Key benchmark indices logged strong gains on last trading day of the week on steady buying demand in index pivotals.Sentiment was boosted by an overnight slide in crude oil prices. Narendra Modi-led NDA’s thumping victory in Lok Sabha polls also supported buying. A strong mandate for the NDA could mean that economic reforms would be decisively implemented.Sensex, gained 623.33 points or 1.61% at 39,434.72, as per the provisional closing data. The Nifty 50 index gained 187.05 points or 1.6% at 11,844.10, as per the provisional closing data.
The China Air Transport Association estimates losses caused by the grounding of Boeing Co’s 737 MAX aircraft will reach around 4 billion yuan by the end of June. European shares recovered some ground on Friday after a bruising session a day earlier, as U.S. President Donald Trump predicted a swift end to the ongoing trade war with China that has dominated trade on financial markets. European STOXX 600 was up 0.5%.
Cipla signed an agreement to acquire 26% stake in AMP Solar Power Systems for Rs12.9cr.
MOIL inked an MoU with the Ministry of Steel for the financial year 2020. The production target of 14.75 lakh tons of manganese ore and capex target of Rs210cr set.
Pollution Control Board revoked the closure directions on Radico Khaitan ’s Uttar Pradesh plant.
HDFC sold 6.10% stake in Gruh Finance to meet RBI conditions for Bandhan Bank merger
Sun TV Network shares fell 6.5% after company reported weakear-than-expected operating results in January-March quarter due to TRAI’s new regime.
Share price of Jet Airways tanked over 8 % after reports stated that Hinduja Group and Etihad Airways have failed to strike a deal to buy a stake in the cash-strapped airlines.
Glenmark Pharma shares fell after a media report indicated company’s Goa facility received VAI status.
Japan stocks were lower after the close on Friday, as losses in the Chemical, Petroleum & Plastic, Mining and Communication sectors led shares lower. The Nikkei 225 declined 0.16%.
Australia stocks were lower after the close on Friday, as losses in the Energy, Consumer Staples and IT sectors led shares lower. The S&P/ASX 200 lost 0.55%.
Canada stocks were lower after the close on Thursday, as losses in the Energy, Healthcare and Industrials sectors led shares lower. The S&P/TSX Composite fell 1.00% to hit a new 1-month low
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