Markets traded lower amid weak global cues despite better than expected GDP data; India’s economic growth recovered to a five quarter high of 7.2% during October December, backed by strong manufacturing and investment activity. Nifty closed the last trading session of the week at 10456.55. Pharma stocks were the major gainers of the day while PSU bank shares and Realty shares were the losers of the day.
Global Markets Update
Hyundai Motor Co. warned it may rethink how many vehicles it builds in the US, joining the world’s largest automakers in speaking out against US President Donald Trump’s crackdown on steel and aluminum imports.
Canada stocks were lower after the close on Friday, as losses in the Healthcare, Energy and Industrials sectors led shares lower.At the close in Toronto, the S&P/TSX Composite declined 0.01%.
Fortis Healthcare reported a consolidated net loss of 19.10 crore for the quarter ended December 2017 against a profit of 453.29 crore in the year ago period.
NCC received seven new orders totalling Rs 2,980 crore in February 2018, with the company order book going up significantly during the current financial year. With the latest orders, the company’s total order book has gone up to Rs 31,627 crore.
Larsen & Toubro’s construction arm has won orders worth Rs 1,593 crore across business segments.L&T said water and effluent treatment business has bagged an order worth Rs 1,058 crore.
State-owned Oil and Natural Gas Corp (ONGC) has sought shareholder approval for its decision to buy government’s 51.11 percent stake in Hindustan Petroleum Corp Ltd (HPCL) for Rs 36,915 crore.
Bajaj Auto reported a 31 percent jump in total sales at 3, 57,883 units in February against 273,513 units in the same month last year. Overall domestic sales increased 35 percent to 214,023 units against 159,109 units in February last year
Japanese stocks fell to a 2-1/2-week low on Friday, with steelmakers and automakers taking a battering after President Donald Trump said the United States would impose import tariffs on steel and aluminum, sending the short-sell ratio to a record high
China stocks fell on Friday, as investors were cautious ahead of next week’s National People’s Congress (NPC) gathering in Beijing.
Hong Kong stocks fell the most in three weeks on Friday, as concerns of a global trade war hit already shaky confidence due to prospects of a faster pace of U.S. monetary tightening.
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