Sensex Finishes On A Firm Note; Pharma Stocks Rise

After trading on a flat note in the noon session, Indian share markets witnessed buying momentum in the afternoon session ahead of exit polls after the second phase of Gujarat elections today.

At the closing bell, the BSE Sensex closed higher by 194 points and the NSE Nifty finished higher by 59 points. The S&P BSE Mid Cap finished up by 0.1% while S&P BSE Small Cap finished down by 0.3%. Gains were largely seen in energy sector, bank sector and FMCG sector.

Asian stock markets finished lower today with shares in China leading the region. The Shanghai Composite is down 0.32% while Japan’s Nikkei 225 is off 0.28% and Hong Kong’s Hang Seng is lower by 0.19%. European markets are lower today with shares in Germany off the most. The DAX is down 0.27% while France’s CAC 40 is off 0.23% and London’s FTSE 100 is lower by 0.17%.

Rupee was trading at Rs 64.27 against the US$ in the afternoon session. Oil prices were trading at US$ 56.59 at the time of writing.

As per an article in The Economic Times, Torrent Pharmaceuticals Limited announced that it has completed acquisition of branded business of Unichem Laboratories Limited for India and Nepal, including its Sikkim manufacturing facility, on a going concern basis by way of slump sale.

This transaction was in pursuance of the definitive binding agreement entered into between Torrent and Unichem on November 3, 2017.

Torrent pharma share price finished down by 0.7% while Unichem Laboratories share price finished up by 0.7%.

Lupin share price finished up by 1% on the BSE. The company received final approval for its Tydemy (Drospirenone, Ethinyl Estradiol, and Levomefolate Calcium Tablets, 3 mg/0.03 mg/0.451 mg and Levomefolate Calcium Tablets, 0.451 mg) from the United States Food and Drug Administration (USFDA) to market a generic version of Safyral Tablets of Bayer HealthCare Pharmaceuticals Inc.