Key equity indices ended with small losses.Weak global cues amid concern over sluggish global growth spoiled investors sentiment. Steep selling of stocks by domestic institutional investors (DIIs) also worried investors. The indices opened with small losses and declined further to hit fresh intraday low in morning trade. Benchmarks trimmed losses in mid-morning trade. Indices were trading near day’s low in early afternoon trade. Indices turned range bound in late trade. Realty sector were major gainer and Metal sector were major loser of the day.
European stocks headed for their biggest weekly fall since December on Friday, as weak China trade data and German industrial orders tightened bears’ grip on the market, confirming a sharp global economic slowdown.The STOXX 600 fell 0.5%. Airbus shares fell on Friday after the European planemaker reported weak order figures. The planemaker had won only four gross aircraft orders over January and February.
Ashok Leyland, flagship of the Hinduja Group, had bagged an order from GSRTC (Gujarat State Roadways Corporation) for 1,290 buses. This order comes close on the back of 2,580 bus orders received from various state transport undertakings recently.
Jubilant Life Sciences has announced that the USFDA conducted inspection at a manufacturing facility in Roorkee, India, for solid dosage formulations during August 2018 and was subsequently intimated by the agency of the facility being classified the facility as “Official Action Indicated” (OAI) in December 2018 as well as issued a warning letter for the facility.
Reliance Industries entered into an MoU with NMSEZ to sublease 4,000 acres of land, and also made an initial payment of Rs2,180cr to the latter.
Infosys said it will deliver engineering and digital services to Rolls-Royce group.
Lupin received the USFDA approval for Atorvastatin calcium tablets.
Asian stock markets continued to trade ever lower on Friday afternoon after China posted worse-than-expected export data. China’s exports for February tumbled 20.7%, much lower than market expectations of a 4.8% drop.
Australia stocks were lower after the close on Friday, as losses in the Financials, Energy and Resources sectors led shares lower. At the close in Sydney, the S&P/ASX 200 fell 0.96%.
Japan stocks were lower after the close on Friday, as losses in the Shipbuilding, Chemical, Petroleum & Plastic and banking sectors led shares lower. The Nikkei 225 declined 2.01%.
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