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After opening higher, the key indices reversed trend in morning trade. Some range bound trading was witnessed in mid-morning trade. Fresh bout of selling pressure emerged in early afternoon trade and indices hit fresh intraday low in late trade. The Nifty 50 lost 34.35 points and settled at 11752.80. Investors remained cautious amid ongoing Q4 earnings season and second phase of polling for the 2019 Lok Sabha elections.  Domestic financial market will remain closed on Friday, 19 April 2019, on account of Good Friday.

Global Markets

Shoe Company Skechers fell sharply midday following disappointing profit and sale guidance.Skechers fell 11%, while the S&P 500 consumer discretionary index rose 0.5%. Canada stocks were higher after the close on Thursday, as gains in the Consumer Discretionary, Healthcare and IT sectors led shares higher. The S&P/TSX Composite gained 0.41% to hit a new all time high.

Stock Snippets

Cipla’s South African arm signed an agreement to acquire 30% stake in Brandmed.

Cadila Healthcare informed that the company has received final approval from the US Food and Drug Administration (USFDA) to market Acetazolamide for Injection USP (US RLD —Diamox for Injection), 500 mg per single-dose vial.

Jet Airways suspends all flights after banks refuse to release funds; 22,000 employees stare at bleak future.

Toyota selected Hindalco Industries subsidiary Novelis as aluminum supplier for 2019 vehicle RAV4.

Shares of Reliance Industries were trading 2% higher ahead of release of its earnings after media reports suggested that Saudi Aramco is planning to acquire 25% stake in RIL’s refining and petrochemical business.

Mahindra, Ford sign agreement to co-develop a midsize SUV.

Global Markets

Star Cement rose 6.7% after company received Rs 174.48 crore towards its freight subsidy claims from the Central Government.

Sweden stocks were higher after the close on Thursday, as gains in the Industrials, Consumer Services and Technology sectors led shares higher.The OMX Stockholm 30 gained 0.64% to hit new 6-months high.

Netherlands stocks were higher after the close on Thursday, as gains in the Basic Materials, Industrials and Consumer Services sectors led shares higher.The AEX rose 0.60% to hit new 6-months high.

Norway stocks were higher after the close on Thursday, as gains in the Auto & components, Pharma Biotech & Life Sciences and Energy sectors led shares higher.The Oslo OBX rose 0.22%.

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