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?  

Markets shed their morning gains
Thu, 25 Nov 01:30 pm

Profit booking led the Indian markets to shed their gains of the first half and move towards the dotted line during the previous hour of trade. Currently stocks from the realty, metal and capital goods spaces are main losers. IT and healthcare stocks are however trading firm. Currently there are 2.1 losers for ever gainer on the overall BSE.

The BSE-Sensex and the NSE-Nifty indices are trading lower by about 10 points each. The pessimism has been extended towards midcap and smallcap stocks as the BSE-Midcap and BSE-Smallcap indices are trading lower by about 1% each. The rupee is trading at 45.64 to the US dollar.

Pharma stocks are currently trading mixed with Ranbaxy and Piramal Healthcare trading weak while Sun Pharmaceuticals and Lupin are trading firm. The stock of Sun Pharmaceuticals is trading firm on the back of the announcement of its receiving a tentative approval from the US FDA (Food and Drug Administration) to market a generic version of 'Cymbalta' in the American market. This drug is used to treat anxiety and depression. The company's US subsidiary has received this tentative approval for the drug in strengths of 20 mg, 30 mg and 60 mg. 'Cymbalta' is a registered trademark of Eli Lilly & Company. Considering that the annual sales of these capsules stands at nearly US$ 3 bn (approximately Rs 135 bn) in the US alone, this is a positive development for Sun Pharmaceuticals as it will augment its revenues from the highly competitive US generics market.

Auto stocks are trading mixed with Bajaj Auto and TVS Motor leading the gains while Maruti Suzuki, Ashok Leyland and M&M are facing selling pressure. A leading business daily has reported that India’s second largest motorcycle maker Bajaj Auto plans to manufacture commercial vehicles as well on a new platform it is developing in Waluj, Maharashtra, for its small car project. The company intends to develop a multidimensional platform through which it can manufacture commercial vehicles and passenger cars. The Waluj plant is being set up at a cost of Rs 5 bn. Of this, Rs 2.3 to 2.5 bn has been earmarked for investment in the current fiscal.

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 "Markets shed their morning gains". 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


Feb 23, 2018 (Close)