Benchmark indices traded flat on the last trading session of the week and ended marginal higher breaking the five days loosing streak amid mixed global cues besides the January F&O series rollover helped the market to sustain higher. Nifty ended the session to close at 8005.55.Markets are expected to be volatile in coming trading session as the next trading weak is the last week of December F&O expiry.
Pharma and Auto stocks were the major gainers of the day while IT shares were the losers for the day.
Global Markets Update
Headed for a fourth straight annual profit decline, Hyundai Motor is trimming its cost fat; scaling back on business class flights and annual family home trips for overseas employees.
European shares were steady on Friday with the focus on lenders after Deutsche Bank and Credit Suisse settled mortgage securities fraud suits in the United States, and Italy’s Monte dei Paschi agreed to a bailout.
InterGlobe Aviation shares moved higher in an otherwise market after a media report indicated that overseas investment firms are looking for controlling stake in parent company’s travel reservation subsidiary.
Lupin gets tentative approval for its Olmesartan Medoximil Tablets 5mg, 20mg and 40mg from the United States Food and Drug Administration to market generic version of Daiichi Sankyo Inc’s Benicar® Tablets 5mg, 20mg and 40mg.
Sun Pharma shares ends lower on NSE today despite of positive news flow that company’s arm Taro received USFDA approval for generic Zovirax ointment.
NTPC Ltd has informed that the Unit-1 of 800 MW of Kudgi Super Thermal Power Project of NTPC Limited in Karnataka has been commissioned on December 25, 2016. This is the first 800 MW unit commissioned by NTPC.
Allahabad Bank announced that the Board of Directors of the Bank at its meeting held on December 23, 2016 has accorded its in-principle approval for the merger of its wholly owned subsidiary – AllBank Finance with the Bank subject to necessary statutory and regulatory approvals; Stock tanks.
Japan’s Nikkei share average dropped on Monday in thin trade led by falls in banking and exporter stocks with risk appetite sapped by a pause in the yen’s recent tendency to weaken.
Israel stocks were lower after the close on Sunday, as losses in the Insurance, Biomed and Technology sectors led shares lower.
Saudi Arabia stocks were higher after the close on Sunday, as gains in the Energy & Utilities, Building & Construction and Insurance sectors led shares higher.
United Arab Emirates stocks were higher after the close on Sunday, as gains in the Finance & Investment, Transport and Real Estate & Construction sectors led shares higher.
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