Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Indian stock markets open in the green
Thu, 4 Dec 09:30 am

Most of the major Asian stock markets have opened the day on a positive note with stock markets in Japan (up 0.7%) and China (up 1.6%), leading the gains. However, stock markets in Indonesia (down 0.1%) and Malaysia (down 0.4%) were facing selling pressure. The Indian stock markets have opened the day in the green. Barring metals, all sectoral indices have opened firm with FMCG and realty sector leading the gains.

The Sensex today is up by around 148 points (0.5%), while the NSE-Nifty is up by about 24 points (0.3%). The mid cap and small cap stocks have also opened in the green with BSE Mid Cap index and BSE Small Cap index up by 0.3% and 0.5% respectively. The rupee is currently trading at Rs 61.91 to the US dollar.

Steel stocks have opened mixed with Adhunik Metaliks and Tayo Rolls leading the gains. However, Steel Authority of India Ltd and Jindal Steel Ltd were leading the losses. The government is set to kick off its Rs 580 bn disinvestment programme with dilution of 5% stake in Steel Authority of India Ltd (SAIL) on 5th December, 2014. As per the steel ministry, the government would sell 206.5 million shares in the company through the offer-for-sale (OFS) route. The offer would open at 9:15 am and close at 3:30 pm on 5th December and the ministry would declare the floor price a day today (December 4). The stake sale is likely to fetch the government Rs 17.4 bn.

Indian Pharma stocks have opened mixed with Natco Pharma Ltd and JB Chemicals Ltd leading the gains. However, Elder Pharma Ltd and Dr. Reddy's Laboratories Ltd were leading the losses. As per a leading financial daily, Cipla Ltd and Sweden based drug firm Meda Pharmaceuticals Inc have sued Apotex Inc and Apotex Corp in the Federal District Court in Delaware, US to enforce the Orange-Book listed patents of its allergy drug 'Dymista' nasal spray. The move has been in response to Apotex's submission to the US FDA of an abbreviated new drug application (ANDA), along with Paragraph IV certification, seeking approval to market a generic version of Meda's 'Dymista' prior to expiration of the 'Dymista' patents. Meda has exclusive license to certain US patents that cover the drug composition and its approved uses, which does not expire until 2026. It is noteworthy that in June 2013, Cipla granted the global commercialization rights for 'Dymista' to Meda AB except for certain geographies.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


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

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.