SGX Nifty gains, pharma stocks in focus

Nov 23 2012, 11:00 IST
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SummaryForeign investors bought Rs 1.83 bn, while Domestic institutions sold Rs 1.64 billion of stocks.

* Nifty futures on the Singapore Exchange rise 0.21 per cent. The MSCI-Asia Pacific index excluding Japan is also up 0.4 per cent.

* Asian shares ambled higher on Friday and were on course for a weekly gain of more than 2 per cent, their best in two months, after manufacturing surveys from China and the United States raised hopes that the global growth outlook is improving at last.

* Foreign investors bought Rs 1.83 billion, while Domestic institutions sold Rs 1.64 billion of stocks on Thursday when the BSE index rose 0.31 per cent.

* Pharmaceutical shares will be in focus, as India approved a new drug pricing policy designed to increase the number of drugs deemed essential that are subject to price caps, two ministers told reporters.

* India's cabinet approved on Thursday a 9.5 per cent government stake sale in state-run power producer NTPC Ltd, a minister told reporters, to help rein in its ballooning fiscal deficit.

* Investors will watch Hindustan Copper Ltd shares a day after it sets floor price for share sale at Rs 155 a share. Hindustan Copper shares closed at Rs 266.15 on Thursday.

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