Indian share markets pared all earlier intraday gains yesterday to end the session on a negative note.
At the closing bell yesterday, the BSE Sensex closed lower by 19 points and the NSE Nifty finished flat. The S&P BSE Mid Cap finished up by 0.5% while S&P BSE Small Cap finished up by 1%. Gains were largely seen in capital goods sector and metal sector, while auto stocks and software stocks witnessed selling pressure.
Top Stocks in Focus Today
From the banking sector, UCO Bank share price will be in focus today. The board of directors of the state-run lender have approved a proposal regarding issuing of equity shares to government on a preferential basis. This will help the bank raise Rs 13.7 billion, subject to necessary approval.
Metal stocks will also be in focus today. The Nifty Metal Index hit a fresh 52-week high in yesterday’s trade on the back of buying interest in major stocks.
Aarti Drugs share price will also be in focus today as the company scheduled a board meeting on January 8, to consider a proposal for buyback of its equity shares.
From the pharma sector, market participants will be tracking Dr Reddy’s Lab share price. The stock price of the company witnessed selling pressure yesterday on fears that clearance for the company’s injectables unit in Duvvada, Andhra Pradesh, may get delayed from the US Food and Drug Administration (USFDA). USFDA had issued a warning letter for the company’s unit in 2015. The unit was issued an establishment inspection report in which the US regulator did not clear the unit but pointed out areas of concern that the company needed to address.
Titan share price will be in focus today. The company yesterday stated that its third-quarter jewellery retail growth is in-line with the company’s expectation.
Govt. Unveils Electoral Bonds
In the news from bond markets, as per an article in the Economic Times, Finance minister Arun Jaitley has unveiled the framework for electoral bonds which is aimed at cleaning up political funding.
