Domestic bourses opened higher and breifly hit fresh intraday high in early trade. As the day progressed, profit booking emerged at higher levels and selling intensified in later trade. Though, Volatile trading session, Indices ended with losses as investors turned cautious ahead of the Karnataka assembly elections on 12 May 2018. Higher crude oil prices also weighed on sentiment. Energy sector were the major gainers of the day while Pharma sector were the major losers of the day.
Global Markets Update
European shares traded flat with bearish biasness as a flurry of company results rolled in with losses in BT following a disappointing update and weighed down further by a weakness among utilities stocks. Apple has sent out a note to developers of iOS apps stating that they need to quickly upgrade to iOS 11. Adding a mandatory requirement for all apps on its App Store to be compatible with the iPhone X’s display.
Yesterday, Cipla announced that it has entered into an exclusive marketing and distribution agreement with US-based MannKind Corporation for Afrezza in India.
The Ministry of Civil Aviation has not approved the Scheme of Merger of Jet Airways with Jet Lite (India).
Stock split in the ratio of 1:2 and issue of bonus shares in 1:2 ratio is approved by Avanti Feeds.
Federal Bank reported a 44 per cent fall in net profit in the March quarter, mainly due to a sharp rise in provisions for bad loans. This resulted in drop down of 10% in share prices of Federal Bank.
On Wednesday, Tariffs hovered at Rs 2.79-2.80 per unit at NTPC’s latest auction for 750 MW at Ananthapuram Solar Park in Andhra Pradesh.
For the fourth quarter ended March 31, The Asian Paints is likely to post a double-digit rise in top line as well as bottom line figures.
On Day 1, Indostar Capital Finance subscribed 41%.
Japan stocks were higher after the close on Thursday, as gains in the Fishery, Banking and Glass sectors led shares higher. At the close in Tokyo, the Nikkei 225 added 0.39%.
Taiwan stocks were higher after the close on Thursday, as gains in the Electronic Parts/Components, Trading & Consumer Goods and Oil, Gas & Electricity sectors led shares higher.At the close in Taiwan, the Taiwan Weighted gained 0.53%
Philippines stocks were higher after the close on Thursday, as gains in the Banking & Financials, Services and Property sectors led shares higher.At the close in Philippines, the PSEi Composite gained 0.21%.
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