Key benchmark indices ended the volatile session lower on Friday, with the Nifty slipping below the 12,000 mark. After a positive opening, the indices tumbled in early afternoon trade. The benchmark indices bounced back in afternoon trade after Economic Survey projected GDP growth at 6-6.5% for 2020-21. However, fresh selling pushed the indices to the day’s low in the final hour of trade. Sentiment was cautious ahead of the Union Budget on Saturday, 1 February.
Hyundai Motor will skip South Korean production of its Palisade sport utility vehicle to cope with a supply disruption caused by a virus outbreak. European stock markets pushed higher, amid growing confidence coronavirus outbreak in China can be contained. However, gains are likely to be limited as the latest economic data suggest the euro zone’s economy weakened ahead of the U.K.’s departure from the EU. The DAX gained 25 points.
Aurobindo Pharma’s joint venture company, Eugia Pharma Specialities, has received a final approval from the US Food & Drug Administration (USFDA) to manufacture and market Methotrexate tablets, 2.5 mg.
Indiabulls Real Estate approved the proposal of the merger of certain ongoing, completed and planned residential and commercial projects of Embassy Property Developments Private Limited with the company.
IOC has accorded approval to the project for expansion of capacity (crude processing) of its Barauni Refinery in Bihar from 6.0 MMTPA to 9.0 MMTPA at an estimated cost of Rs 13,779 crore.
Bharat Heavy Electricals has signed a memorandum of understanding (MoU) with Energy Efficiency Services Limited (EESL). The parties have agreed to explore opportunities and develop the network of Public Charging Infrastructure for electric mobility on various highways and across cities pan India.
Asian equities rebounded on Friday in Asia, snapping this week’s run of losses. Overnight, the World Health Organization said the fast-spreading coronavirus is a global health emergency.
Japan stocks were higher after the close on Friday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher. The Nikkei 225 gained 0.99%.
Australia stocks were higher after the close on Friday, as gains in the IT, Consumer Staples and Healthcare sectors led shares higher. The S&P/ASX 200 gained 0.13%
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