Indian shares dip, rupee slips to record low on elevated oil prices
Indian shares fell, and the rupee hit an all-time low on Tuesday, as high crude oil prices linked to the Middle East conflict weighed on risk sentiment. The Nifty 50 declined 0.36% to 24,032.80 and the BSE Sensex shed 0.33% to 77,017.79. The rupee slid to 95.4325 per U.S. dollar. Brent crude surged to an intraday high of $115.3 a barrel on Monday after Iran stepped up attacks on the UAE and ships in the Gulf, including several in the Strait of Hormuz. While oil prices eased to about $113 on Tuesday on signs the U.S. Navy is loosening Iran’s grip over the strait, they remain elevated, underscoring persistent macroeconomic risks. Higher crude prices are a negative for the world’s third-largest importer of the commodity, as they add to inflationary pressures and drag economic growth and corporate earnings. “Fresh U.S.-Iran hostilities rattled sentiment, implying that the crude-led market gyrations will persist until clearer signs of a resolution to the conflict emerge,” said Anita Gandhi, head of institutional business at Arihant Capital Markets. “While higher crude prices and a weakening rupee are fuelling record foreign outflows, the absence of any major negative surprises this earnings season is helping cushion the market against sharper losses,” Gandhi said.
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Top Gainers & Losers on May 5: Wockhardt, Tata Tech, Gabriel India, Dabur, Adani Green Energy among top gainers
Indian markets showed volatility on May 5 amid escalating US-Iran tensions. The Nifty 50 ended up 0.36%, while the Sensex declined 0.33%. Notable gainers included CreditAccess Grameen and Wockhardt, though profit-taking led to losses in several other stocks.
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'Made in India - The story of Desh Bandhu Gupta, Lupin and Indian Pharma' Book Launched in Mumbai
MUMBAI, India , Feb. 9, 2026 /PRNewswire/ -- Made in India , written by Sundeep Khanna and Manish Sabharwal, traces three remarkable journeys: the rise of India's pharma industry, the birth and evolution of Lupin (BSE: 500257) (NSE: LUPIN) (REUTERS: LUPIN.BO) (BLOOMBERG: LPCIN) and the extraordinary life of its founder, Desh Bandhu Gupta. Together, the three journeys illuminate how a country once completely dependent on imported medicines became the world's pharmacy. The book shares how an individual's life, shaped early by adversity, growing up without privilege or patronage, unpredictably nurtured hunger and drive, to navigate an unforgiving state, blend national health priorities and global standards, to build a multibillion-dollar enterprise whose medicines reach patients in over 120 countries. (L to R) - Dilip Shanghvi, Sun Pharma; Dr. Yusuf Hamied, Cipla; G.V. Prasad, Dr. Reddy’s; Prof. M. M. Sharma, Ex-(UDCT) ICT; Vinita Gupta, Lupin; Moderator, Manish Sabharwal. Made in India shows the distance travelled by a village boy from Rajasthan, who went on to become a teacher, professor and pharmaceutical employee, before founding a company worth $10 billion.
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Wockhardt files marketing application in Europe for its novel antibiotic WCK 5222
WCK 5222 is the first New Chemical Entity (NCE) discovered and developed in India to be submitted for pan-European marketing authorisation, Wockhardt says
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Wockhardt shares jump over 4%, extend two-day rally following FDA nod for Zaynich
Wockhardt Ltd shares jumped over 4% to ₹1,533, extending a two-day rally after surging nearly 20% on Tuesday. The rise follows the US FDA’s acceptance of its New Drug Application for Zaynich, a first-in-class antibiotic, marking the first NDA approval for a New Chemical Entity by an Indian pharma company.
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Wockhardt Pharma Shares: SEBI Analyst Says Dip Could Be A Buying Chance As Long As ₹1,400 Holds
The analyst pointed to strong support around ₹1,400 and the 200-day EMA, while highlighting the company’s exit from U.S. generics and a credit rating upgrade as factors boosting confidence ahead of Q2 results in November.