Business
Markets End 4-Day Losing Streak, Sensex Closes At Points 85,265; Rupee Gains
Mumbai: Snapping a four-day losing streak, Indian stock markets ended higher on Thursday, helped by buying in IT shares as the rupee traded positive with gains against the US dollar.
Gains, however, stayed modest as investors turned cautious ahead of the RBI Monetary Policy Committee’s decision scheduled for Friday.
The Sensex closed at 85,265.32, rising 158.5 points or 0.19 per cent. The Nifty also moved up, finishing at 26,033, higher by 47.75 points or 0.18 per cent.
“The index mostly remained below the 21 EMA on the hourly chart, reflecting sustained selling pressure during the session,” analysts said.
“Technically, the 26,100–26,150 zone is expected to act as crucial resistance, while support is placed at 25,900–25,950,” they added.
“A fall below 26,000 may trigger a quick correction towards 25,950–25,900, as the chart setup appears weak on the hourly timeframe,” market watchers stated.
Broader market performance remained weak. The Nifty MidCap 100 index ended almost flat with a slight negative bias, while the Nifty SmallCap 100 slipped 0.24 per cent.
Among sectoral indices, Nifty IT was the biggest mover, jumping 1.4 per cent. Realty, FMCG, Auto, Pharma, Metal, and Chemical indices also saw buying interest.
On the other hand, Nifty Media dropped 1.45 per cent, and Bank, Financial Services, Consumer Durables, and Oil & Gas sectors also declined.
On the Sensex, the top gainers included TCS, Bharat Electronics, Tech Mahindra, Infosys, and HCL Tech.
Major laggards were Reliance Industries, Maruti Suzuki, Kotak Mahindra Bank, Titan, and Eternal.
Analysts said that the market managed a positive finish but stayed cautious as investors awaited key policy cues from the RBI.
“IT stocks outperformed, buoyed by renewed optimism around potential Fed rate cuts and favourable currency tailwinds, which strengthened investor appetite for the sector,” experts added.
Rupee traded positive with gains of 0.28 paise at 89.91 as markets await the RBI policy on Friday, especially after the currency hit all-time lows this week.
“Rupee range is seen between 89.80–90.25, with a breakout potentially taking it toward 89.25 on the upside or 90.75 on further weakness,” analysts said.
Business
FDA vaccine head will step down in April after string of controversial decisions
The logo for the Food and Drug Administration is seen ahead of a news conference at the Health and Human Services Headquarters in Washington, April 22, 2025.
Nathan Posner | Anadolu | Getty Images
A key U.S. Food and Drug Administration official who oversees vaccines and biotech treatments will step down from the agency following multiple decisions that raised concerns within the industry.
Vinay Prasad, director of the Center for Biologics Evaluation and Research, will leave the FDA at the end of April, an agency spokesperson confirmed on Friday. It is his second departure from the position: He briefly left the post in July following backlash over his regulatory decisions, and returned only two weeks later in August.
In a post on X, FDA Commissioner Marty Makary said the FDA will appoint a successor before Prasad returns next month to the University of California San Francisco, where he taught before taking the FDA position last year. Makary said Prasad “got a tremendous amount accomplished” during his tenure at the agency.
Prasad’s decision to step down comes after criticism of the FDA mounted within the biotech and pharmaceutical industry and among former health officials. In the past year, the agency has denied or discouraged the approval applications of at least eight drugs, according to RTW Investments, after taking issue with data the companies used to support their applications. The FDA also initially refused to review Moderna’s flu shot before it later reversed course.
All of those companies accused the FDA of reversing previous guidance about the evidence they could use to back their applications, sparking criticism within the industry that an unreliable regulatory process could stifle development of drugs for hard-to-treat diseases.
A former FDA official who spoke to CNBC on the condition of anonymity to speak freely on the issue called the reversals the worst kind of regulatory uncertainty because companies say they are being told one thing and then experience another.
In a statement earlier Friday, an FDA spokesperson said there was “no regulatory uncertainty,” adding the agency “makes decisions based on the evidence, but does not make assurances about outcomes.” The spokesperson said the FDA is “conducting rigorous, independent reviews and not rubber-stamping approvals.”
The most recent controversy came after the FDA discouraged UniQure from applying for expedited approval of its experimental treatment for Huntington’s disease.
The agency, which underwent staff cuts and an overhaul under Health and Human Services Secretary Robert F. Kennedy Jr., has faced broader backlash for its drug and vaccine approvals process. Critics have worried the agency could stifle the development of new treatments and risk the safety of patients.
The Wall Street Journal earlier reported Prasad’s departure.
Business
Oil price at two-year high after Qatar minister warns all Gulf production could stop
Energy Minister Saad al-Kaabi says oil could hit $150 a barrel if the Iran conflict continues over the coming weeks.
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Business
Govt increases petrol, diesel prices by Rs55 per litre amid Middle East tensions – SUCH TV
The federal government has raised petrol prices by Rs55 per litre as surging global oil prices, fuelled by the US‑Israel war with Iran, put pressure on domestic energy costs.
The announcement was made by Petroleum Minister Ali Pervaiz Malik in a press conference alongside DPM Ishar Dar and Finance Minister Muhammad Aurangzeb.
This marks the first weekly review of fuel prices since regional tensions threatened a major share of global energy flows following the closure of the Strait of Hormuz.
Previously, the federal government adjusted petroleum prices on a fortnightly basis.
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