Sensex Opens Marginally Higher; Pharma Stocks Witness Buying

Asian shares are trading on a negative note today. The Nikkei 225 is down 0.35% while the Shanghai Composite is trading down by 0.93%.

Back home, India share markets opened the day marginally higher. The BSE Sensex is trading up by 34 points (up 0.1%) while the NSE Nifty is trading flat. The BSE Mid Cap index is trading down by 0.3%, while the BSE Small Cap index is trading down by 0.2%.

Sectoral indices have opened the day on a mixed note with healthcare stocks and power stocks witnessing maximum buying interest.

The rupee is trading at 71.43 to the US dollar.

In the news from pharma space, Lupin share price will be in focus as the United States Food and Drug Administration (USFDA) has completed cGMP inspection at Lupin’s Tarapur API Manufacturing Facility.

To know more about the company, you can access to Lupin’s Q1FY19 result analysis and Lupin’s 2017-18 Annual Report Analysis on our website.

From the airline’s sector, Jet Airways share price will be in focus today as the company, as per a leading financial daily, has finalized boutique investment bank Moelis & Co to manage a stake sale in the loyalty rewards programme that the carrier co-owns with Etihad Airways.

In the news from macroeconomic space, as per a leading financial daily, the government will not cut excise duty on petrol and diesel to cushion rising prices as it has limited fiscal space available to take any loss in its revenue collections.NTPC share price will be in focus today as the company has turned down a proposal from bankers, led by State Bank of India, to buy the stressed power assets estimated to be close to Rs 1.9 lakh crore.

Note that petrol and diesel prices on Tuesday touched fresh highs as rupee dipped to a record low of 71.54 against US dollar, making imports costlier.

In the news from commodity markets, crude oil prices are witnessing selling pressure and have reversed their uptrend seen yesterday. This is seen as the impact of a tropical storm on US Gulf coast production was not as strong as initially expected.