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Market Snippet
Benchmark indices traded flat on the expiry trade session of JAN F&O series on account of profit booking seen ahead of Govt budget 2018-19 which is to be announced in Feb 2018.Global market cues remained bullish though.Nifty setteled the expiry at 11065.15. Private Banks and Metal stocks were the major gainers of the day while PSU banks and Realty shares were the major losers of the day.

Global Markets Update
Departing Hewlett Packard Enterprise Co CEO Meg Whitman will become chief executive of DreamWorks co-founder Jeffrey Katzenberg’s mobile media firm NewTV, a move that places her back into uncharted territory.
European markets traded mixed. The CAC 40 is higher by 0.06%, while the DAX is leading the FTSE 100 lower. They are down 0.37% and 0.09% respectively.

Nifty

Stock Snippets

Dr Reddy’s Laboratories profit for December quarter fell sharply by 38.5 percent year-on-year to Rs 302.7 crore, but sequential decline in bottomline was just 0.88 percent due to improvement in North America business. Revenue from operations grew by 3 percent year-on-year and 7.7 percent quarter-on-quarter to Rs 3,834.1 crore for quarter ended December 2017.

Glenmark Pharma has reported positive clinical trial data on its phase 1 molecule GBR 1302. GBR 1302 is a potential drug candidate in Breast Cancer and Gastric Cancer. The company has indicated that the preliminary data for GBR 1302 tells about the spikes in peripheral blood cytokines and a drop in T cell levels suggesting the potential for T cell activation.

Shares of State Bank of India and other big state-run banks fell as they stood to receive less money than investors had expected from the government’s much-awaited recapitalisation plan.

Shares of NCC moved higher on the back of approval of fund raising via qualified institutional placement (QIP). The QIP Committee of the board of directors of the company has approved the floor price for the QIP, at Rs 129.47 per share, determined in accordance with the pricing formula provided under Regulation 85(l) of the ICDR Regulations.

Global Markets

Asian stocks hit a record high on Thursday though concerns about the Trump administration’s protectionist stance tempered enthusiasm in financial markets, while the dollar struggled after U.S. Treasury Secretary Steven Mnuchin welcomed a weaker currency.

Japan stocks were lower after the close on Thursday, as losses in the Glass, Electrical/Machinery and Machinery sectors led shares lower.At the close in Tokyo, the Nikkei 225 declined 1.11%.

Taiwan stocks were higher after the close on Thursday, as gains in the Auto, Plastic and Chemical sectors led shares higher.At the close in Taiwan, and the Taiwan Weighted added 0.12%.

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