Asian stock markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.15% while the Hang Seng is up 0.66%. The Shanghai Composite is trading up by 0.52%. US stocks ended in green on Wednesday, with gains in real estate and utilities offsetting declines in energy and telecommunications stocks.
Back home, India share markets have opened the day marginally higher. The BSE Sensex is trading higher by 58 points while the NSE Nifty is trading higher by 19 points. The BSE Mid Cap index and BSE Small Cap index both opened the day up by 0.3% & 0.2% respectively.
Barring banking sector & consumer durables sector, all sectoral indices have opened the day in green with metal stocks and power stocks witnessing maximum buying interest. The rupee is trading at 64.16 to the US$.
Tata steel share price opened the day on an encouraging note on the reports that the company has appointed a domestic investment bank to manage its proposed rights issue of about US$2bn (Rs 128 bn). The stated purpose of the rights issue is to deleverage the firm.
Pharma stocks opened the day on a mixed note with Alembic Pharma and Panacea Biotech being the most active stocks in this space. As per an article in a leading financial daily, Aurobindo Pharma Ltd has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Fondaparinux Sodium injection.
The injections to be marketed will be in the strengths of 2.5 mg/0.5 mL, 5 mg/0.4 mL, 7.5 mg/0.6 mL, and 10 mg/0.8 mL single-dose prefilled syringes. It is used to prevent deep vein thrombosis (DVT).
Reportedly, the approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug (RLD) product Arixtra Injection of Mylan Ireland. The product will be launched in January 2018.
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