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Market Snippet

Benchmark indices traded volatile with bearish biasness on the third trading session of the week over the growing uncertainty of the impact of govt decision on currency demonetization which may have significant impact on sectors of economy like real estate, auto, and FMCG. The government today announced some new measures to ease the cash crunch caused by the move. Auto shares witnessed buying today while selling was observed majorly in cement shares. Nifty closed the session to settle at 8100.

Global Markets Update

European Markets were lower on Thursday after digesting breakout rally from US markets which closed downside on Wednesday. Traders keep their eyes on the Euro Zone Inflation Data due later today.

Volkswagen Inc is constantly pushing its workers to accept their cost cutting deal at its core brand by tomorrow to generate funds for investing  in electrics an self driver cars.

 NIFTY

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STOCK

Voltas Ltd tanked 7.61 percent on Thursday after the company posted 7 percent rise in consolidated profits at Rs 72 crore from  Rs 67 crore. EBIDTA margins were marked at 7 percent whereas standalone profits were at Rs 126 crore. Net income decreased from Rs 1094 crore to Rs Ras 1047 crore. Stock closed at Rs 303.40.

Bharti Airtel Ltd slipped 3.55 percent on Thursday after the company announced it merger completion of its Bangladesh telecom unit with Robi Axiate Ltd. Stock closed at Rs 298.55.

Federal Bank Ltd surged 2 percent on Thursday after a bulk deal of 3 lakh shares was executed at Rs 73.30 in later half. Stock closed at Rs 73.80adding 1.45pts

Lupin Ltd surged 0.49 percent on intraday after the company’s US subsidiary Gavis Pharma has received final approval for its  Hydrocodone Bitartrate and Acetaminophen Tablets USP from USFDA. Stock marked its closing at Rs 1414 adding  about 7 pts.

Canara Bank Ltd surged 1.80 percent on Thursday after the bank revised its deposit interest rates for different maturities in retail as well as in bulkd desposits I nthe range of 5-25 bps effective from 21st Nov. Stock closed on upside at Rs 325.60 adding 5.75 pts.

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