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Market Snippet

Benchmark indices traded bullish on the second trading session of the week ahead of F&O expiry due on thrusday on account of short covering and value based buying in quality stocks across the bourse. Also the firm global cues from European market supported the rally. Nifty ended the session to close at 8024.

The FMCG and Metal Stocks were the major gainers of the day while select cement and power stock were the losers for the day.

Nifty

nifty

Global Markets Update

Panasonic Corp will invest more than 30 billion yen in a New York production facility of Elon Musk’s Tesla Motors to make photovoltaic cells and modules, deepening a partnership of the two companies.

Japanese stocks were nearly flat, while Toshiba Corp plummeted nearly 12% after saying that it was considering booking a goodwill impairment loss of several hundreds of billion yen.

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Stock

Cigarette stocks such as ITC, Godfrey Phillips shines on the back of positive news flow that tobacco may be exempted from steep hike in taxes in the Budget for 2017-18.

The government has named former Supreme Court judge G S Singhvi on the three-member arbitration panel that will decide on the validity of its $1.55 billion compensation claim from Reliance Industries for “unfairly enriching” and producing natural gas belonging to ONGC.

Glenmark Pharmaceuticals ends on a flat to positive note after company has been granted final approval by the United States Food & Drug Administration (USFDA) for Tretinoin Capsules, 10 mg, the generic version of Vesanoid Capsules, 10 mg, of Hoffmann La Roche, Inc.

Apollo Hospitals gains after company has issued a Letter of Comfort for an aggregate sum of Rs 37.10 crore to ICICI Bank in connection with the sanction of credit facilities in favour of its step-down subsidiary, “Alliance Dental Care Limited, Chennai”.

Lupin gains after received tentative approval from the US health regulator to sell Olmesartan medoximil tablets, used for treating high blood pressure, in the American market.

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