The domestic market dropped for a second straight session on Friday, dragged by selling in index heavyweight Reliance Industries, HDFC and Infosys. Moreover, Reliance earnings, NBFC crisis and H1-B visa issue dented market participant sentiment. The Nifty 50 opened gap down and traded with negative sentiments throughout the day.
The Nifty 50 lost 149.50 points and settled the week at 10303.55. FMCG sector were the major gainer and IT sector were the major loser of the day.
Honeywell International Inc reported a better-than-expected quarterly profit driven by strong sales in its aerospace and warehouse automation businesses. Australia stocks were lower after the close on Friday, as losses in the IT; Healthcare and Consumer Discretionary sectors led shares lower. The S&P/ASX 200 fell 0.05%.
Zydus Cadila received the tentative approval from the USFDA to market Colchicine Tablets USP (US RLD —Colcyrs), 0.6 mg. This medication is used to prevent or treat attacks of gout (also called gouty arthritis).
Share prices of Indiabulls Housing Finance plummeted 15% even after the company clarified their stand on developer loans in an exchange filing.
Lupin has informed that its Pithampur Unit-3 (Indore) has recently been inspected by the USFDA and has received five observations. The GMP inspection was pre-approved in nature for Lupin’s Tiotropium DPI ANDA.
Share price of Dish TV declined 6% after Mukesh Ambani-led Reliance Industries Ltd announced a strategic investment in and partnership with Den Networks Ltd and Hathway Cable and Datacom Ltd.
PTC India will sign medium-term power purchase agreements (PPA) for 1,900 MW coal-based power capacities with seven companies and five states by month-end under a pilot scheme.
Philippines stocks were higher after the close on Friday, as gains in the Holding Firms, Services and Property sectors led shares higher. The PSEi Composite added 0.14%.
Japan stocks were lower after the close on Friday, as losses in the Chemical, Petroleum & Plastic, Machinery and Chemical sectors led shares lower. The Nikkei 225 fell 0.56%.
Taiwan stocks were lower after the close on Friday, as losses in the , Auto and Oil, Gas & Electricity sectors led shares lower. The Taiwan Weighted declined 0.35%.
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