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Asian markets continue downhill ride
Wed, 30 Nov 09:30 am

Most Asian stock markets have opened the day on a weak note with stock markets in China (down 2.3%), Hong Kong (down 1.8%) and Taiwan (down 1.3%) leading the losses. However, markets in Malaysia (up 0.7%) and Indonesia (up 0.3%) are trading firm. The Indian stock market have opened the day in the red. Stocks in the consumer durables and capital goods space are leading the losses.

The BSE-Sensex is trading lower by 85 points (0.5%), while the NSE-Nifty is down by around 25 points (0.5%). Mid cap and small cap stocks are also trading in the red, with the BSE Mid Cap and BSE Small Cap indices down by 0.3% and 0.1% respectively. The rupee is trading at 52.15 to the US dollar.

Auto stocks have opened the day on a mixed note with Maruti Suzuki and Hero MotoCorp trading firm. However, Tata Motors and Ashok Leyland are facing selling pressure. As per a leading financial daily, India's leading passenger car manufacturer Maruti Suzuki has finalised a deal with Italian carmaker Fiat. As per the deal, Maruti will source up to 1 lakh diesel engines per year from Fiat. With this deal Maruti plans to increase the production of Swift hatchback from January 2012. A significant rise in petrol prices has boosted the demand diesel cars. While on the one hand the company is having a surplus capacity of petrol cars, it does not have enough capacity to meet the rising demand for diesel models. During the early part of November, 2011, Maruti hiked prices of diesel cars by up to Rs 10,000.

Pharma Stocks have opened the day on a weak note with Ranbaxy Laboratories, Aurobindo Pharma and Opto Circuit leading the losses. Pfizer's Lipitor, the largest selling drug in the world will lose its patent in the US today as the expiry is due. However, the big question is: Will Ranbaxy Laboratories be able to get a slice of that pie? Generic pharma company, Ranbaxy, has six-month exclusivity on the product, but with the company yet to resolve regulatory problems related to the manufacturing facilities in India, uncertainty remains over its exclusivity. Ranbaxy and its Japanese parent Daiichi Sankyo have in the past been confident of being able to launch their generic version of Lipitor in 2011. However, the company has not given any road map for the same yet.

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Stock Market Updates

Sensex Trades Marginally Lower, Dow Futures Up by 174 Points (Today's Market)

May 14, 2021 12:30 pm

BSE Sensex is trading down by 29 points, while the NSE Nifty is trading down by 39 points.

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Indian share markets open flat. The BSE Sensex opened down by 33 points, while the Nifty is trading lower by 14 points.

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May 14, 2021 09:34 AM

ADANI TOTAL GAS share price is trading down by 5% and its current market price is Rs 1,330. The BSE 500 is down by 0.1%. The top gainers in the BSE 500 Index are ASIAN PAINTS (up 6.7%) and BANK OF INDIA (up 5.7%). The top losers are ADANI TOTAL GAS (down 5.2%) and VINATI ORGANICS (down 7.1%).

JINDAL STEEL & POWER Share Price Down by 5%; BSE METAL Index Down 2.4% (Today's Market)

May 14, 2021 09:32 AM

JINDAL STEEL & POWER share price is trading down by 5% and its current market price is Rs 466. The BSE METAL is down by 2.4%. The top losers are JINDAL STEEL & POWER (down 5.3%) and NMDC (down 5.3%).

BANK OF INDIA Share Price Up by 5%; BSE BANKEX Index Up 0.3% (Today's Market)

May 14, 2021 09:28 AM

BANK OF INDIA share price is trading up by 5% and its current market price is Rs 77. The BSE BANKEX is up by 0.3%. The top gainers in the BSE BANKEX Index is BANK OF INDIA (up 5.2%). The top losers is HDFC BANK (down 0.2%).

GRINDWELL NORTON Share Price Up by 8%; BSE CAPITAL GOODS Index Up 0.4% (Today's Market)

May 14, 2021 09:26 AM

GRINDWELL NORTON share price is trading up by 8% and its current market price is Rs 1,259. The BSE CAPITAL GOODS is up by 0.4%. The top gainers in the BSE CAPITAL GOODS Index is GRINDWELL NORTON (up 7.7%). The top losers are L&T (down 0.3%) and V GUARD INDUSTRIES (down 0.4%).

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