Key benchmark indices drifted higher in early trade on buying demand in index pivotals. Stocks held onto gains in morning trade. The market turned range bound in afternoon trade. Market regained strength in mid-afternoon trade as European stocks were trading higher in early trade. Stocks extended gains in late trade.The Nifty 50 gained 71 points and settled at 10863.50. All the sectorial indices ended on postive note among them Media and PSU Banks were major gainers of the day.
Amazon.com Inc plans to open dozens of grocery stores across the United States as it looks to expand in the food business. U.S. stocks were higher after the close on Friday, as gains in the Oil & Gas, Healthcare and Technology sectors led shares higher. The Dow Jones Industrial Average gained 0.43%, while the S&P 500 index added 0.69%, and the NASDAQ Composite index gained 0.83%.
Motherson Sumi arm signed agreement with the UK-based Bombardier Transportation to acquire the latter’s assets in connection with production and installation of electrical components and systems for applications in the rail industry.
Vedanta’s Zinc mine in South Africa officially opened. The project was given a go-ahead in 2014 and Gamsberg Reserve, South Africa Mine has reserve of 214 MT and estimated life of 30+ years.
Jet Airways (India) rose 5.25% on media reports that Naresh Goyal has agreed to step down as chairman of the company to allow a debt recast plan.
Kotak Mahindra Bank reduced MCLR by 5bps across various tenors. One month MCLR at 8.35% and one year MCLR at 9%.
Wockhardt has received approval from the United States Food & Drug Administration (USFDA) for an ANDA for 250mg tablet of Abiraterone acetate, which is used to treat prostate cancer.
Canada stocks were higher after the close on Friday, as gains in the IT, Consumer Discretionary and Clean Technology sectors led shares higher. The S&P/TSX Composite rose 0.43%.
Netherlands stocks were lower after the close on Friday, as losses in the Oil & Gas, Technology and Basic Materials sectors led shares lower. The AEX lost 0.46%.
Sweden stocks were higher after the close on Friday, as gains in the Oil & Gas, Healthcare and Technology sectors led shares higher. The OMX Stockholm 30 rose 0.48%.
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