The market ended on a subdued note amid mixed cues from other Asian shares. Selling in Kotak Mahindra Bank, HDFC Bank and Reliance Industries capped gains.The indices opened lower, but bounced back in morning trade. The recovery was short lived as indices slipped once again in mid-morning trade. Indices firmed up again in mid-afternoon trade and ended near flat line.The Nifty 50 gained 1.80 points and settled the day at 10791.65. Metal sector were major gainer and Private Banks were major loser of the day.
French bank Societe General SA is planning to cut thousands of jobs at its global banking and investor solutions unit, as it looks to offset cost pressure from regulation. Europe’s main stock markets barely budged on Friday but results from companies including Sweden’s Elekta, Switzerland’s Sika, and France’s Sopra Steria kept trading lively while investors waited with bated breath for news from crucial U.S.-China trade talks.
Dr Reddy’s Laboratories rose 1.92% after the company said that the audit of its formulations Shrevepmi plant, Louisiana, USA, by the US FDA, has been completed with zero observations. The announcement was made during market hours today, 22 February 2019.
Kaveri Seed clarified that the government of Andhra Pradesh had suspended the licenses of 14 Seed Companies including the Kaveri Seed Company on January 28.
Bharat Electronics signed a teaming agreement with Hughes India to provide satellite communication solutions for helicopter. The company also stated it has signed MoU with JSR Dynamics for manufacture and sale of Glide Weapons and Light Weight Cruise Missiles.
GMR Airports Limited, a subsidiary of GMR Infrastructure Limited along with Greek partner TERNA Group has signed the Concession Agreement for Design, Construction, Financing, Operation, and Maintenance & Exploitation of New International Airport of Heraklion at Crete, Greece.
Japan stocks were lower after the close on Friday, as losses in the Mining, Marine Transport and Shipbuilding sectors led shares lower. The Nikkei 225 declined 0.18%
Chinese shares rallied in the afternoon after a tentative start as optimism over trade talks reasserted it, pushing the blue-chip index 2.2 percent higher. Australia stocks were higher after the close on Friday, as gains in the A-REITs, Consumer Discretionary and Telecoms Services sectors led shares higher.The S&P/ASX 200 added 0.46% to hit new 3-months high.
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