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After opening the day on a negative note, Indian share markets extended losses as the session progressed and ended the day on a weak note.

Benchmark indices closed in the red for the third consecutive session on Thursday amid weak global cues as sharp gains in the US bonds yields and dollar weighed on stock market sentiment.

At the closing bell, the BSE Sensex stood lower by 542 points (down 0.8%).

Meanwhile, the NSE Nifty closed down by 144 points (down 0.7%).

Infosys and Eicher Motors were among the top gainers today.

ONGC and ICICI Bank were among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

The Gift Nifty was trading at 19,458, down by 42 points, at the time of writing.

Broader markets ended on a positive note. The BSE Midcap index ended marginally higher, and the BSE SmallCap index rose 0.2%.

Sectoral indices ended on a mixed note with stocks in the healthcare sector and power sector witnessing most of the buying.

On the other hand, stocks from the metal sector and realty sector witnessed selling pressure.

Shares of MRF and Abbott India hit their 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Asian share markets ended on a negative note. The Hang Seng fell 0.5% while the Shanghai Composite rose 0.6% and Nikkei ended 1.7% lower.

The rupee is trading at 82.73 against the US$.

Gold prices for the latest contract on MCX are trading marginally lower at Rs 59,420 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading lower by 0.7% at Rs 72,455 per kg.
 

Sun Pharma Q1 results

In news from the pharma sector, Sun Pharmaceutical on August 3 reported a 1.9% year-on-year (YoY) fall in consolidated net profit at Rs 20.2 bn in the first quarter of the current financial year.

It reported a consolidated net profit of Rs 20.6 bn for the same quarter last year.

The Mumbai-based drugmaker also reported an 11% increase in consolidated revenue at Rs 119.4 bn from Rs 107.6 bn in the year-ago period. The Street had pegged revenue at Rs 116.1 bn.

The company reported EBITDA of Rs 33.3 bn for the quarter as against Rs 28.8 bn in the corresponding quarter last fiscal. The EBITDA margin for the quarter is 27.9%, up 2.3% from the same period a year ago.

The company has reported R&D investments at Rs. 6.8 bn compared to Rs. 4.6 bn for the same quarter last year.

Sun Pharma 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 multibagger 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 Zydus Lifesciences' share price is rising

Moving on, Zydus Lifesciences' share price rose nearly 3% to Rs 644.90 in the morning trade today after the company received the United States Food and Drug Administration (USFDA) nod for its arthritis drug.

Zydus Lifesciences has received final approval from the USFDA to manufacture and market Indomethacin suppositories 50mg.

Indomethacin is the generic version of the reference-listed drug (RLD) Indocin suppositories. The FDA granted a CGT designation and also 180-day Competitive Generic Therapy (CGT) exclusivity to market the drug.

Indomethacin suppositories are a non-steroidal, anti-inflammatory drug indicated for moderate to severe rheumatoid arthritis including acute flares of chronic disease.

The company's board will meet on 11 August 2023 to consider, apart from other agenda items, approval of unaudited financial results for the June 2023 quarter.

The healthcare and pharma megatrend is unstoppable in India. 
 

Dabur Q1 results

Moving on to news from the FMCG sector, Dabur India on 3 August 2023, reported a consolidated net profit of Rs 4.6 bn for the first quarter of FY24, registering a growth of 3.52% from Rs 4.4 bn in the year-ago quarter.

The company's profit was 55.9% higher from Rs 2.9 bn in the previous quarter. Revenue came in at Rs 31.3 bn, up 10.9% from Rs 28.2 bn in the year-ago quarter.

Earnings before interest, tax, depreciation, and amortization (EBITDA) were at Rs 6 bn, growing by 11.2%. The EBITDA margin was at 19.3%, similar to the year-ago period.

Dabur's International Business reported a 20.6% growth in constant currency terms.

Riding on the growing demand for the company's flagship cough & cold brand Honitus, Dabur's OTC business reported a 24.3% growth during the quarter.

The Digestive business was up 14.3% while the Home Care business posted a 14.5% jump. The Oral Care portfolio grew by 12.7% while the Hair Care portfolio posted a near 10 percent growth during the quarter.

The company, with its continuous expansion, is among the top 5 FMCG companies in India.

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