Monday Morning Stock Updates with Market News

Indian Stock Market gave a nice opening in the Monday Morning Session. But after a surprising performance on Friday, Mcx Commodity market opened very poorly today. With the hike of 152.76 points Sensex is live at 25105.50 and with the rise of 44.20 points Nifty is live at 7648.55 level. In BSE, except IT and TECk all the sectors have received the positive changes. Whether, Gold live at 29131 with the loss of 225 points, Silver Live at 37756 with the loss of 387 points and Crude oil live at 2758 with the loss of 6 points. 

In Hot Stock Updates- Aurobindo Pharma has got approval from USFDA for its Osteoporosis Medicine. Aurobindo Pharma Stocks seems moving upwards after this news. Government has given approval for the FDI Investment in NBFC Companies. After the announcement in the budget the approval is given for 25 sectors. This news will give positive impact on finance companies like Magma Finance, M&M finance and Repco Homes.

Government cuts interest rate on PPF

A cut has been announced on interest rates on small savings. PPF interest rates have been reduced from 8.7% to 8.1%, while that on 5 year recurring deposit has been reduced to 7.4% from 8.4%. 

The interest rate on Kisan Vikas Patra has been slashed to 7.8% from 8.7%. 

Besides, the government also has slashed interest rates on 3-year time deposit to 7.4% from 8.4%; 5 year time deposit to 7.9% from 8.5% and on girl child scheme to 8.6% from 9.2%. 

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.