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SGX Nifty Down 40 Points, Mutual Fund Activity in November, Pharma Sales Growth, and Top Buzzing Stocks Today
Tue, 8 Dec Pre-Open | Monish Vora, TM Team

Indian share markets extended gains and ended at record high levels yesterday.

The Sensex, which crossed the 45,000-mark last week for the first time, continued momentum and rose more than 340 points supported by financials, pharma and FMCG stocks.

At the closing bell yesterday, the BSE Sensex stood higher by 347 points (up 0.8%).

The NSE Nifty closed higher by 97 points (up 0.7%).

Adani Ports and UPL were among the top gainers.

The BSE MidCap index and the BSE SmallCap index ended up by 1% and 1.3%, respectively.

On the sectoral front, gains were largely seen in the telecom sector, FMCG sector and finance sector.

At 8:00 am today, the SGX Nifty was trading down by 40 points, or 0.3% lower at 13,410 levels. Indian share markets are headed for a negative opening today following the negative trend on SGX Nifty.

Gold prices for the latest contract on MCX were trading flat at Rs 49,152 per 10 grams at the time of closing stock market hours yesterday.

To know more about gold, you can check out our detailed article on investing in gold here: How to Invest in Gold?

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Top Stocks in Focus Today

ONGC will be among the top buzzing stocks today.

ONGC Videsh (OVL), the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), has made a "significant" oil discovery in an onshore block in Colombia.

OVL is the operator in the block with a 70% stake. Geopark, an independent oil and gas company focused in Latin America, has the remaining 30% interest.

The company struck oil while drilling an appraisal well 'Indico-2' in CPO-5 block in Llanos Basin of Colombia. The well 'Indico-2' encountered a net pay of 147 feet which during initial testing produced oil of 35.2 degrees API in commercial quantity at the rate of 6,300 barrels per day.

FMCG rivals Dabur and Marico will also be in focus today as the companies are engaged in an advertising war over their honey products, alleging that the other one is making false claims in their ads.

While Marico has filed a fresh complaint with the Advertising Standards Council of India (ASCI), Dabur also plans to lodge a complaint with the advertising regulator Marico's Saffola Honey samples.

The ad was triggered after research and advocacy firm Centre for Science and Environment (CSE) said that ten brands of honey including Dabur, Patanjali, Baidyanath, Zandu, Hitkari and Apis Himalaya are adulterated with sugar syrup and failed a nuclear magnetic resonance spectroscopy (NMR) test. The CSE report has been denied by the brands.

Market participants will also track Yes Bank share price today as the lender and four other firms- Adani Enterprises, PI Industries, Hindustan Aeronautics and Jubilant Food-Works - are likely to get upgraded as part of the half-yearly market-cap categorization by mutual fund industry body Association of Mutual Funds in India (AMFI), which is expected to release a fresh list by January 5.

Mutual Funds Continue their Selling Spree in November

In news from the mutual funds space, continuing their selling spree for the sixth straight month, mutual funds pulled out Rs 307.6 billion from equities in November on profit booking.

With this, net withdrawal by mutual funds has reached to over Rs 280 billion in the first 11 months of the ongoing year (January-November), data available with the markets regulator showed.

According to the data, MFs pulled out Rs 307.6 billion from equities in November. This has taken the outflow to over Rs 684 billion since June.

MFs withdrew Rs 144.9 billion in October, Rs 41.3 billion in September, Rs 92.1 billion in August, Rs 91.9 billion in July and Rs 6.1 billion in June.

However, they invested over Rs 402 billion in the first five months of the year (January-May). Of this, Rs 302.9 billion was invested in March.

Despite the withdrawals, the markets have continued to rise as flows from FPIs have been robust. Foreign Portfolio Investors (FPIs) have put in over Rs 1.08 lakh crore in the Indian equity markets during January-November period of 2020.

How these numbers show up in the coming months remains to be seen.

Meanwhile, we will keep you updated on the latest developments from this space. Stay tuned.

Learn: How to Potentially Accumulate Rs 7 Crore in Wealth Over the Long-term

Pharma Sales Slow Down to 1% in November

Growth in pharma sales slowed down to 1% in November at Rs 128.3 billion, as acute therapies resumed their struggle after a brief sign of recovery, data from market research firm AIOCD-AWACS showed.

In October, medicine sales in India stood at Rs 135.4 billion, up nearly 10% year-on-year.

Anti-infectives medicine sales were up 0.2% in November at Rs 18.1 billion, against 6.6% growth recorded in October. Associated therapies like gastrointestinal drugs and pain and analgesics showed a 3.1% growth and 5.2% decline respectively.

Respiratory medicines sales slumped at a steeper 6.9% compared to 6.6% in October.

Barring Cipla and Glenmark Pharma, all top 20 drug makers either recorded single digit growth or a decline. Cipla and Glenmark recorded 12.6% and 14.5% growth respectively.

Sales of Micro Lab Mankind Pharma, Pfizer and GlaxoSmithKline Pharma were down 0.6-5.4%, the data showed.

For the country's largest seller of hydroxychloroquine, Ipca Laboratories' sales growth slowed to 4.9% during the month.

We are closely tracking this sector and will keep you updated on all the top news from this space. Stay tuned.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

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

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Stock Market Updates

GRINDWELL NORTON Share Price Down by 5%; BSE CAPITAL GOODS Index Down 1.5% (Today's Market)

Mar 5, 2021 03:30 PM

GRINDWELL NORTON share price is trading down by 5% and its current market price is Rs 950. The BSE CAPITAL GOODS is down by 1.5%. The top gainers in the BSE CAPITAL GOODS Index are V GUARD INDUSTRIES (up 3.3%) and AIA ENGINEERING (up 0.3%). The top losers is GRINDWELL NORTON (down 5.1%).

ADITYA BIRLA CAPITAL Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 5, 2021 03:28 PM

ADITYA BIRLA CAPITAL share price is trading down by 5% and its current market price is Rs 131. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 7.3%) and MOTILAL OSWAL (up 5.9%). The top losers are ADITYA BIRLA CAPITAL (down 5.0%) and APOLLO HOSPITALS (down 5.2%).

HAVELLS INDIA Share Price Down by 5%; BSE CONSUMER DURABLES Index Down 0.7% (Today's Market)

Mar 5, 2021 03:20 PM

HAVELLS INDIA share price is trading down by 5% and its current market price is Rs 1,163. The BSE CONSUMER DURABLES is down by 0.7%. The top gainers in the BSE CONSUMER DURABLES Index are BLUE STAR (up 1.7%) and CROMPTON GREAVES CONSUMER ELEC. (up 1.3%). The top losers is HAVELLS INDIA (down 5.1%).

BALMER LAWRIE Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 5, 2021 03:18 PM

BALMER LAWRIE share price is trading down by 5% and its current market price is Rs 148. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 6.8%) and MOTILAL OSWAL (up 6.1%). The top losers are BALMER LAWRIE (down 5.0%) and APOLLO HOSPITALS (down 5.5%).

TRENT Share Price Down by 5%; BSE 500 Index Down 1.3% (Today's Market)

Mar 5, 2021 03:16 PM

TRENT share price is trading down by 5% and its current market price is Rs 936. The BSE 500 is down by 1.3%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 6.6%) and MOTILAL OSWAL (up 6.1%). The top losers are TRENT (down 5.4%) and APOLLO HOSPITALS (down 5.5%).

Sensex Trades Marginally Lower; Dow Futures Down by 39 Points (Today's Market)

Mar 5, 2021 12:30 pm

BSE Sensex is trading down by 160 points, while the NSE Nifty is trading down by 66 points.

View More Indian Share Market News

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