Benchmark indices traded flat on the last trading session of the week and ended marginal higher breaking the five days loosing streak amid mixed global cues besides the January F&O series rollover helped the market to sustain higher. Nifty ended the session to close at 8005.55.Markets are expected to be volatile in coming trading session as the next trading weak is the last week of December F&O expiry.
Pharma and Auto stocks were the major gainers of the day while IT shares were the losers for the day.
Global Markets Update
European Markets were mostly on positive side on Friday, although trading volumes continued to depreciate as traders were unwinding their positions ahead of Christmas Holidays.
Swiss Bank, Credit Suisse Inc has finally agreed for the principle pay to U.S. authorities a sum of USD 2.48 billion to settle the claims of the investors in residential mortgage-backed securities it sold in the run-up to the 2008 financial crisis.
Divi’s Laboratories Ltd tanked with a massive 20.88 percent fall on Friday, following the reports for adverse observations at Vizag city, where the observations pointed out to data integrity, improper control and violations of current good manufacturing practices. Stock hit 52 week low of 801 and closed at Rs 877.70.
Cipla Ltd surged 3.66 percent on intraday, as the company has yielded a final approval for its lead MDI product Fluticasone + Salmeterol (Sereflo) from UK Medicines and Healthcare products Regulatory Agency (MHRA). Stock closed at Rs 581.95.
Reliance Infrastructure Ltd sold out its entire 4.12 percent stakes in India Energy Exchange Group Inc for Rs 100.3 million to a non resident investor. Stock closed on downside losing 1 percent at Rs 477.80.
Sunil Hi tech Engineers Ltd surged almost 5 percent upper circuit on heavy volumes on Friday trade. Stock witnessed volume spurt by more than 2.64 times, closing at Rs 12.65.
Wipro Ltd slipped 0.57 percent on intraday, after the IT major will be USD 5 million to close six year old United States securities probe of money embezzlement, made by one its employee. Stock closed on downside at Rs 459.05.
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