Key equity indices ended with modest losses on Friday as investors booked profits after the Narendra Modi government announced the allocation of the Cabinet portfolios. Sentiment was also impacted by negative global cues.Indices opened higher and advanced further to hit fresh intraday high in morning trade. The Sensex crossed 40,000 and the Nifty breached 12,000. After hovering near day’s high in mid-morning trade, benchmarks reversed trend in early afternoon trade. Barometers pared losses in late trade.
Shares of German car makers extended losses after U.S. President Donald Trump threatened to slap tariffs from next month on imports from Mexico, where the big three manufacturers have plants. European stocks tumble and sovereign bonds surged on Friday as investors feared President Donald Trump’s shock threat of tariffs on Mexico risked tipping the United States into recession while disappointing China data added to the woes.
Ring Plus Aqua, a subsidiary of Raymond announced the opening of its third manufacturing facility at Sinnar.
Shares of NCC tanked nearly 18 percent after the new newly instated Andhra Pradesh government decided to cancel all projects sanctioned prior to April 1 by the previous N Chandrababu Naidu government but work on which was yet to take-off.
Shares price of Glenmark Pharma fell 3 percent as global brokerage house CLSA downgraded the stock after March quarter earnings missed analyst estimates.
Jet Airways said it’s not in a position to approve its financial results.
Ujjivan Financial Services stock in focus as Deepak Khaitan resigned from the post of CFO with effect August 02, 2019 and Barun Agarwal has been appointed in his place.
Natco Pharma said it has settled patent litigation with Onyx Therapeutics Inc in the US over a generic version of Kyprolis, an anti-cancer drug.
AstraZeneca said that it has opened a new development operations centre in Bengaluru to support the expansion of its clinical research footprint in India
Japan stocks were lower after the close on Friday, as losses in the Paper & Pulp, Food and Pharmaceutical Industry sectors led shares lower.The Nikkei 225 declined 1.63% to hit a new 3-months low.
Australia stocks were higher after the close on Friday, as gains in the Gold, Healthcare and Materials sectors led shares higher.The S&P/ASX 200 rose 0.08%.
The Shanghai Composite and the Shenzhen Component edged up 0.1% and 0.2% respectively.
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