In a steady session of trade, domestic bourses logged strong gains. Local stocks saw an upbeat start on positive Asian stocks and stock extended gains in mid morning trade. Strong buying frenzy in index heavyweights propelled the key index to fresh intraday high. Though, indices trimmed gains in mid session and moved in small range in late trade. The Nifty 50 gained 74.90 points and settled the session at 11023.20. PSU Banks were the major gainers of the day and Realty sector were the major losers of the day.
A buoyant media sector following a new bid for British pay-TV firm Sky (L:SKYB) drove European shares higher on Thursday, helping them stabilize after heavy losses in the previous session when fears of an escalating trade war hit markets.The region’s media index (SXMP) rose more than 1 percent in early trading with Sky up 2.7 percent after US-based Comcast (O:CMCSA) submitted a $34 billion bid.
Sun Pharmaceutical Industries said that its wholly-owned subsidiary, DUSA Pharmaceuticals, filed trade secret misappropriation and tortious interference claims in an ongoing patent infringement lawsuit against Biofrontera Inc.
Power Grid Corporation announced that its subsidiary, Powergrid Warora Transmission, secured through tariff based competitive bidding (TBCB), has successfully put the elements into commercial operation progressively from November 2016 and the entire project put into commercial operation by 10 July 2018.
Cadilah Healthcare limited has received the final approval from the USFDA to market Zolmitriptan Tablets, 2.5 mg and 5 mg. It is used to treat migraines.
Cipla’s subsidiary has signed an agreement to fully acquire South Africa’s Mirren (Pty) Ltd for a cash consideration of South African Rand 450 million.
L&T share prices advanced 1.9% after the company annunciated that the Water & Effluent Treatment Business of L&T Construction has won orders valued Rs 2388 crore.
China stocks were higher after the close on Thursday, as gains in the Technology Hardware & Equipment, Technology and Software & Computer Services sectors led shares higher. At the close in Shanghai, the Shanghai Composite rose 2.18%
Australia stocks were higher after the close on Thursday, as gains in the Healthcare, IT and Financials sectors led shares higher. At the close in Sydney, the S&P/ASX 200 added 1.00%.
Taiwan stocks were higher after the close on Thursday, as gains in the Electronic Parts/Components, Biotech & Medical Care and Electricity sectors led shares higher. At the close in Taiwan, the Taiwan Weighted rose 0.58%.
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