Share markets in India pared initial gains in the final hours of trade to end flat for the day. At the closing bell, the BSE Sensex closed higher by 8 points. While, the NSE Nifty finished lower by 10 points. Meanwhile, the S&P BSE Midcap Index ended flat while the S&P BSE Small Cap Index ended up by 0.4%.
Sectoral indices finished the day on a mixed note with information technology sector and metal sector witnessing maximum selling pressure. While realty stocks and power stocks finished the day in green.
Asian equity markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.56% and the Shanghai Composite rose 0.44%. The Nikkei 225 lost 0.05%. European markets are higher today with shares in Germany leading the region. The DAX is up 0.49% while France’s CAC 40 is up 0.28% and London’s FTSE 100 is up 0.08%.
The rupee was trading at Rs 64.44 against the US$ in the afternoon session. Oil prices were trading at US$ 46.26 at the time of writing.
Coal India share price ended the day on negative note after it was reported that the company will continue to offer domestic coal to non-power sectors in lieu of 50% of the import component in the ongoing fiscal.
The development assumes significance as the government is working to eliminate coal imports. However, the fuel will be provided to non-power consumers in sectors such as cement, fertiliser, and steel without affecting the supply to the power sector.
Pharma stocks closed the day on a mixed note with Natco Pharma and Piramal Enterprises leading the losses. As per an article in a leading financial daily, the US Food & Drug Administration (USFDA) has granted marketing approval for ezetimibe tablet (10 mg) to two Indian companies – Sun Pharma and Zydus Cadila.
Ezetimibe, a generic version of Merck’s Zetia tablet, is used to reduce high cholesterol levels. Zydus will produce the tablet at the group’s formulations manufacturing facility at Moraiya, Ahmedabad.
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