Sensex Trades Weak; Consumer Durables & Realty Stocks Drag

Stock markets in India fell in the afternoon trading session following losses in global markets and a weaker rupee. Losses are largely seen in consumer durables stocks and realty stocks.

The BSE Sensex is trading down by 195 points and the NSE Nifty is trading down by 73 points. Meanwhile, the BSE Mid Cap index is trading down by 1.5% while, the BSE Small Cap index is trading down by 1.3%.

Pharma stocks are trading on a mixed note with Biocon & Alembic Pharma being among the top gainers. As per an article in a leading financial daily, Zydus Cadila has received final approval from the US Food and Drug Administration (USFDA) to market Acyclovir Sodium Injection.

Reportedly, the drug will be marketed in the strengths of 500 mg (base)/10 mL (50 mg (base)/ml) and 1,000 mg (base)/20mL (50 mg (base)/mL) single-dose vials (US RLD-Zovirax for injection).

It will be manufactured at the group’s formulations manufacturing facility at Moraiya in Ahmedabad.

Acyclovir is an antiviral drug. It slows the growth and spread of the herpes virus in the body. Acyclovir injection is used to treat severe infections caused by herpes viruses.

Note that, the group now has 216 approvals and has so far filed over 330 ANDAs since the commencement of the filing process in FY 2003-04.

At the time of writing, Cadila Healthcare share price was trading down by 0.4%.To know more about the company, you can access to Cadila Healthcare’s Q1FY19 result analysis and Cadila Healthcare’s 2017-18 Annual Report Analysis on our website.

To know what’s moving the Indian stock markets today, check out the most recent share market updates here.

Moving on to the news from the steel sector. As per an article, The Economic Times, JSW Steel and its promoters have acquired around 88% stake in the Monnet Ispat and Energy Ltd following completion of the insolvency resolution proceedings.