The key Indian benchmarks Opened with weak not and showed volatile movement due to the expiry of derivative contracts for February series and recovered its earlier losses. the markets react to a report that India’s GDP growth in the third quarter of the current fiscal is likely to be in the range of 6.5-7 percent and may expand further in following three months Also, EPFO lowered the rate of interest on employees provident fund to 8.55%.
Global Markets Update
European shares showed downs side movement in early trading as a flurry of corporate results fail to lift sentiment after a new wave of speculation about faster hikes in U.S interest rates hit Wall Street and Asia and soured risk appetite globally. Most European bourses and sectors were falling and on Thursday, the pan-European STOXX 600 index was down 0.7 percent.
Gitanjali Gems share prices hit an all time low and were locked in the 5% lower circuit driven by the reports that the SEBI revived an old case against the company and its promoter for allegedly manipulating trade.
Bharat Petroleum Corporation Limited share prices fell around 4%, because of the the stock traded ex-dividend. On Feb 9, BPCL board had declared an interim dividend of Rs14 per share.
Allahabad Bank share prices decline over 3% intraday reason being the investors reacted to its announcement of exposure to Rotomac Group.
Glenmark Pharmaceuticals declared that it has entered into an exclusive agreement with Sam Chun Dang Pharm. Co. Ltd. to develop, manufacture and market a portfolio of ophthalmic products in the US and Canada.
Britannia’s share prices surged around one percent in intraday because of the investor’s cheered Credit Suisse initiating coverage on the stock.
European stocks retreated in early trading sessions because a flurry of corporate results fail to boost the sentiment after a new wave of speculation about faster rise in U.S. interest rates hit Wall Street and Asia and soured risk appetite globally.
Japan shares were traded lower at the close on Thursday, followed by the losses in the Gas & Water, Finance & Investment and Construction sectors dragged the stocks lower.
Philippines shares were traded lower at the close on Thursday, led by the losses in the Mining & Oil, Holding Firms and Property sectors dragged the stocks lower.
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