New Delhi
Sun Pharma shares fell more than 3 per cent on Friday, after the company’s Dadra facility received an official action indicated inspection classification from US FDA. Sun Pharma said that the US FDA conducted an inspection at the company’s Dadra facility from December 4, 2023 to December 15, 2023. The US FDA has subsequently determined the inspection classification status of this facility as Official Action Indicated (OAI).
We will work with the regulator to achieve fully compliant status. This is for your information and dissemination, Sun Pharma said. BSE Sensex is trading at 74,689 points down by 348 points on Friday. Sun Pharma is down more than 3 per cent. Titan, JSW Steel, HDFC Bank, Asian Paints, Maruti are down more than 1 per cent.
The hotter-than-expected US inflation has spiked the US bond yields. This is negative for FPI inflows but is unlikely to impact the Indian market which is resilient, and the rally is driven mainly by domestic liquidity, says V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Dips are likely to get bought imparting strength to the market. Therefore, investors may use the dips to buy high quality large-caps where the margin of safety is high, he said.
