Glenmark Pharma share price jumped over 6 per cent in early trade on the BSE on Thursday, February 15, a day after the company reported its December quarter earnings.

Glenmark Pharma share price opened at ₹766.65 against the previous close of ₹796.30 and rose 6.4 per cent to the level of ₹847.30. Around 9:20 am, the stock traded 5.22 per cent up at ₹837.90.

The pharma company reported a standalone loss of ₹20.40 crore in Q3FY24, compared to ₹430.53 in the corresponding quarter previous year Q3FY23, the company said in a stock exchange filing. Glenmark’s revenues declined 38.4 per cent YoY to ₹1,304.16 crore, compared to ₹2,118.99 crore in the corresponding quarter last year. Ebitda stood at ₹144.4 crore this quarter against ₹474 crore in the previous corresponding quarter.

The Reserve Bank of India (RBI) has halted businesses from paying each other via credit cards, by ordering card networks Visa and Mastercard to stop all such payments.

Businesses typically pay their vendors by bank transfers or commercial credit cards, sometimes mediated by fintechs. The latter are called Business Payment Service Provider (BPSP) transactions, now suspended by RBI.

While the exact reason for the abrupt move is not known, Arpit Ratan, co-founder and chief business officer of Signzy, a digital banking infrastructure provider, said that RBI’s concern seems to come from the fact that certain recipients of card transactions may not be registered merchants, something that is not allowed by the KYC regime. KYC stands for know your customer. (Read the full story here.)

Across sectors, the PSB index was leading the charts, up more than 1.5%, while Realty, IT and Auto indices were also up over 1% in early trades. 

Across the broader markets, both Smallcap and Midcap indices were up more than 1%.

Bank stocks were under pressure in early trades. 

Mahindra & Mahindra was leading the charts, up more than 4%, on Sensex following a robust showing in Q3FY24 results.

Indian benchmark indices opened in the green on Wednesday, following a rebound in global stocks.

At opening bell, Sensex was up 238.64 points, or 0.33%, at 72,061.47 and Nifty was up 63.05 points, or 0.29%, at 21,903.10.

Indian benchmark indices were in the green at pre-open on Thursday, following a rebound in global stocks.

Sensex was up 238.64 points, or 0.33%, at 72,061.47 and Nifty was up 66.50 points, or 0.3%, at 21,906.55 during pre-open.

Bank Nifty has once again bounced from its 200 day average support and witnessed a quick recovery of 1000 points from the day’s low indicating strength.

We believe the up move could extend near to 46,800 levels as multiple bottoms are being made near the average and 200 day average has moved higher to 44,900 levels.

RSI has crossed its average line accelerating the up move as expected and other indicators are also moving in tandem.

Bank Nifty highest call OI is at 46,500 levels while on the downside put OI will has moved higher to 45,500 levels.

NIFTY-50 has managed to hold its support of 50 day average despite negative global cues and closed near the high point of the day led by broader positive momentum.

We expect a extended up move to 22,100 levels near to the all time high and on the downside 21,450 will be the trend reversal levels.

RSI is piercing upwards crossing its average line and other key technical indicators are poised for an up move.

Highest call OI is at with 22,000 strike while on the downside the highest put OI has moved higher to 21,800 for the weekly expiry.

Domestic benchmark equity indices Nifty 50 and Sensex recovered from the Wednesday’s low and ended in green, supported by buying in banking stocks.

Analysts pointed out that public sector banks (PSB) were drawn to the government’s ongoing emphasis on fiscal prudence and improving asset quality, but questions remained about their high valuations. Favourable inflation data from the UK added to the confidence and helped spark an overall recovery. (Read the full story here.)

Posting a strong recovery from morning lows aided by recovery in bank stocks, the Indian stock market ended higher on Wednesday. The Nifty 50 index finished 96 points higher at the 21,840 level, the BSE Sensex surged 267 points and closed at the 71,822 mark while the Bank Nifty index ended 405 points up at the 45,908 level.

In the broader market, both small-cap and mid-cap indices outperformed Nifty even as the advance-decline ratio recovered sharply to 1.95:1. Oil & Gas, and Metal stocks also witnessed heightened activity in the previous session. (Read the full story here.)

Following recovery from morning lows aided by recovery in bank stocks, the Indian stock market ended higher on Wednesday. The Nifty 50 index finished 96 points higher at the 21,840 level, the BSE Sensex surged 267 points and closed at the 71,822 mark while the Bank Nifty index ended 405 points up at the 45,908 level. In the broad market, both small-cap and mid-cap indices outperformed Nifty even as the advance-decline ratio recovered sharply to 1.95:1. Oil & Gas, and Metal stocks also witnessed heightened activity in the previous session. (Read the full story here.)

The Indian stock market indexes, Sensex and Nifty 50, are expected to extend gains on Thursday tracking positive global market cues.

The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 21,989 level as compared to the Nifty futures’ previous close of 21,925.

On Wednesday, the domestic equity benchmark indices ended on a positive note in a highly volatile market with the Nifty 50 closing above 21,800 level. (Read the full story here.)

The domestic equity market indices, Sensex and Nifty 50, are expected to extend gains on Thursday following the positive trend in the global markets.

Asian markets traded higher while the US stocks rallied overnight after strong quarterly earnings reports and easing Treasury yields.

Investors also assessed gross domestic product (GDP) data from Japan and Singapore that missed expectations. (Read the full story here.)

Gift Nifty was down 10.5 points, or 0.05%, at 21,982.50.

On Wednesday, Indian benchmark indices had pared their losses to close higher at the end of the trading session.

At close, Sensex was up 267.64 points, or 0.37%, at 71,822.83 and Nifty was up 96.80 points, or 0.45%, at 21,840.05.

Across sectors, PSBs, and Oil & Gas rallied more than 3%, while IT, Healthcare and Pharma closed in the red.

Meanwhile, the broader market ended in the green, having pared its losses through the day.

The Dow Jones Industrial Average rose 151.52 points, or 0.40%, to 38,424.27, the S&P 500 gained 47.45 points, or 0.96%, to 5,000.62 and the Nasdaq Composite gained 203.55 points, or 1.30%, to 15,859.15.

The yield on the 10-year Treasury note fell 5 basis points to 4.267% after touching 4.332% earlier in the session, its highest since Dec. 1.

In cryptocurrencies, bitcoin gained 4.16% at $51,626.95.

Oil futures declined as higher U.S. crude inventories weighed on prices. U.S. crude lost $1.23 to settle at $76.64 a barrel and Brent fell $1.17 to settle at $81.60.

Spot gold was steady at $1,991.92 per ounce.