Indian shares flat, Ranbaxy rises
At 10:40 am (0510 GMT), the benchmark BSE index was barely changed at 11,711.86 points.india Updated: Aug 30, 2006 13:29 IST
Indian shares were little changed on Wednesday, with no clear direction from Asian markets, but generic drug maker Ranbaxy's shares rose after it won a patent ruling for a cholesterol drug patent.
Shares in Ranbaxy Laboratories Ltd rose 2 per cent to Rs 403, after a Norwegian court ruled on Tuesday, it had not infringed upon Pfizer Inc's patents on Lipitor, the world's top-selling medicine.
At 10:40 am (0510 GMT), the benchmark BSE index was barely changed at 11,711.86 points. In the broader section, gainers beat losers 880 to 869 on modest volume of 32 million shares. The 50-share Nifty was 0.2 per cent up at 3,432.50.
"The market is in a consolidation mode," a dealer said. "The only solace is the futures expiry so far looks quite smooth."
Monthly derivatives contracts expire on the last Thursday of every month. The National Stock Exchange had a turnover of 258.9 billion rupees in the futures and options contracts up to Tuesday for August.