Indian share markets witnessed selling pressure throughout the day and ended the day lower. Barring IT stocks, all sectoral indices traded in red, with stocks in the finance sector and healthcare sector leading the losses.

At the closing bell, the BSE Sensex stood lower by 369 points (down 1%) and the NSE Nifty closed down by 119 points (down 1.1%). The BSE Mid Cap index ended the day down 1.9%, while the BSE Small Cap index ended the day down by 2%.

The rupee was trading at Rs 71.12 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was up by 0.1% and the Shanghai Composite was down by 0.2%. The Nikkei 225 was down by 0.7%.

In the news from macroeconomic space, as per a leading financial daily, India has appeared in the list of the world's most innovative nations in 2019.

The annual Bloomberg Innovation Index analyzes dozens of criteria using seven metrics, including research and development spending, manufacturing capability, concentration of high-tech public companies, patent activity, among others.

It is interesting to note that the ranking process in 2019 began with more than 200 economies. Each economy was scored on a 0-100 scale based on seven equally weighted categories. Nations that didn't report data for at least six categories were eliminated, trimming the total list to 95.

The final list published by Bloomberg consisted the top 60 economies.

Also, speaking of macroeconomic data, note that India is said to be in the pecking order of strongest economies in another decade.

India in the Pecking Order of Strongest Economies in Another Decade

Here's what Tanushree Banerjee wrote about it in one of the recent editions of The 5 Minute WrapUp...

• ...I came across some latest data projecting the nominal GDP of countries by the year 2030.
  
  The article focused on how China would be by far the strongest economy in another decade. In fact, its GDP could be more than double of America's.
  
  But that India will be a close second.
  
  With GDP crossing 40 trillion dollars, the Indian economy will be at least a third bigger than the US.
  
  No doubt the 40 trillion dollar GDP will not come without some hiccups.
  
  But once you know the stocks that could gain the most in the coming decade, you too be saying - 'Buy Indian. I am'.

The above data validates Tanushree's optimism about India's future.

And as we wrote in today's edition of The 5 Minute WrapUp... 'Anyone who still thinks India is a poor country of elephants and snake charmers needs to seriously rethink.'

In the news from the aviation space, Jet Airways share price was in focus today after the company said that it was seeking shareholder approval for converting existing debt into shares.

Reportedly, the debt-laden company will seek consent of the shareholders to convert the whole or part of the outstanding under loans into shares or convertible instruments or other securities of the company.

Apart from this, the company will also seek nod from its lenders to appoint a nominee director to the board.

Last week, Jet Airways had reported the Passenger Load Factor of 87.0% during the month of December 2018 against the PLF of 82.1% during the month of November 2018.

As per an article in a leading financial daily, Naresh Goyal, promoter of the debt-laden carrier Jet Airways, has agreed to step down from the restructured airline's board if Etihad Airways pays the 'right price' for increasing its stake in the airline.

According to the newspaper report, Etihad's offer price of Rs 150 per share is not in accordance with the markets regulator takeover guidelines.

The markets regulator has laid out norms for a takeover, which state that the open offer price must be the highest of the prices decided by four parameters.

The negotiated price between the buyer and the promoter, the average price of shares in the year before the takeover was announced, the highest price that the buyer paid in the 26 weeks before the takeover announcement and the average price of the 60 trading days before the takeover is announced.

Jet's woes have worsened with higher oil prices and intense competition in 2018.

This would be the second time that the West Asian airline has come to the debt-laden carrier's rescue.

Moving on to the news from the pharma sector, Natco Pharma share price witnessed selling pressure today.

The company announced that it had launched Valsartan-Sacubitril tablet at under its brand VALSAC.

Valsartan-Sacubitril is a combination drug used for certain types of heart failure and works by relaxing blood vessels, making it easier for the heart to pump blood to the body.

The company launched VALSAC in 50mg & 100mg at an MRP of Rs 45 and Rs 55 per tablet.

In another news, Lupin received six observations from USFDA for its Unit 2 plant in Pithampur, Indore.

The inspection was conducted between 14 and 25 January.

At the end of the inspection, the USFDA issues its observations on any deviations from current good manufacturing practices (cGMP) on Form 483. Companies will have to respond with a corrective and preventive action plan to these observations with 15 days of the receipt of Form 483.

Lupin share price ended the day up by 0.1%.

To know more about the company, you can access to Lupin's Q2FY19 result analysis and Lupin's 2017-18 Annual Report Analysis on our website.