Benchmark indices traded lower on the last trading session of the week as selling pressure in IT stocks amid the issue of H1-B visa kept them in pressure resisting the Nifty to raise besides the weak global cues from Europe also hit the domestic sentiments. Nifty ended the session to close below the psychological mark of 8300 at 8267.
The Banking Stocks were the major gainers of the day while IT stocks were the losers for the day.
Global Markets Update
Investors looking to upcoming U.S. jobs data to provide clues on the pace of U.S. Interest rate rises this year. Economists signaled that U.S. employers were likely to have maintained a solid pace of hiring putting the economy on a path to stronger growth.
European stocks edged lower following a drop in commodity-related stocks, although the benchmark index remained on track for its best weekly performance since the middle of December.
Wockhardt stock gains up to 7 percent after German regulator issued European Union Good Manufacturing Practice certificate to the company’s Ankleshwar facility in Gujarat.
TCS an IT giant in pain stock is almost 2.20% down on worries over a new bill for H-1B visas, on which the Indian IT sector is dependent completely.
Piramal Enterprises shares advanced as much as 3.80 percent after the company announced its plans to enter the retail housing finance market.
Natco Pharma surges up to 5 percent on USFDA approval for its Bendamustine Injections for US market. The company plans to launch its drug on 2019 along with its marketing partner Breckenridge Pharmaceutical Inc in the USA market.
State Bank of India to lead among state-run lenders in the row of digitalization and cashless economy announces to launch branch less banking and SBI Digi Bank, something similar done by Citi and DBS Bank elsewhere in the world.
Ashok Leyland, a Hinduja Group company has announced that it will increase prices of its products by 65000-1.25 lakh.
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