The market settled with decent gains, boosted by firmness in Reliance Industries and HDFC twins. Positive global shares, healthy macro-economic trade data along with a slight recovery in rupee supported gains in today’s trade.The health of the market was negative.
The Nifty 50 gained 65.50 poinst and settled the day at 10682.20. PSU Banks were the major gainer and Metal sector were the major losers of the day.
European shares recovered on Friday as investors licked their wounds after a tumultuous week and strong results from Vivendi boosted the media sector. The STOXX 600 was up 0.7%.SAP, the German business software company, still expects its margins to expand after its $8 billion takeover of Qualtrics, the U.S. company that specializes in tracking the sentiment of consumers online.
Shares of Welspun Corp rallied 4% after receiving an order from North America for the supply of 166KMT of pipes for an Oil and Gas project.
Biocon’s commercial partner Mylan has launched Semglee, an approved biosimilar of insulin glargine in the UK. Insulin Glargine is sold by its innovator Sanofi under the brand Lantus; Glagrine is a long-acting basal insulin indicated for the treatment of diabetes.
Zydus Cadila has received the final approval from the USFDA to market Abacavir and Lamivudine Tablets USP, 600 mg/300 mg (US RLD — EPZICOM), and Fondaparinux Sodium Injection
SRF extends capex estimates from Rs 180 crore to Rs 257 crore for enhancement and integration of agrochemical plant in Gujarat.
Lemon Tree signs license agreement for a 76-room property in Odisha. The hotel will be operational by March 2020.
M&M announced that it will increase the price of the Marazzo by Rs 30,000 – Rs 40,000, that effective from 1st January 2019.
Indonesia stocks were higher after the close on Friday, as gains in the Infrastructure, Basic Industry and Agriculture sectors led shares higher. The IDX Composite Index rose 0.95% to hit a new 1 month high.
Japan stocks were lower after the close on Friday, as losses in the Chemical, Petroleum & Plastic, Services and Glass sectors led shares lower. The Nikkei 225 declined 0.57%.
China stocks were higher after the close on Friday, as gains in the Technology Hardware & Equipment, Real Estate Investments & Services and Technology sectors led shares higher. The Shanghai Composite added 0.41% to hit a new 1 month high, while the SZSE Component index climbed 0.75%.
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