Benchmark indices traded lower on the Expiry trade session of DEC F&O expiry and for the second continous trade session following the news that borrowing of Govt of India may increase after decreased tax collection under the new tax regime of GST. Nifty ended the Dec expiry at 10489.80.
Metal and Realty stocks were the major gainers of the day while PSU bank shares were the major losers of the day.
Global Markets Update
China’s finance ministry said on Thursday profits reinvestment by foreign firms in China will temporarily be exempted from provisional income tax.The ministry said on its website that the move is designed to encourage overseas investors to boost investment in the country. European shares drifted lower in early deals on Thursday with company news and macro eventsscarce in holiday thinned trading.
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Larsen & Toubro’s (L&T) construction arm has bagged an order of Rs. 1,600 crore in the international market. Power transmission and distribution business has secured an order worth Rs. 1,600 crore from Saudi Electricity Company to build a double circuit overhead transmission line.
Shares of Axis Bank today tanked nearly 2 per cent after the Securities and Exchange Board of India has ordered the lender to conduct a probe into the alleged data leak.
Shares of Kolte-Patil Developer rallied nearly 7% on Thursday after the company said that global investment firm KKR will invest Rs 193 crore in its township at Pune.
Star Cement rose 5.91% after the company said it received Rs 158.82 crore as capital investment subsidy from the central government.The announcement was made after market hours yesterday, 27 December 2017.
Nila Infrastructures entered into an agreement for construction and implementation of project with Vyapti Infrabuild Pvt Ltd for an amount of Rs441.6mn.
European shares drifted lower in early deals on Thursday with company news and macro events scarce in holiday-thinned trading, while Britain’s FTSE 100 hovered just under a record high.The pan-European STOXX 600 (STOXX) index was down 0.1 percent, while blue chips slipped 0.2 percent.
Asian shares rose to a one-month high on Thursday and were on track for their best annual performance since 2009, while commodity-driven currencies were buoyed by a strong copper, which held near a four-year peak. SCI’s broadest index of Asia-Pacific shares outside Japan.
Hong Kong’s Hang Seng index .HSI rose 0.6 percent. Japan’s Nikkei .N225 climbed 0.2 percent.