Markets will remain closed on May 01, 2024 on account of Maharashtra Day.

Indian Share Markets Open Strong; IT & Metal Stocks Top Gainers

Thu, 27 Dec 09:30 am

   Previous Close   

   Pre-Open   

   12:30 pm   

   Closing   

Global stock markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 3.7% while the Hang Seng is up 0.6%. The Shanghai Composite is trading up by 0.5%. Meanwhile, the Dow Jones Industrial Average surged more than 1,000 points for the first time on Wednesday, leading a broad Wall Street rebound after a report that holiday sales were the strongest in years helped mollify concerns about the health of the economy.

Back home, India share markets opened on a strong note. The BSE Sensex is trading up by 276 points while the NSE Nifty is trading up by 74 points. Both, the BSE Mid Cap index and BSE Small Cap index opened up by 0.8%.

All sectoral indices have opened the day in green with IT stocks and metal stocks witnessing maximum buying interest.

The rupee is currently trading at Rs 70.26 against the US$.

Pharma stocks are trading on a mixed note with Aarti Drugs & Sun Pharma leading the pack of gainers. As per an article in a leading financial daily, Sun Pharma's arm, DUSA Pharmaceuticals received relief from a US court in a patent infringement case.

Reportedly, Massachusetts-based DUSA has been granted preliminary injunctive relief by a federal district court prohibiting defendants Biofrontera Inc, Biofrontera Bioscience GmbH, Biofrontera Pharma GmbH, and Biofrontera AGf from using its confidential and proprietary trade secret information.

Earlier this year, DUSA filed a lawsuit against the Biofrontera defendants in the US District Court for the District of Massachusetts.

The lawsuit had alleged trade secret misappropriation and patent infringement of DUSA's photodynamic therapy patents covering its product.

Note that, innovators in the pharmaceutical industry make use of patents largely. They make heavy use of patents whenever they create a new drug. In one of the articles, we have spoken everything that you need to know about patented drugs, its advantages and its implications. Here's a snippet:

• "That's how the innovators in the pharmaceutical industry work. They make heavy use of patents whenever they create a new drug. The patent allows them to recoup the high capital expenditure that goes into the research and development (R&D) of new drugs. Companies that have a patent on a particular product are immune from competition for the duration of the patent."

Notably, a number of patent infringement cases have been filed against leading Indian pharma companies and their counterparts in other countries over the last few years.

To know more about the company, you can access to Sun Pharma's Q2FY19 result analysis and Sun Pharma's 2018-19 Annual Report Analysis on our website.

Sun Pharma share price opened the day up by 1.4%.

Moving on to the news from automobiles sector. According to the ratings agency ICRA, Two-wheeler sales in India will to grow at 8-10% in 2018-19 amid concerns over increasing cost of acquisition disturbing positive demand drivers.

Supported by growing per capita income, improved farm sentiment following near-normal monsoon over the last three financial years, higher minimum support price (MSP) and farm loan waiver in select states, the domestic two-wheeler industry volumes will grow.

Note that, the sector has reported 11.15 year-on-year volume growth in April-October 2019.

This is despite some one-off adverse events during the period, increase in insurance premium across the country, floods in Kerala in August 2018 and regulatory changes in West Bengal mandating two-wheeler sale to only valid licence holders in July 2018.

Further, as per ICRA, the credit profile of two-wheeler makers remains strong, supported by healthy capacity utilisation (77-80 per cent), high profitability and strong balance sheet across most original equipment manufacturers (OEMs).

However, on the flip side, it said concerns which could moderately disturb the positive demand drivers are increasing cost of acquisition of a two-wheeler due to rising raw material prices and hike in insurance premiums, rising interest rates and somewhat unevenly distributed monsoon in FY2019.

Speaking of the growth of the Indian economy, one of the major indicators of this is the volume of vehicles sold.

Auto Volumes are a Good Indicator of Economic Growth

For the first nine months of FY18 at least, the auto industry did well to grow in double digits after some lean years.

Vehicle sales grew by 11.3% YoY during this period. The best performing of the lot were commercial vehicles (CVs), volumes of which grew by 15% YoY. Two-wheelers also did well, growing by around 12% YoY.

And we're keeping a close eye on auto stocks in this correction.

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers