Stock Market TodayStock Market Today Indian stock indices opened cautiously, with Nifty trading slightly lower at 24,360. The markets are expected to open on a negative note due to mixed cues from global markets. Stocks in Focus * Dr. Reddy’s and Sun Pharma: Both companies are recalling products in the US due to production issues. * HDFC Bank: India’s largest private sector bank reported a 53% year-on-year growth in gross advances for the first quarter of FY18. Disclaimer This information is for informational purposes only. Investing in the market involves risks. Always consult an expert before investing. Stay Connected Follow us on YouTube, Facebook, Instagram, and Twitter for the latest updates.
Stock Market Today: With the Gift Nifty trading at 24,360, down nearly 17 points from the previous close of the Nifty futures, the Indian stock indices are off to a slow start. After mixed signals from international markets, the domestic equity market is expected to open on a negative note today. The Indian stock indices closed at record highs on Thursday, with the Sensex crossing the 80,000-mark for the first time.
Stock Market Today: Stocks in the Spotlight
Dr. Reddy’s and Sun Pharma
An Indian global pharmaceutical company called Dr. Reddy’s Laboratories manufactures and sells a variety of medicines both domestically and internationally. The company produces over 190 medicines and 60 active pharmaceutical ingredients (APIs) used in biotechnology, diagnostic kits, intensive care and drug manufacturing. Based on production issues, Dr. Reddy’s Laboratories and Sun Pharma are recalling products in the US, according to the latest Enforcement Report by the US Food and Drug Administration (USFDA).
HDFC Bank
Indian banking and financial services company HDFC Bank Limited, or HDFC for short, is headquartered in Mumbai. As of May 2024, it was ranked eighth globally by market capitalization and is the largest private sector bank in India by assets. On Thursday, HDFC Bank, India’s largest private sector lender, said its gross advances for the first quarter of FY18 rose 53% year-on-year to Rs 24.87 lakh crore.
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