Benchmark indices tanked more than a percent as the banking stocks continue to witness the selling pressure after a fraud detected in PNB. Global markets cues remained bullish though; the domestic equities continue to trade lower with nifty 50 ending at 10453.35.
IT stocks were the major gainers of the day while Metal and Realty shares were the major losers of the day.
Global Markets Update
European shares were set to snap a 3 week losing streak on Friday, supported by continued strength in earnings updates, as volatility calmed down and jitters over rising inflation eased.
Walmart Inc is in talks to buy a stake of more than 40 % in Indian e-commerce firm Flipkart, a direct challenge to Amazon Inc in Asia’s third-largest economy.
Paints and coatings firm Akzo Nobel India today said it has signed a definitive agreement to divest its speciality chemicals business as a going concern to an affiliate of the Akzo Nobel Group for Rs 320 crore.
Topaz Solar plans to set up a 500-MW per annum solar module manufacturing facility in Odisha. The project, which is phase-I of the investment plan, is estimated to cost ₹240 crore.
Auto major Mahindra & Mahindra (M&M) today said it will invest up to Rs 176 crore in car and bicycle rental firm Zoomcar India and Zoomcar Inc, its US incorporated holding parent company.
Infrastructure construction and Management Company HG Infra Engineering will open its initial public offering for subscription on February 26, with a price band of Rs 263-270 per share.
Gitanjali Gems is locked in lower circuit for the second straight day, down 20% at Rs 37.55, its fresh 52-week low.
Share price of Indoco Remedies added 6.4 percent on Friday as it has received certification for its Goa plant.
Japanese stocks rose on Friday, with investors relieved to see the government appoint Bank of Japan Governor Haruhiko Kuroda for another term and choose an advocate of bolder monetary easing as one of his deputies.
U.K. stocks on Friday advanced, following U.S. stocks in their recovery effort and putting London’s blue-chip market on course to break a string of weekly losses.
Australia’s the S&P/ASX 200 rose 0.81 percent, with the energy, materials and gold sectors among the best-performing sectors in the morning. Major miners were higher early on: Rio Tinto rose 2.59 percent and BHP gained 3 percent.
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