Domestic stocks settled with modest gains on steady buying demand in index pivotals. Local stocks edged higher in early trade on buying demand in index pivotals. Key indices hovered in positive zone in afternoon trade. Stocks extended gains in mid-afternoon trade as European stocks rose in early trade. Indices hovered with modest gains in late trade. The Nifty 50 gained 53.90 points and settled at 11623.90.PSU Banks were major gainer and Metal sector were major loser of the day.
European shares broadly rose on Friday; helped by upbeat signs on U.S.-China trade talks and a surge for the world’s second biggest apparel retailer H&M after it topped expectations for quarterly results. The pan-European index gained 0.4%. A South Korean supplier of Tesla Inc said on Friday it had agreed to buy a shuttered auto factory from General Motors’ local unit to start contract manufacturing of electric vehicles.
Wipro signed MoU with IIT Kharagpur for research on 5G Technology and Artificial Intelligence.
Lupin launched Fluocinonide Ointment, which is used for inflammation treatment. The company had received approval for this drug by the USFDA earlier.
Shares of Suven Life Sciences gained 2% after the company secured product patent in Eurasia, Europe, South Korea, and Sri Lanka corresponding to the New Chemical Entities.
Wabco India said that its holding company has entered into a definitive agreement to sell all of its outstanding shares in an all-cash transaction at $136.5 per share aggregating to $7bn to ZF Friedrichshafen.
TVS Motor Company launched the TVS Apache RTR 160 4V in Colombia.
Eicher Motors slips after Bank of America Merrill Lynch downgraded the stock and cut price target sharply citing dealer stress.
Japan stocks were higher after the close on Friday, as gains in the Transport, Fishery and Transportation Equipment sectors led shares higher. The Nikkei 225 gained 0.82%.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.75 percent while. The Shanghai Composite Index climbed more than 3.1 percent.
Australia stocks were higher after the close on Friday, as gains in the IT, Healthcare and Telecoms Services sectors led shares higher. The S&P/ASX 200 added 0.07%
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