Sensex Ends 159 Points Higher; IT And Bank Stocks Witness Buying

Indian share markets traded on a positive note during closing hours and ended the day higher. Gains were largely seen in the IT sector and oil & gas sector, while metal stocks and healthcare stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 159 points (up 0.5%) and the NSE Nifty closed higher by 57 points (up 0.5%). The BSE Mid Cap index ended the day up by 0.3% while the BSE Small Cap index ended the day up by 4%.

Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng stood down by 0.2% and the Nikkei was trading up by 0.6%. The Shanghai Composite stood lower by 0.1%.

European markets were trading on a positive note. The FTSE 100 was down by 0.1%. The DAX was up by 0.2% while the CAC 40 was up by 0.1%.

The rupee was trading at 70.72 to the US$ at the time of writing.

In the news from the pharma space, Lupin share price was in focus today as the company said it has received an observation in the establishment inspection report (EIR) given by the United States Food and Drug Administration (USFDA) for its Tarapur facility in Maharashtra.

Lupin share price ended the day up by 0.4%.

You can read Lupin Q2FY19 result analysis and Lupin annual report on our website.

In another news, Alembic pharma share price was also in focus today as the company received approval from the US health regulator for Temazepam capsules, used for treatment of insomnia.

The approved abbreviated new drug application (ANDA) is the therapeutic equivalent to the reference listed drug product (RLD) Restoril Capsules.

Speaking of drug approvals, note that Indian pharma companies catering to the US markets are breathing a sigh of relief. After being adversely affected by import bans and the suspension of new drug approvals from manufacturing facilities in the past three years, there has been a sharp pick-up in new drug approvals in FY17.


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