Benchmark equity indices were flat to lower in opening deals on Monday. The Sensex opened at 31,195.72 points marginally higher from its previous close. Nifty opened at 9,103.95 points a tad lower from Thursday’s close.
Oil prices rallied Monday after top producers agreed to slash output and shore up coronavirus-ravaged energy markets, but some analysts were concerned the cuts did not go far enough.
US benchmark West Texas Intermediate was up 7.7% at USD 24.52 a barrel in Asian trade while Brent crude, the international benchmark, put on 5% to USD 33.08 a barrel.
The shares of India’s largest mortgage lender slipped into the red. At 09:53am the shares of HDFC Ltd traded 3% lower at ₹1654 apiece on the BSE while the benchmark Sensex dropped nearly 2%.
China’s central bank has raised its stake in HDFC Ltd to 1.01% from 0.8% earlier.
Zydus Cadila has received tentative approval from the USFDA to market Empagliflozin Tablets, in the strengths of 10 mg and 25 mg. The medication is used together with diet and exercise to improve blood sugar control in adults.
The Hyderabad-based company has received an establishment inspection report from the US health regulator for its Nalgonda-based active pharmaceutical ingredient manufacturing unit. “… we would like to inform you that we have received the EIR from the USFDA, for the above-referred facility, indicating closure of the audit,” it said in a regulatory filing.
The Indian rupee fell 15 paise to 76.43 against the US dollar in opening trade on Monday, tracking weak domestic equities and sharp rise in coronavirus cases in the country.
