Dr Reddy’s Laboratories has sought permission from India’s drug regulator to conduct a phase-3 clinical trial to evaluate the efficacy and safety of Sputnik Light vaccine as a booster dose against covid-19 in India
Indian stock markets are likely to be volatile on Friday, with SGX Nifty futures suggesting a weak start for domestic benchmark indices. On Tuesday, the BSE Sensex ended at 58,807.13, up 157.45 points or 0.27% and the Nifty ended at 17,516.85, up 47.10 points or 0.27%.
Asian stocks followed their U.S. peers lower as traders weighed the economic threat of virus restrictions against optimism about the efficacy of vaccines. Treasuries gained.
Equity markets saw modest losses across the region. US futures steadied after benchmarks ended a three-day rally on Thursday amid losses in the consumer discretionary and real estate sectors. Treasuries inched higher, having pared back an overnight rally after a lackluster sale of 30-year bonds. Oil fell toward $70 per barrel and Bitcoin pared losses. The dollar held overnight gains.
Investors are mulling the cost to contain the omicron strain amid mounting concern it will crimp the economic rebound. A study has found omicron is 4.2 times more transmissible than the delta variant in its early stages.
Back home, Paytm Payments Bank, subsidiary of One97 Communications, has received the Reserve Bank of India's (RBI) approval to function as a scheduled payments bank, it said on Thursday. As a scheduled payments bank, Paytm Payments can participate in government and companies' request for proposals, primary auctions, fixed-rate and variable rate repos, and reverse repos, along with participation in Marginal Standing Facility.
Dr Reddy’s Laboratories has sought permission from India’s drug regulator to conduct a phase-3 clinical trial to evaluate the efficacy and safety of Sputnik Light vaccine as a booster dose against covid-19 in India, PTI reported quoting sources.
Star Health and Allied Insurance Company will make its stock markets debut on Friday. The Rakesh Jhunjhunwala-backed company had cut its offer for sale (OFS) size to ?4,400 crore from Rs5,249.18 crore after its initial public offering got a weak response.The total IPO size was reduced to ?6,400 crore instead of ?7,249 crore with a price band of ?870- ?900.
Meanwhile, the global equity rally faces further potential road bumps ahead from US consumer inflation numbers on Friday and a Federal Reserve meeting next week that may provide clues on the pace of tapering and interest rate increases.
Elsewhere, the dollar was flat. It rose Thursday after a report showed applications for U.S. state unemployment benefits declined to the lowest level since 1969. However, economists flagged difficulties in seasonal adjustments to arrive at that figure.
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