A divergent trend was witnessed in morning trade as the barometer index, the S&P BSE Sensex, was trading with small gains while the Nifty 50 index was trading with tiny losses. At 10:19 IST, the barometer index, the S&P BSE Sensex, was up 33.12 points or 0.09% at 38,895.35. The Nifty 50 index was down 2.80 points or 0.02% at 11,663.15.
Domestic stocks nudged higher in early trade on positive Asian stocks.
The S&P BSE Mid-Cap index was up 0.22%. The S&P BSE Small-Cap index was up 0.51%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1145 shares rose and 734 shares fell. A total of 115 shares were unchanged.
Power Grid Corporation of India (up 1.83%), IndusInd Bank (up 1.57%), Hindustan Unilever (up 0.95%), M&M (up 0.77%) and Infosys (up 0.54%) edged higher from the Sensex pack.
Vedanta (down 1.07%), Yes Bank (down 1.07%), HCL Technologies (down 0.92%), Asian Paints (down 0.75%) and Reliance Industries (down 0.75%) edged lower from the Sensex pack.
Cadila Healthcare rose 0.46%. Cadila Healthcare announced that Zydus Cadila has received the tentative approval from the USFDA to market Tofacitinib tablets (US RLD - Xeljanz Tablets), 5 mg. Tofacitinib is used alone or with other medications (such as methotrexate) to treat moderate to severe forms of rheumatoid arthritis. It helps to decrease pain, tenderness and swelling in the joints. It will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad. The group now has 260 approvals and has so far filed over 350 ANDAs since the commencement of the filing process in FY 2003-2004. The announcement was made on Saturday, 6 April 2019.
Torrent Pharmaceuticals fell 1.77%. Torrent Pharmaceuticals announced that the audit at Dahej Plant was carried out by US Food and Drug Administration (USFDA) in March 2019. The company has received certain observations which are procedural in nature and the company is confident of addressing them satisfactorily. The announcement was made on Saturday, 6 April 2019.
Overseas, Asian shares edged higher on Monday as investors cheered a much-needed rebound in US payrolls, while looking forward to more policy stimulus in China.
US stocks rose on Friday, boosted by better-than-expected job growth in March, which eased concerns of an economic slowdown that have periodically roiled financial markets over the past year.
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