Market opens tad higher

Key benchmark indices were trading higher in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 44.18 points or 0.17% at 26,809.83. The Nifty 50 index was up 7.80 points or 0.10% at 8,211.50. Investors were cautious ahead of Brexit referendum today, 23 June 2016.

The market breadth indicating the overall health of the market was positive. On BSE, 558 shares rose and 322 shares fell. A total of 49 shares were unchanged. The BSE Mid-Cap index was currently up 0.28%. The BSE Small-Cap index was currently up 0.19%. Both these indices outperformed the Sensex.

In the overseas market, Asian stocks were mixed today, 23 June 2016, following losses in US stocks, as investors remained on edge ahead of the UK vote on whether to leave the European Union (EU).

US stocks finished slightly lower yesterday, 22 June 2016, as polls showed the outcome of a UK referendum on whether to leave the EU remained too close to call a day ahead of the vote. An online survey showed 45% of respondents are in favor of ditching the EU while 44% prefer to stay. Nine percent of voters were undecided.

The key event in the UK and Europe is the Brexit referendum later in the global day today, 23 June 2016, where British voters will decide whether the country should remain a member of the EU or leave it.

Bharti Airtel was up 0.15%. The company announced before market hours today, 23 June 2016, that Orange has completed the acquisition of 100% of the operations of Airtel in Burkina Faso via its subsidiaries. The company shall update the exchange regarding the process for Sierra Leone as and when it is completed.

Lupin was up 0.72%. The company announced after market hours yesterday, 22 June 2016, that it has received final approval for its Amabelz Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1mg/0.5 mg) from the United States Food and Drug Administration (FDA) to market a generic version of Amneal Pharmaceuticals' Activella Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1 mg/ 0.5 mg).

Lupin's Amabelz Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1 mg/0.5mg) are the AB rated generic equivalent of Amneal Pharmaceuticals' Activella Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1 mg/0.5 mg). Amabelz Tablets 0.5 mg / 0.1 mg and 1 mg / 0.5 mg are indicated in a woman with a uterus for treatment of moderate to severe vasomotor symptoms due to menopause and prevention of postmenopausal osteoporosis. Amabelz Tablets 1 mg/0.5 mg is also indicated in a woman with a uterus for treatment of moderate to severe symptoms of vulvar and vaginal atrophy due to menopause. Activella had annual US sales of $95.6 million as per IMS MAT March 2016.

IndusInd Bank was up 0.09%. The stock turned ex-dividend today, 23 June 2016 for dividend of Rs 4.50 per share for the year ended 31 March 2016 (FY 2016).

Powered by Capital Market - Live News