Stock Market

Sensex, Nifty extend losses; Tata Group stocks most active


Chillicious Bureau

12:20 pm Drug launch:

Sun Pharma today said it has launched generic versions of Daiichi Sankyo medicines, used in treatment of high blood pressure, in the US market.

In a BSE filing, Sun Pharmaceutical Industries said “its wholly owned subsidiary has launched in US, the authorized generic versions for all strengths of Benicar, Benicar HCT, Azor and Tribenzor of Daiichi Sankyo Inc”.

Four medicines include Olmesartan Medoxomil, Olmesartan Medoxomil-Hydrochlorothiazide, Amlodipine Besylate-Olmesartan Medoxomil and Amlodipine Besylate-Hydrochlorothiazide -Olmesartan Medoxomil tablets.

“The launch is pursuant to a distribution and supply agreement between Sun Pharma’s wholly owned subsidiary and Daiichi Sankyo Inc, which grants the Sun Pharma subsidiary, exclusive rights to distribute these tablets in the US for a pre-determined period,” it added.

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12:00 pm Market Check: Equity benchmarks as well as broader markets extended losses in noon trade with the Sensex down 144.34 points at 27692.17 and the Nifty down 57.25 points at 8558, dragged by banks, infra and oil stocks.

The BSE Midcap and Smallcap indices were down more than 1 percent on weak breadth. About 1638 shares declined against 775 advancing shares on the exchange.

Tata Group stocks continued to reel under pressure and remained in the most active list due to ongoing Tata-Mistry issue. Tata Motors, Tata Steel and TCS fell 1-2 percent, continuing to fall for the third consecutive session.

Markets in Asia Pacific were mostly lower, with energy plays in the region under pressure after oil prices extended their losing streak during the US session. Hong Kong’s Hang Seng index slipped 1.07 percent. Chinese mainland shares traded lower, with the Shanghai composite down 0.17 percent. Japan’s Nikkei 225 average was down 0.3 percent.