech Ltd and Torrent Pharma Ltd leading the gains. However, Ranbaxy Laboratories Ltd and Wockhardt Ltd were leading the losses. As per a leading financial daily, Ranbaxy Laboratories Ltd has taken a legal recourse against the US drug regulator for revoking the tentative approvals granted for launching the generic versions of AstraZeneca's heartburn drug Nexium and Roche's antiviral Valcyte in the US. It is estimated that the company could have gained US$250 m, had it received the drug regulator's approval to launch both the drugs for six months exclusivity period. It is noteworthy here that soon after revoking approvals to Ranbaxy, FDA had approved Dr Reddy's Laboratories and the US-based Endo International to launch generic Valcyte. Currently, there is no other company with market exclusivity for Valcyte generic. In its lawsuit, Ranbaxy has requested the court to restrain FDA from approving any other generic versions of Valcyte and Nexium until the end of its six-month exclusive periods on the launch of the drugs.

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

Equitymaster requests your view! Post a comment on "Indian stock markets open in the green". Click here!


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms