Sensex Ends 120 Points Lower; Oil & Gas And Capital Goods Stocks Witness Selling

Indian share markets witnessed most of the selling pressure during closing hours and ended their trading session marginally lower. Barring IT sector and realty sector, all sectoral indices ended on a negative note with oil & gas stockscapital goods stocks, and energy stocks losing the most.

At the closing bell, the BSE Sensex stood lower by 120 points (down 0.3%) and the NSE Nifty closed down by 38 points (down 0.4%). The BSE Mid Cap index ended the day down 0.5% and the BSE Small Cap index ended the day down by 0.4%.

The rupee was trading at 70.75 against the US$.

Asian stock markets finished on a posiitive note. As of the most recent closing prices, the Hang Seng was up 1.2% and the Shanghai Composite was up by 1.9%. The Nikkei 225 was up 1.4%.

In the latest developments from the results corner, Sun Pharma share price was in focus today after the company reported its net profit at Rs 12.4 billion in the third quarter ended December 2018.

The company posted a net profit of Rs 3.2 billion during the previous year's period.

Revenues from operations gained 17% to Rs 79.3 billion as compared to last year's Rs 67.8 billion.

The EBITDA margin of the company stood at 27.8%. The US sales grew by 8% on a quarter-on-quarter (QoQ) basis to US$ 370 million, led by market-share gains in generic products.

Sales in the US were $362 million for the quarter, a growth of 10% over the same period last year and accounted for 34% of total sales.

Reportedly, the numbers were higher from the estimates by a wide margin helped by a strong recovery of US generics business.

Sun Pharma in the US has 441 Abbreviated New Drug Applications (ANDAs) approved, while filings for 564 ANDAs await USFDA nod, including 15 tentative approvals. For the quarter, 5 ANDAs were filed and 10 approvals were received.

Sun Pharma share price ended the day down by 2%.

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