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Key benchmark indices corrected on Friday, following four sessions of broad gains. The Nifty slipped below 12,100 mark. Negative global cues spoiled investor’s sentiment. At close, the Sensex was down 164.18 points or 0.40% at 41141.85, while Nifty was down 51.60 points or 0.43% at 12086.40.

Among sectors, auto, energy and infra ended lower, while buying witnessed in the pharma, IT, metal and FMCG.

Global Markets  

Hong Kong Airlines will slash 400 jobs and cut operations given weak travel demand because of the coronavirus outbreak, adding to financial woes for the city’s second-largest carrier. European shares slipped slightly from all-time highs on Friday, as the rising death toll from the coronavirus outbreak and the pace of the spreading infection dulled sentiment.European stocks benchmark STOXX 600 (STOXX) fell 0.2%.Stock Snippets

Wipro bagged multi-year strategic IT deal from Marelli.

BEML Unveils Latest Products at DEFEXPO 2020.

Dr Reddy’s Laboratories announced the launch of Trientine Hydrochloride Capsules USP, 250 mg approved by the US Food and Drug Administration (USFDA).

Adani Enterprises share price rose 2 percent on February 7 after Airbus India and Adani Defence & Aerospace signed a Memorandum of Understanding (MoU) at DefExpo 2020 to leverage synergies in aerospace and civil aviation sector.

Strides Pharma Science’s step‐down wholly‐owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has entered into a definitive asset transfer and licensing agreement with Pharmaceutics International, Inc.(Pii) to acquire 18 ANDAs for the US market.

State Bank of India announced a 5 basis points reduction in its MCLR across tenors, effective February 10. This is the ninth consecutive cut in MCLR by the bank in the current fiscal.

Global Markets

Asian markets fell in morning trade on Friday. China’s trade data, which is due later in the day, is expected to generate some focus as investors tried to assess the potential economic impact of the virus outbreak in China.China’s Shanghai Composite lost 0.6%.

Japan stocks were lower after the close on Friday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower. The Nikkei 225 lost 0.19%.

Australia stocks were lower after the close on Friday, as losses in the Energy, Resources and Materials sectors led shares lower. The S&P/ASX 200 declined 0.38%

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