Benchmark indices scaled to new life time high on the last trading session of the week to post biigest weekly gain of the year on account of continued foreign fund inflows, encouraging quarterly results and a firm trend in other Asian bourses.Nifty ended the session to close at 10901.05.Private bank stocks were the major gainers of the day while Cement stocks were the major losers of the day.
Global Markets Update
Cookson Peirce & Co Inc increased its stake in Alibaba Group Hldg Ltd Sponsor by 2730.74% based on its latest Q3 regulatory filing with the SEC. Cookson Peirce & Co Inc bought 92,845 shares as the company’s stock rose 22.58% with the market.
Europe stocks traded higher with gains for industrial and tech shares drawing the region’s benchmark toward its third straight weekly win, as investors appeared to set aside concerns about a possible shutdown of the U.S. government.
Reliance Industries has reported consolidated profit growth of 16.2 percent QoQ at Rs 9,423 crore for October-December quarter, driven by petrochemical and Jio businesses. Consolidated revenue from operations during the quarter grew 7.8 percent quarter-on-quarter to Rs 1,02,500 crore, aided by volume increase with start-up of petrochemicals projects and increase in prices in refining and petrochemical businesses.
Wipro posted December quarter earnings that missed Street estimates. The company’s IT services earnings before interest and taxes (EBIT) was reported at Rs 1,959 crore, against Rs 2,278 crore, a drop of 14 percent year on year. The company reported profit at Rs 1,930.1 crore, down 12%.
Kotak Mahindra Bank reported steady set of numbers for December quarter, where the standalone net profit rose to Rs 1,053 crore against Rs 880 crore that it posted during the same quarter last year, a rise of around 20 percent. The private sector lender’s standalone NII rose to Rs 2,394 crore
Cadila Healthcare shares rallied and closed on falt to positive not after company announced that its Dabhasa API facility successfully completed the USFDA inspection. At the end of inspection, no observation (483) is issued.
Most major indexes in Asia closed with gains although the Australian benchmark tracked lower. Wall Street, for its part, closed its Thursday session with slight losses amid political concerns.
Japan’s Nikkei share average edged up with financial stocks leading the gains after U.S. yields rose, while GMO Internet soared after an activist fund called on the company to change its governance structure.
Taiwan stocks were higher after the close on Friday, as gains in the Other Electronic, Semiconductor and Electronics sectors led shares higher.
(Click to submit your details) Just one step to get best trading tips and Recommendation.