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Sensex Today Trades Lower | Nifty Below 23,400 | Garden Reach Shipbuilders Down 6%
Mon, 24 Jun 10:30 am

 Sensex Today Trades Lower | Nifty Below 23,400 | Garden Reach Shipbuilders Down 6%

Most Asian stocks fell on Monday, with Chinese markets leading losses on the prospect of a trade war with the European Union, while anticipation of key U.S. inflation data also kept sentiment on edge.

Tokyo, Manila and Jakarta edged higher.

The S&P 500 ticked lower Friday as shares of market bellwether Nvidia pulled back for a second day.

Here's a table showing how US stocks performed on Friday:

Stock/IndexLTPChange ($)Change (%)Day HighDay Low52-Week High52-Week Low
Alphabet180.262.551.43%182.51178.06182.51115.83
Apple207.49-2.19-1.04%211.89207.11220.2164.08
Meta494.78-6.92-1.38%503.45492.39531.49274.38
Tesla183.011.440.79%183.95180.69299.29138.8
Netflix686.127.091.04%686.9678.1689.88344.73
Amazon189.082.981.60%189.28185.86191.7118.35
Microsoft449.784.080.92%450.58446.51450.94309.45
Dow Jones39150.3315.570.04%39257.239061.740077.432327.2
Nasdaq19700.43-51.87-0.26%1980219643.519979.9314058.33
Data Source: Equitymaster

At present, the BSE Sensex is trading 293 points lower and NSE Nifty is trading 101 points lower.

ICICI Bank, ITC and HUL among the top gainers today.

Tata Steel, Cipla and SBI the other hand are among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets are trading on negative note. The BSE Midcap index is trading 0.7% lower and the BSE Smallcap index is trading 0.3% lower.

Sectoral indices are trading mixed today, with socks in power sector and FMCG sector witnessing most buying. Meanwhile stocks in metal sector and realty sector witnessing selling pressure.

The rupee is trading at Rs 83.53 against the US dollar.

In commodity markets, gold prices are trading marginally higher at Rs 71,690 per 10 grams today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of the stock market, two experienced fund managers, James Chanos (US) and Sankaran Naren (India), are concerned about high speculation and low margins of safety in their respective stock markets. This means there's a greater risk of losses if the market crashes.

The advice? Invest cautiously. Consider "stock market insurance".

Rahul Shah, Co-head of research at Equitymaster, talks about what exactly is this insurance and how does it work?

Tune into below video for more details.

ONGC Partners Indian Oil

State-owned Oil and Natural Gas Corporation and Indian Oil Corporation have signed an agreement to set up a small-scale liquefied natural gas plant near the Hatta gas field in Madhya Pradesh.

The memorandum of understanding (MoU) was signed on 17 June.

It has a gas discovery in the Vindhyan basin. Gas from it will be converted into liquefied natural gas (LNG) for transportation by trucks to consumers.

India's sedimentary basins, covering a total area of 3.4 million square kilometres, are divided into three categories -- Category-I - which has hydrocarbon reserves and already producing; Category-II that have contingent resources pending commercial production and Category-III with prospective resources awaiting discovery.

The discovery at Hatta, ONGC said, represents the culmination of five decades of sustained exploration efforts.

The 'non-binding MoU' for a technology demonstration small-scale LNG plant at Hatta, Madhya Pradesh between ONGC and Indian Oil Corporation (IOC) is a step towards a sustainable future.

Indian Oil Corporation Share Price Performance - 1 Year

For more details on ONGC & IOC, check out the Top 5 Undervalued PSU Stocks to Watch Out Post Election Results.

Lupin, Eugia Recall Products

Drugmaker Lupin and a unit of Aurobindo Pharma are recalling products from the American market due to manufacturing issues, according to the US health regulator.

As per the latest Enforcement Report issued by the US Food and Drug Administration (USFDA), a US-based unit of Lupin is recalling a medication used to treat bacterial infections.

The affected lot has been produced at the company's Mandideep-based manufacturing plant in Madhya Pradesh.

The company commenced the Class II nationwide (US) recall on 30 May this year.

The US health regulator stated that New Jersey-based Eugia US LLC, a subsidiary of Aurobindo Pharma, is recalling 70,125 vials of Dexamethasone Sodium Phosphate injection USP.

Eugia commenced the nationwide Class II recall on 23 May this year.

According to USFDA, a Class II recall is initiated in a situation in which the use of, or exposure to, a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote.

Eugia is also recalling 15,500 single-dose vials of Eptifibatide injection from the US market.

The medication prevents blood from clotting during episodes of chest pain or a heart attack.

Sun Pharma Partners Takeda

To commercialise Vonoprazan tablets in India Sun Pharmaceutical Industries announced that it has entered into a non-exclusive patent licensing agreement with Takeda Pharmaceutical Company (Takeda) to commercialise Vonoprazan tablets 10 mg, and 20 mg in India under the brand name Voltapraz.

Vonoprazan is a novel, orally active potassium competitive acid blocker (PCAB), used to treat reflux esophagitis and other acid peptic disorders.

The partnership demonstrates the company's commitment to gastrointestinal health by providing patients and healthcare practitioners with a novel treatment option to manage reflux esophagitis and other acid-peptic disorders.

Gastroesophageal Reflux Disease (GERD) is common in India.

In November 2023, Vonoprazan was approved by the US FDA for healing and maintenance of all grades of Erosive esophagitis and providing relief from heartburn associated with Erosive esophagitis, and in combination with amoxicillin and clarithromycin or amoxicillin alone for the treatment of Helicobacter pylori (H. pylori) infection in adults.

Vonoprazan was discovered and developed by Takeda.

The drug is approved in India for the treatment of adults with reflux esophagitis and other acid-peptic disorders.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


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