Stock markets in India are trading range-bound in the afternoon session. Among the sectoral indices, realty and power stocks are witnessing maximum selling pressure. While, IT stocks and consumer durables stocks are trading in green.

The BSE Sensex is trading lower by 57 points (down 0.2%), and the NSE Nifty is trading lower by 10 points (down 0.1%). Meanwhile, the BSE Mid Cap index and the BSE Small Cap index are trading down by 0.1% & 0.4% respectively. The rupee is trading at 72.91 to the US$.

In the news from the pharma sector, Zydus Cadila has received the final approval from the United States Food and Drug Administration (USFDA) to market Nystatin and Triamcinolone Acetonide Ointment.

Reportedly, it will be manufactured at the group's Topical manufacturing facility at Ahmedabad.

The drug is used to treat fungal skin infections. This product contains nystatin, an anti-fungal drug that works by stopping the growth of fungus. It also contains triamcinolone, an anti-inflammatory corticosteroid that works by reducing swelling, itching, and redness.

The group now has 226 approvals and has so far filed over 330 ANDAs since the commencement of the filing process in FY 2003-04.

Meanwhile, Lupin has received the Establishment Inspection report (EIR) post the completion of a Pre-Approval Inspection (PAI) for its Phenytoin Sodium Extended Release 100 mg capsules, carried out by The USFDA at its Nagpur facility in Maharashtra.

The inspection conducted in September 2018 concluded without any observations.

Note that, Lupin's Nagpur facility is the company's latest site and manufactures Oral Solid Dosage products.

To know more about both the companies above, you can access to Cadila Healthcare's latest result analysis, Cadila Healthcare's stock analysis and Lupin's Q1FY19 result analysis, Lupin's 2017-18 Annual Report Analysis on our website.

At the time of writing, Cadila Healthcare share price was trading down by 0.2% while, Lupin share price was trading up by 1.4%.

In the news from currency markets, Indian rupee opened weaker by 18 paise against the US dollar on Monday as the greenback rose towards a 16-month high amidst expectations of policy tightening by the Federal Reserve.

In the morning trade today, the rupee was trading at 72.78 a dollar, down 28 paise from its Friday's close of 72.50. The home currency opened at 72.68 and touched a high and a low of 73.68 and 73.78 a dollar, respectively.

The rupee rose by 50 paise to end at 72.50 per US dollar Friday on increased selling of the greenback by exporters amid softening crude oil prices.

But weak global cues weighed on the home currency in today's session. The dollar index gained 0.12% today, sitting a little below its 16-month high of 97.2 hit on 31 October.

In the FOMC policy statement, the Fed chairman hinted that one more rate hike in December is on cards and the overall commentary was hawkish.

Adding to the concerns was surging oil prices, which rose by about 1% after top exporter Saudi Arabia announced a cut in supply for December.

Note that, the rupee is the worst performer in Asia in 2018. It has fallen by around 12% against the US dollar this year.

Indian Rupee is the Worst Performing Currency in Asia

This selling pressure is seen on the back of a strong dollar and high oil prices. Similarly, the spill-over from the emerging-market turmoil in Argentina and Turkey is weighing on the rupee.

The falling rupee is also triggering sales of bonds and stocks, which in turn is further pressuring the rupee.

However, in the near term, the rupee being under pressure could benefit export-oriented businesses.

The recent Smart Money Secrets recommendation will benefit from the rupee depreciation.

The company derives around 65% of the revenue from exports. The icing on the cake is the company's focused entry into the B2C segment, which provides it a long runway for future growth.

If you're a Smart Money Secrets subscriber, read the detailed report here.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.