ONGC was the top loser in the Sensex pack, shedding around 5 per cent, followed by Sun Pharma, PowerGrid, Bajaj Finance, IndusInd Bank, Dr Reddy's and Maruti. On the other hand, Reliance Industries, Titan, HDFC Bank and ITC were the gainers.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The total investor wealth, measured in terms of cumulative value of all listed stocks on BSE, slumped by over Rs 7 lakh crore during the torrid week.
Bharti Airtel was the top loser in the Sensex pack, dropping 4.34 per cent, followed by PowerGrid (2.26 per cent), Sun Pharma (1.75 per cent), M&M (1.67 per cent) and TCS (1.60 per cent).
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
As cases of 'black fungus' among COVID-19 patients in the country rise to cross 7,000, the Centre on Thursday urged all states and union territories to declare it as a notifiable disease under the Epidemic Diseases Act to ensure mandatory surveillance to tackle the 'new challenge'.
GSK India, which has a turnover of Rs 1,751 crore (Rs 17.51 billion) and launched a cervical cancer drug, Cervarix, and breast cancer drug, Tykerb, last year, plans to launch Promacta, the first oral medication to increase platelet production for people with serious blood disorder, from its parent stable during the current year. Promacta is a relatively new drug, for which approval was given by the US Food and Drug Administration in November last year.
Indian auto and pharma industries import several critical components and raw materials from China.
Other gainers included SBI, Kotak Bank, Sun Pharma, Tata Motors, M&M and Tata Steel, rising up to 5.19 per cent.
HDFC Bank was the top gainer in the Sensex pack, rallying nearly 4 per cent, Infosys jumped over 3 per cent. Sun Pharma, NTPC, HCL Tech, Tech Mahindra, HDFC, RIL and TCS also closed with gains. On the other hand, Axis Bank was the top laggard, followed by ITC, ICICI Bank, IndusInd Bank and Maruti Suzuki.
Mumbai-based Sun Pharmaceuticals has filed a post-grant opposition with the Mumbai patent office against a product patent granted to the extended release version of Johnson and Johnson's (J&J) blockbuster drug Risperdal, used in the treatment of psychological disorders and schizophrenia.
Equity indices gave up early gains to close in the red for the third session on the trot on Wednesday, weighed by selling in banking and finance counters amid inflationary pressures and persistent foreign fund outflows. A weak rupee and lacklustre global cues also kept buying sentiment in check, traders said. The 30-share BSE Sensex opened on a firm footing but failed to hold on the momentum, finishing 237.44 points or 0.41 per cent lower at 58,338.93. On similar lines, the broader NSE Nifty dipped 54.65 points or 0.31 per cent to close at 17,475.65.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
4 Ranbaxy facilities in India have been barred from exporting to US.
The broader NSE Nifty closed 1.25 points, or 0.01 per cent down at 10,564.05.
The index widened its loss towards the fag-end on emergence of intense selling in heavyweights like ITC, RIL and ICICI Bank. In percentage terms, however, Sun Pharma was the biggest loser with 9.39 per cent drop. Intra-day, the pharma major's shares tanked over 20 per cent.
Nicholas Piramal India, a dominant player in the domestic pharmaceutical industry, appears to be unfazed by the anticipated consequences of the product patent regime that comes into play from January 2005.
Cheap bulk drug imports from China may soon post a threat to the Rs 20,000 crore (Rs 200 billion) domestic bulk drug industry.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Among the sectors, the survey has projected IT, pharma and life sciences, and ITeS among those looking to effect the highest increase in salaries.
India is not keen to 'bow down' to demands related to indemnity against legal liabilities in case any vaccine recipient develops severe adverse reactions post inoculation.
IT minister Ravi Shankar Prasad on Wednesday slammed Twitter for deliberate defiance and failure to comply with the country's new IT rules, which has led to the United States giant losing its intermediary status in India and becoming liable for users posting any unlawful content.
The rally in index heavyweight ITC has boosted the sentiment across the board.
It is one of 42 drug-making factories in India that the FDA has banned in recent years
The Nifty rose 176.50 points, or 1.74 per cent, during the week.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The central government is importing COVID-19 vaccines and is in talks with COVID-19 vaccine manufacturers Pfizer and Johnson & Johnson, Union Minister of State for Home Affairs G Kishan Reddy said.
HDFC Bank, Asian Paints, Kotak Bank, Bajaj Auto and HDFC were among the other laggards.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
With life returning to normalcy gradually, hiring activities grew 24 per cent in September as compared to the previous month mostly driven by pharmaceutical and education sectors, according to a report. At 1,755 job postings, there was an improvement of 24 per cent in hiring activities last month compared to August with 1,413 listings, according to the Naukri JobSpeak Index for September 2020
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The announcement comes a day after the Subject Expert Committee (SEC) on COVID-19 of the CDSCO recommended granting emergency use authorisation (EUA) to the COVID-19 vaccines Covovax and Corbevax with certain conditions.
Releasing a report titled 'Profiting from Pain' in Davos, the rights group further said as the cost of essential goods rises faster than it has in decades, billionaires in the food and energy sectors are increasing their fortunes by $1 billion every two days.
ICICI Bank was the top laggard in the Sensex pack, sinking over 10 per cent, followed by Bajaj Finance, HDFC, IndusInd Bank, Axis Bank and Maruti. Bharti Airtel and Sun Pharma were the gainers in the BSE index. NSE Nifty suffered a heavy loss of 566.40 points, or 5.74 per cent, to settle at 9,293.50.
Import segments which recorded negative growth include gold, silver, transport equipment, coal, fertiliser, machinery and machine tools. However, exports of oil seeds, coffee, rice, tobacco, spices, pharma, and chemicals reported positive growth in June.
Two men, aged 32 and 48, were given the first shot of the 'Covishield' vaccine, being manufactured by Pune-based Serum Institute of India, at Bharti Vidyapeeth's Medical College and Hospital on Wednesday. The dose will be repeated after one month, an official said.
An expert panel of the country's drugs regulatory authority had recommended against granting such approval to the firm at this stage just two days ago, officials said.
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