Sensex Opens Flat; Telecom and Healthcare Stocks Gain

Thu, 25 Jul 09:30 am

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Asian share markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.3% while the Hang Seng is also up 0.3%. The Nikkei 225 is trading positive. Meanwhile, the S&P 500 and Nasdaq hit record highs on Wednesday after reassuring comments from Texas Instruments about global chip demand blunted the impact of weak earnings reports from Boeing and Caterpillar.

Back home, India share markets opened the day on a flat note with positive bias. The BSE Sensex is trading up by 68 points while the NSE Nifty is trading up by 7 points. The BSE Mid Cap index opened up by 0.1%, while BSE Small Cap index opened down by 0.1%.

Sectoral indices have opened the day on a mixed note with oil & gas stocks and realty stocks witnessing maximum selling pressure. Telecom stocks and healthcare stocks have opened the day in green.

Note that, Nifty broke below 200 Day EMA yesterday. While mainstream media is flashing headlines around how it could be critical, Apurva Sheth sees it as an opportunity to invest in such times.

Watch him talk about investing opportunities in equities and other commodities such as gold and silver.

Speaking of stock markets and gold, gold has always been a staple investment for Indian households.

There are various opinions on what proportion of the portfolio could be allocated to the yellow metal.

Stocks versus Gold Over Past 5 Years

Here's what co-head of research at Equitymaster, Tanushree Banerjee wrote in one of the edition of The 5 Minute WrapUp:

• "The magical metal will be no match for the Indian mettle over the next decade.
  
  So, by all means buy some gold for inflation hedge.
  
  But don't lose sight of the Rebirth of India opportunity."

Moving on, the rupee is currently trading at 68.98 against the US$.

The Indian rupee furthered its weakening trend for a third session in a row on July 24, edging lower by 4 paise to 68.98 against the US dollar as foreign fund outflows and higher crude oil prices weighed on sentiment.

An unabated sell-off in domestic equities also impacted trading pattern in the forex market.

The rupee opened sharply lower at 69.10 but pared most of the the losses during the day and finally settled at 68.98 against the American currency, lower by 4 paise over its previous close at the interbank foreign exchange market.

The domestic currency had settled at 68.94 against the US dollar on Tuesday.

Reportedly, the rupee opened on a weak note and settled 4 paise down against the US dollar amid sustained foreign fund outflows and rising crude oil prices. Lower domestic equities and mixed Asian currencies against US dollar weighed on rupee.

Further, the rupee is expected to trade in a narrow range ahead of the much crucial European Central Bank (ECB) policy statement to be released today.

Other major global cues that are going to dictate terms to the rupee include the US second quarter preliminary GDP print on Friday and the Federal Open Market Committee (FOMC) meeting on July 31, the reports noted.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.08% lower at 97.62.

Speaking of currencies, Vijay Bhambwani, editor of Weekly Cash Alerts, tells you the main reasons why not to trade commodities and currencies the same way you would trade equities. Here's an excerpt of what he wrote...

• Currencies are traded in pairs and the most liquid is the USDINR. Currencies are traded in four decimal points just as bonds are. The international derivative trader's association has indicated that forex may be traded in 6 decimals in the coming few years.
  
  It takes months sometimes for the currency pair to pass the next round figure, say from 70 to 71.
  
  Can you really trade commodities and currencies alike or for that matter, equities and currencies alike? Definitely not!

To know more, you can read Vijay's entire article here: Is Trading in Equities, Commodities, and Currencies the Same?

Moving on to the news from the pharma sector. As per an article in a leading financial daily, Cipla USA Inc., a wholly-owned subsidiary of the leading global pharmaceutical company Cipla, announced the acquisition of the prescription drug ZEMDRI (Plazomicin) from Achaogen Inc. in a Chapter 11, US Bankruptcy Code auction of Achaogen's assets.

Cipla USA has acquired worldwide rights of ZEMDRI (excluding Greater China) with its allied assets and limited liabilities.

ZEMDRI is a once-daily novel intravenous (IV) aminoglycoside for the treatment of complicated urinary tract infections (cUTI), including pyelonephritis, in adults who are unresponsive to currently available treatment options.

The drug was approved by the United States Food & Drug Administration (USFDA) in June 2018, and was launched in the same year, with patent protection expected to continue until 2031 or 2032.

It has been granted a new technology add-on payment (NTAP) by the Centers for Medicare & Medicaid Services (CMS), for its administration in a hospital in-patient setting.

The product has also been filed for approval in the European Union (EU).

Cipla USA to hold worldwide rights (excluding Greater China) of ZEMDRI (IV Plazomicin).

This acquisition is consistent with Cipla's legacy of pioneering contribution to global healthcare challenges, industry leadership in anti-microbial resistance (AMR) stewardship practices and expertise in manufacturing, marketing and educational programs in the anti-infective segment

The product is expected to add depth and synergy to its pipeline of specialty products in the US.

Cipla share price opened the day up by 2.2%.

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!

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