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Home >> Market >> News >> News Details

Market Commentary - Pre-Session
05-Oct-2018     07:57

RBI policy to dictate market trend

Investors are closely watching the outcome of Reserve Bank of India (RBI)'s three-day Monetary Policy Committee (MPC) meeting today, 5 October 2018. The resolution of the MPC will be unveiled at 14:30 IST today, 5 October 2018.

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 53 points at the opening bell.

Overseas, Asian stocks were trading lower after US equities fell to a three-week low amid the surge in bond yields. US stocks dropped yesterday, 4 October 2018 as the rout in Treasuries that took yields to multiyear highs fueled a repricing of risk assets.

Back home, Indian equity benchmarks crashed yesterday, 4 October 2018 as blue chip stocks came under heavy selling pressure. The barometer index, the S&P BSE Sensex, fell 806.47 points or 2.24% to 35,169.16. The Nifty 50 index fell 309.85 points or 2.85% to 10,548.40.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 2760.63 crore yesterday, 4 October 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1823.59 crore yesterday, 4 October 2018, as per provisional data.

Among corporate news,  Pharma major Lupin announced the launch of Potassium Chloride Oral Solution USP, 20 mEq/15mL {10%) and 40 mEq/15 mL (20%), having received an approval from the United States Food and Drug Administration (FDA) earlier.

Lupin's Potassium Chloride Oral Solution USP, 20 mEq/15mL (10%) and 40 mEq/15 mL (20%), is the generic equivalent of Genus Lifesciences, Inc.'s Potassium Chloride Oral Solution. It is indicated for the treatment and prophylaxis of hypokalemia with or without metabolicalkalosis, in patients for whom dietary management with potassium-rich foods and/or diureticdose reduction are insufficient. Potassium Chloride Oral Solution had annual sales of approximately $184.95 million in the US {IQVIA MAT June 2018).

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