Asian equity markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.15%, while the Hang Seng is down 0.99%. The Shanghai Composite is trading down by 0.86%. Stock markets in the US finished their previous session on a positive note.
Meanwhile, Indian share markets have opened the day on a flat note with negative bias. The BSE Sensex is trading lower by 42 points while the NSE Nifty is trading lower by 17 points. The BSE Mid Cap index and BSE Small Cap index both have opened the day down by 0.1%.
Sectoral indices have opened the day on a mixed note with automobile stocks and realty sector leading the pack of gainers. While metal stocks and power stocks are trading in the red. The rupee is trading at 66.64 to the US$.
GAIL share price slumped 4.2% as the stock will turn ex-bonus in the decided ratio of 1:3 today. The board of directors of the company at their meeting held on 25 January 2017 had recommended the issuance of one bonus share of Rs 10 for existing three equity shares of Rs 10 each fully paid up.
Pharma stocks have opened the day on a mixed note with Elder Pharma and Natco Pharma being the most active stocks in this space. According to an article in a leading financial daily, the US Food and Drug Administration (USFDA) has made 13 observations relating to deviation from good manufacturing practices at Dr. Reddy's Laboratories Ltd's cancer formulations facility at Duvvada in Visakhapatnam.
Dr Reddy's share price opened the day down by 2.8%.
Moving on to the news from power stocks. National Thermal Power Corporation (NTPC) has announced the commissioning of 45 MW solar capacity at Bhadla in Rajasthan taking the total installed capacity of the project to 160 MW. Last month, NTPC had commissioned 115 MW capacity out of the 260 MW Bhadla solar power project.
NTPC share price began trading down by 0.5%.
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