Biocon share price: Shares of Biocon Ltd rose 3% after Biocon Pharma received FDA approvals for cancer drugs Lenalidomide and Dasatinib, enhancing its US oncology market presence. The company also got tentative approval for Rivaroxaban. Despite recent stock declines, analysts suggest a potential 22% upside. Biocon's Q3 profits dropped sharply due to a previous one-time gain.
Even though FIIs have pulled out a record amount in Rs 2.1 trillion since October 2024, DIIs have stepped in with even higher investments (Rs 3.2 trillion), keeping the market from falling sharply.
In the Nifty500 pack, seven stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on March 4, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
President Trump's address to Congress will highlight a $1-billion plan to tackle the high cost of eggs due to a bird flu crisis. The plan includes direct farmer relief, biosecurity enhancements, and increased egg imports to stabilize prices. Egg prices have surged, causing financial strain on households.
Swaminathan Aiyar believes India's economy will not be directly affected by U.S. tariffs targeting countries like China and Russia. However, global trade uncertainties could still impact India due to slower world GDP growth and reduced trade volumes.
Equities opened lower in Sydney and mixed in Tokyo after mayhem on Tuesday that saw a global index approach levels from the start of this year. Contracts for the S&P 500 rose 0.8% after the index dropped 1.2% on Tuesday echoing gains in late trading after Lutnick hinted at a compromise with Canada and Mexico.
The Mumbai Interbank Forward Offer Rate (MIFOR), which gauges currency risk when Indian companies bring dollar funds into India, has fallen over the past month after the RBI bought dollars from banks with an agreement to sell them back three years later, indicating the central bank is ready to lend dollars at a cheaper rate to the market.
Last year on April 5, Sebi issued a show cause notice to Dahiya alleging failure to identity acquisition of 26.72% shares of YKNP Marketing Management by PB Fintech through its subsidiary PB Fintech FZ-LLC as unpublished price sensitive information as per insider trading rules.
Raichura said any bounces in the near term may create more selling pressure and a decisive recovery will occur only in large-caps first, and then in mid- and small-caps. "And until we see a strong recovery, investors may not entirely return to the stock market," he said.
