After opening the day in green, share markets in India witnessed volatile trading activity throughout the day and ended the day in red. Sectoral indices ended the day in red, with stocks in the energy sector and stocks in the consumer durables sector losing the most.
At the closing bell, the BSE Sensex stood lower by 181 points (down 0.5%) and the NSE Nifty closed down by 58 points (down 0.7%). The BSE Mid Cap index ended the day down 0.7%, while the BSE Small Cap index ended the day down by 2%.
Asian stock markets finished in green. As of the most recent closing prices, the Hang Seng was up by 2.3% and the Shanghai Composite was up by 4.1%. The Nikkei 225 was up by 0.4%. Meanwhile, European markets too were trading on a positive note. The FTSE 100 was up by 0.7%, The DAX, was up by 0.4% while the CAC 40 was up by 0.1%.
The rupee was trading at Rs 73.44 against the US$ in the afternoon session. Oil prices were trading at US$ 79.9 at the time of writing.
In news from stocks in the pharma sector. Unichem Labs was in focus today as the company received an establishment inspection report (EIR) from the US Food and Drug Administration (USFDA).
The company received the establishment inspection report (EIR) for its for its formulation facility in Pithampur and Rohat indicating a closure of inspection.
As per USFDA, after the completion of an inspection of a facility, an EIR is issued to a company detailing inspection findings.
The USFDA inspected the Pithampur unit during July 23-27 and Roha from July 30 to August 3, 2018.
Unichem Labs share price ended the day up 3%.
Indian pharma companies catering to international markets, and especially 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.
