Morning Bulletins for Stock Market Trading | 28 Nov.

Domestic key benchmark indices ended with modest gains backed by firmness in IT pivotals and index heavyweight Reliance Industries. Market participants were cautious ahead of the expiry of futures and options (F&O) contracts on Thursday and the release of India’s gross domestic product data for the September quarter on Friday.
The Nifty 50 gained 57 points and settled the day at 10685.60. IT sector were the major gainer and Pharma sector were the major loser of the day.

Global Markets
European shares fell after a new threat by Washington to impose duties on more Chinese imports, whereas Thomas Cook shares fell 30 percent to a six-year low, putting the stock on track for its biggest one-day drop since end 2011, failed on a profit warning. Tele2 rallied for a second day, up 7.5 percent, following report that the European Commission was set to approve without conditions the sale of its Dutch business toDeutsche Telekom.

Stock Snippets

Sun Pharma acquired 100% stake in Japan based-Pola Pharma for $1mn, giving it commercial presence in Japan’s dermatology segment. Further, its arm entered into settlement in the Modafinil Anti-Trust Litigation in the US.
Suzlon Energy has completed sale of Tornado to CLP, and accordingly, Tornado has ceased to be the company’s subsidiary.
IFCI received Rs491.84cr via NCLT based on the resolution passed by Binani Cements.
Nava Bharat Ventures and its arm signed a contract with Tata Power Trading for power supply of 125MW to Telangana State Grid.
Cadila Healthcare has received a final approval from the US Food & Drug Administration (USFDA) to market Baclofen Tablets (US RLD- Lioresal®), 10 mg and 20 mg.
Tech Mahindra has bagged an order worth Rs270cr for IT modernization project from Coal India.

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