Asian shares were steady while the Japanese yen held onto overnight gains in the early trade today as financial markets turned their attention to the looming US payrolls data for fresh catalysts. Shares in Hong Kong are lower today as the Hang Seng falls 0.4%. While Shanghai Composite is trading down by 0.2%. Overnight US stocks closed slightly lower.

Back home, India share markets opened the day on a negative note. The BSE Sensex is trading down by 62 points while the NSE Nifty is trading down by 17 points. The BSE Mid Cap index and BSE Small Cap index both opened the day on a flat note.

Sectoral indices have opened the day on a mixed note with realty stocks and consumer durables stocks witnessing maximum buying interest. While information technology stocks and metal stocks have opened the day in the red. The rupee is trading at 66.61 to the US$.

In the news from the pharma sector. As per an article in a leading financial daily, Glenmark Pharmaceuticals Ltd is under regulatory scrutiny for alleged misconduct in carrying out clinical trials recently in Jaipur.

The Central Drugs Standard Control Organisation (CDSCO) has allegedly found that fake identities were used in clinical trials, as well as evidence of substantial departures from good clinical practice (GCP).

This could be the latest blow to India’s drug-testing industry, which has run into a series of problems with international regulators in recent years.

The regulatory body has sought an explanation about the alleged irregularities within 10 days. Glenmark has, however, denied any wrongdoing.The alleged misconduct on the part of the company has triggered a tough response from India’s apex drug regulatory authority, which has sent a show cause notice to the company for failing to ensure that clinical trial was conducted in accordance with the Drug and Cosmetics Act, 1940 and Rules 1945, GCP guidelines.