Pharma Stocks Reel Under Heat of Government Action

Pharma stocks were under strong under pressure for second back to back day, weighed around a weekend request from the Government banning more than 300 medicine. The BSE Healthcare stocks was down 1.5 for every penny, adding to its 3 per cent misfortune endured on Tuesday. 

The yearly effect of the ban is evaluated at around 4 per cent or about Rs. 4,000 crore of around Rs. 1 lakh crore Indian domestic pharma market. 

The health ministry has banned 344 settled measurement mix drugs, including several cough syrups and anti-toxins and analgesics syntheses, saying they include "danger" to people and more secure choices were accessible. 

A percentage of the drugmakers hurt by the Government turn have drawn closer court and got an interim relief. Nonetheless, conclusion keeps on being negative in pharma stocks, traders said. 

Today the major losers in the pharma stocks, sun pharma and Dr.Reddy’s down nearly 2 per cent while Lupin, Glenmark were 1 per cent lower.

Agri RM seed prices declined on fresh arrival in the spot market

RM Seed Apr’16 futures at NCDEX platform yesterday opened on a positive note however it traded down for most part of the day. The prices closed down as higher arrivals of fresh RM Seed crops weigh on the prices.

For today, we expect RM Seed futures at NCDEX to trade on a lower note. The arrivals of fresh mustard crops are increasing at major physical markets in the major producing regions. Higher supplies of domestic mustard oil amid steady demand may pressurize its prices.

Monday Market News with Hot Stocks Updates

Monday Morning gave a nice opening to the Indian Stock Market. BSE Sensex is trading at 24887.93 with the hike of 169.94 points & NSE Nifty is trading at 7559.20 with the hike of 79 points. But the situation is totally opposite with Mcx Commodity Market and all the mcx commodities are trading in loss. Although, the day is very much favorable for Ncdex Commodity Market. All the Ncdex commodities with all the future contract are trading with positive points, except Jeera May, kapas Apr and Ref soya oil Apr May. In Mcx, Gold is trading at 29420 with the loss of 80 points, Silver is trading at 37600 with the loss of 10 points and Crude oil at 2579 with the loss of 16 points. In Bse Sectors, Base Metal and PSU sector have received the respective loss of 116 and 15 points, whether all other sectors are trading in positive zone. 

In Hot Stocks Updates- Eicher Motors has announced the Intrim dividend of 100 rupees per share. Eicher Stock took a jump of 175 points after the announcement. National Buildings Construction Corp has got approval to exchange 1 share with 5 shares. HDFC has sold the 3 lakh mortgage shares of United Spirits. The company's stock is currently moving with the hike of 1.26%. Expert Advice to 

Buy Eicher Motors above 20164 for Targets 20189.41, 20224.94, 20260.5 & Stoploss 20128.51 

Sell NBCC below 930.25 for Targets 923.1, 915.52, 907.96 & Stoploss 937.89.