Benchmark indices traded bullish after opening marginally higher on account of buying in index heavy weights like INFY and other technology stocks. Asian cues remained subdued today. Nifty ended the fourth trading session of the week to close at 10572.25.
Pharma, Realty and PSU bank shares were the major gainers of the day while Power stocks were the major losers of the day.
Global Markets Update
Shares in European plane maker Airbus fell on Thursday after the company said it was considering increasing a provision for losses on its contract for the troubled A400M military transport plane. A European recovery rally dissipated on Thursday with benchmarks across the region weighed down by commodities and technology stocks, while acquisition approaches sent Danish telecoms group TDC and Swiss insurer Swiss Re flying.
The country’s largest passenger car maker, Maruti Suzuki India (MSIL), on Thursday launched the much awaited third generation Swift priced between Rs 4.99 lakh and Rs 8.29 lakh.
JSW Steel has placed a ₹29,700-crore bid for acquiring the stressed asset of Bhushan Steel and has agreed to pay ₹28,000 crore upfront and the rest in equity, according to sources in the banking sector.
Auto components major Bharat Forge has reported a 77.39 per cent jump in net profit at Rs 228.17 crore for the quarter ended December 31, 2017. The company had posted a net profit of Rs 128.62 crore in the same period previous fiscal.
Cadila Healthcare Ltd (Zydus Cadila) has posted a standalone net profit of Rs 306 crore for the quarter ended December 2017 up from Rs 22 crore reported in the corresponding quarter a year ago.
Megha Engineering & Infrastructure Ltd (MEIL) has announced the commissioning of its ₹4,150-crore mega power transmission line for the Western Uttar Pradesh Power Transmission Company Ltd.
Japan’s Nikkei share average rose on Thursday as buyers looked for bargains on shares which were beaten down heavily early in the week. The Nikkei ended up 1.1 percent at 21,890.86 points.
China stocks ended lower to post a third consecutive session of losses on Thursday, with the benchmark Shanghai index hitting a six-month low, even as data showed the country’s trade performance in January exceeded expectations.
Philippines stocks were lower after the close on Thursday, as losses in the Mining & Oil, Industrials and Banking & Financials sectors led shares lower. At the close in Philippines, the PSEi Composite lost 0.26%.
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