Key benchmark indices ended with steep losses amid broad based selling pressure. The market opened lower and declined further as the session progressed. Negative leads from Asian markets and overnight slide on the Wall Street spoiled investors sentiment. . Indices cut losses soon after hitting fresh intraday low in afternoon trade. Benchmarks slumped in late trade as selling pressure intensified.The Nifty 50 lost 125.80 points and settled the day at 10943.60. Metal sector were major loser and Realty sector were major gainer of the day.
JPMorgan has appointed former Finnish Prime Minister Esko Aho to its Europe, Middle East and Africa advisory council. European stocks faltered on Friday after their worst day in six weeks as downgrades to growth forecasts weighed, while weak numbers from Umicore, Skanska, and Rockwool outweighed a sales beat from L’Oreal.The pan-European STOXX 600 hovered flat.
The Reserve Bank of India levied a penalty of Rs1cr on SBI for non-monitoring of the end use of funds in respect of one of its borrowers.
SPARC received a demand order (inclusive of penalty) worth Rs46cr for payment of Service Tax, from Commissioner of GST and Central Excise (Mumbai).
Cadila Healthcare, in its press note to the exchanges on Friday, informed that the company has received approval from the USFDA to market Carbamazepine Extended-Release Tablets USP (US RLD-Tegretol XR), 100 mg, 200 mg, and 400 mg.
Shares of Pricol Ltd were down 5% as the company announced that its Hosur plant will stay shut. The reason stated was that there is a change in business strategy in line with customer expectations.
Raymond clarified that the related party transactions are undertaken in compliance with laws and on an arm’s length basis, which has been certified by independent reputed accounting firms.
Asian stocks slipped on Friday as investors fretted about a broadening global economic slowdown, with sentiment not helped by the absence of any positive signs for a resolution in the US-China trade row.
Japan stocks were lower after the close on Friday, as losses in the Machinery, Shipbuilding and Textile sectors led shares lower. The Nikkei 225 declined 2.01%.
Australia stocks were lower after the close on Friday, as losses in the Energy, Resources and Metals & Mining sectors led shares lower. The S&P/ASX 200 lost 0.34%