Sensex Ends 284 Points Up; FMCG & Metal Stocks Top Gainers

Indian share markets settled higher today taking cues from their Asian peers. At the closing bell, BSE Sensex ended up by 284 points, while, NSE Nifty ended up by 86 points.

Except for energy stocks, all sectoral indices ended the day in green with metal stocks and FMCG stocks leading the gainers.

Globally, Asian stock markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.4% and the Nikkei 225 rose 0.4%. The Shanghai Composite lost 1.3%. European markets are mixed today. The CAC 40 is up 0.2% while the FTSE 100 gains 0.1%. The DAX is off 0.1%.

The rupee was trading at Rs 70.23 against the US$ in the afternoon session.

In the news from the pharma sector. As per an article in a leading financial daily, drug price regulator, the National Pharmaceutical Pricing Authority (NPPA) has fixed the ceiling price of 92 drug formulations used for the treatment of cancer, hepatitis C, migraine and diabetes among others.

The prices have been fixed under the Drug (Prices Control) Order (DPCO), 2013.

The authority has mentioned that out of a total, the retail price of 72 scheduled formulations has been fixed, that of 9 has been revised. It has also revised the retail prices of 11 scheduled formulations.

In respect of medicines not under price control, manufacturers are allowed to increase the maximum retail price by 10% annually. Under the Drugs (Prices Control) Order (DPCO) 2013, it fixes ceiling price of essential medicines of Schedule I based on simple average of all medicines in a particular therapeutic segment with sales of more than 1%.

Set up in 1997, NPPA has been entrusted with the task of fixation/revision of prices of pharma products, enforcement of provisions of DPCO and monitoring of prices of controlled and decontrolled drugs.

Speaking of Indian pharma sector, the leading therapy segments in terms of brand launches from FY13 to FY17 were dermatology, anti-infectives, cardiology, and gastroenterology. Anti-diabetics have also been growing in double-digits for the past five years.