After opening the day marginally higher, Indian share markets gave up all the gains during closing hours and ended flat.

Indian indices had a volatile Wednesday as they remained rangebound for most of the day and ended with minor losses.

Traders waited for domestic and US consumer price data later in the week to offer cues on central banks' interest rate-hike plans.

At the closing bell, the BSE Sensex stood lower by 10 points.

Meanwhile, the NSE Nifty closed lower by 18 points (down 0.1%).

Hindalco, Sun Pharma, and BPCL were among the top gainers today.

Bharti Airtel, Cipla, and Divis Laboratories on the other hand were among the top losers today.

The SGX Nifty was trading at 17,946, down by 40 points, at the time of writing.

Broader markets settled on a mixed note. The BSE Midcap inched 0.3% lower while the BSE SmallCap index ended flat.

Sectoral indices ended on a mixed note with stocks in the banking sector, metal sector, and IT sector witnessing heavy buying.

While stocks in the healthcare sector, FMCG sector, and power sector witnessed selling.

Shares of Jindal Steel and Power, and Schneider Electric Infra hit their 52-week highs today.

Asian share markets ended the day on a mixed note.

The Hang Seng inched up by 0.5%, while the Shanghai Composite index ended 0.2% lower. The Nikkei edged 1% higher.

US stock futures are trading on a negative note. Dow futures are trading higher by 0.2% while Nasdaq futures are trading up by 0.3%.

The rupee is trading at 81.56 against the US$.

Gold prices for the latest contract on MCX are trading higher by 0.3% at Rs 55,900 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading up by 0.9% at Rs 68,959 per kg.
 

Sun Pharma launches anti-cancer drug in India

In news from the pharma sector, shares of Sun Pharma rallied 1.8% today.

Sun Pharmaceutical Industries Ltd. on Wednesday announced that one of its wholly owned subsidiaries launched a novel anti-cancer drug, Palbociclib, in India.

This medication is for patients with advanced breast cancer.

The pharma major will make the drug available under the brand name, Palenotm (Palbociclib) 75 mg, 100 mg, and 125 mg.

Sun Pharma is introducing Palbociclib at an affordable price, which will help improve patient access.

Palenotm will address the treatment needs of several advanced breast cancer patients in India.

Sun Pharma is further introducing a unique patient assistance program to improve patient compliance and accessibility.

Palbociclib is approved by the USFDA, EMA, and CDSCO for use in combination with hormonal therapies for patients with hormone receptor-positive.

Though hormone receptor-positive breast cancer patients have shown better survival than other subtypes, they may progress to or present with metastatic disease.

It is one of the leading players in the chronic therapies segment in India. In the past five years, the stock has gained 84.7% and is a strong candidate among the 4 pharma stocks to watch out for potential multi-bagger return.

Increasing demand for chronic conditions and ailments will be the growth driver for Sun Pharma in the future.

If you want to bank on a specialty pharma story, Sun Pharma is your best bet.
 

Why Greaves Cotton Share price is rising

Further, in news from the engineering sector, shares of Greaves Cotton jumped 7% today.

The shares headed higher after the company unveiled a range of two-wheeler and three-wheeler electric vehicles (EV).

Company on 11 January 2023, unveiled its range of electric two-wheelers and three-wheelers at the ongoing Auto Expo 2023.

The company unveiled three two-wheelers under the Ampere brand.

In the commercial three-wheeler segment, the company unveiled an electric passenger vehicle Greaves ELP, Greaves ELC, and a futuristic cargo concept Greaves Aero Vision.

The company is further committed to investing Rs 15 bn in the deployment of an indigenous electric vehicle ecosystem in the country since its entry into the e-mobility business.

Note that the electric vehicle (EV) megatrend is a once-in-a-century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

Take a look at the chart below, which shows the massive opportunity in the two-wheeler EVs.

It remains to be seen how the above developments pan out.
 

Rail Vikas Nigam bags Chennai metro rail project

Moving on to news from the engineering sector, shares of Rail Vikas Nigam rallied over 2.7% today.

This share rally in the afternoon session was after the firm bagged an Rs 11.3 billion (bn) Chennai Metro Rail project.

Rail Vikas Nigam Limited (RVNL) received a letter of approval on 10 January 2023 for the construction of an elevated viaduct (approximate length of 10 kilometers), nine elevated metro stations, and a stabling viaduct.

As per the contract, the construction work includes nine elevated metro stations at Sholinganallur Lake-I, Sri Ponniamman Temple, Satyabhama University, Semmeancheri-II, Gandhi Nagar, and the stabling of a viaduct at Siruseri SIPCOT-2.

Rail Vikas Nigam is engaged in implementing rail infrastructure projects assigned by the ministry of railways, including doubling, gauge conversion, new lines, electrification, and much more.

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