Indices at previous closing
Nifty50: 17,233 ▲+147 (+0.8%)
Sensex: 57,897 ▲+477 (+0.8%)
Nifty Bank: 35,183 ▲+125 (+0.3%)
For more updates on F&O, click here.
Cipla, Sun Pharma get nod for anti-Covid drug
Two pharma majors have received approval from the Drug Controller General of India to market and manufacture an anti-Covid drug in India. Molnupiravir is used to treat patients with mild-to-moderate Covid-19.
These two companies and Torrent Pharma had earlier this year entered into a non-exclusive agreement with Merck to make and supply a generic version of this drug in more than 100 countries including India. Meanwhile, shares of Cipla and Sun Pharma were up 0.2% and 3%, respectively.
IPO party to continue in 2022
The IPO party is far from over. Indian companies are expected to tap the equity markets next year to raise ₹1.5 lakh crore. State-owned behemoth Life Insurance Corporation (LIC) and tech-based players are likely to hit the bourse.
Analysts believe that LIC’s public issue could be the mother of all IPOs in India and will also attract global attention. Meanwhile, ₹1.2 lakh crore was raised through the IPO route in 2021.
Oil prices shrug off virus effect
Despite the rapid spread of the new virus variant, the prices of oil are on an upward trajectory and are back above the $75 mark. Analysts said that the oil prices are receiving support from disruption of production in Ecuador, Libya and Nigeria and the fall in the US inventories.
Investors will now monitor the OPEC+ meeting on January 4, 2022 in which the group will decide whether to implement the planned increase in production of oil in February.
Sectoral indices (December 28)
| Top gainers | Top losers |
| Nifty Auto ▲ 1.3% | NA |
| Nifty Oil & Gas ▲ 1.1% | NA |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.3% |
| Nikkei 225 (Japan) | ▼ 0.9% |
| Hang Seng (Hong Kong) | ▼ 0.7% |
| SSE Composite (China) | ▼ 0.4% |
| Dow Jones (US) (December 28) | ▲ 0.2% |
| NYSE (US) (December 28) | ▼ 0.0% |
| Nasdaq (US) (December 28) | ▼ 0.5% |
| S&P 500 (US) (December 28) | ▼ 0.1% |
Fact of the day
Foreign Portfolio Investors (FPIs) poured a record $10.8 billion (₹80,000 crore) into Indian IPOs in 2021.
Source: Economic Times
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.