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Markets will remain closed on April 17, 2024 on account of Ram Navami.

Indian share markets rule firm
Tue, 27 Nov 01:30 pm

Backed by all-round buying Indian share markets continued to trade higher in the post noon trading session. All the sectoral indices are trading positive with realty, consumer durables and banking stocks leading the gains.

BSE-Sensex is up 253 points and NSE-Nifty is trading up by 73 points. Both BSE Mid Cap and BSE Small Cap indices are trading up by 1% and 0.8%, respectively. The rupee is trading at 55.6 to the US dollar.

Majority of the large IT stocks are trading positive with Moser Baer and Infosys being the biggest gainers. According to a leading financial daily, a study by International Data Corporation (IDC) has projected Latin America to be the next growth driver for the Indian Information Technology (IT) services industry. As per IDC, in the wake of markets stagnating in developed countries, Indian IT companies are increasingly focusing on the Latin American markets where rising economic prosperity is driving demand for technologies like cloud, mobility, big data and social web. Big banks, telecommunication companies and large manufacturers in Latin America have started to outsource their IT operations to meet their rising technology demands. IDC has estimated IT services spending in Latin America to grow at a compounded annual growth rate of 10.8% creating a market opportunity of US$ 40 bn by 2016.

Most of the Indian pharma stocks are trading positive with Fresnius Kabi and Orchid Chemicals, being the biggest gainers. A leading business daily recently reported that Lupin's subsidiary has launched the generic version of the anti-cholestrol drug Tricor in the US market after it received approval from US Food and Drug Administration (USFDA). The firm has lunched fenofibrate tablets which are the generic version of Abott's Tricor tablets in 48 mg and 145 mg strengths. Reportedly, Tricor is being marketed by only three players in the US market namely, Lupin, Teva and Abbott translating into a good revenue driver for Lupin. According to the IMS Health, June 2012 data, Tricor tablets in 48 mg and 145 mg strengths have a market size of US$ 1.26 bn in the US.

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