Benchmark indices traded higher on the first trading session of Jan F&O expiry as the foreign fund inflow amid mixed global cues kept the domestic equities higher. The next big trigger for the market is going to be Govt’s fiscal budget as it will pave the way for further development of economy. Nifty ended the session to close at 10556.90. Media shares were the major gainers of the day while Metal shares were the losers of the day.
Global Markets Update
Global stocks were little changed on the final trading day of 2017 Friday but most stock markets are set to finish this year with gains.
Japan’s Nikkei share average erased early modest gains and ended slightly lower on its final trading day of the year on Friday, but the index still gained nearly 20 percent in 2017.
Shares of Lupin surged as it has received final approval from USFDA for Calcipotriene Topical Solution. The company has received final approval for its Calcipotriene Topical Solution, 0.005% (Scalp Solution) from the United States Food and Drug Administration (USFDA) to market a generic version of Dovonex Scalp Solution, 0.005% of Leo Pharmaceutical Products.
Reliance Communications (RCom) zoomed 30% after Mukesh Ambani-led Reliance Jio said it will acquire RCom’s mobile business assets including spectrum, mobile towers and optical fibre network of the company.
Shares of Tata Global Beverage touched 52-week high of Rs 318, as it has sold stake in its associate company. The company through a share sale and purchase agreement has divested 31.85 percent stake (1,20,78,406 shares) in the joint venture company Estate Management Services (EMSPL) for a consideration of Rs 120 crore.
Cadila Healthcare a wholly owned subsidiary named Zydus Pharmaceuticals (USA) Inc has received the final approval from the US Food and Drug Administration (USFDA) to market Clomipramine Hydrochloride capsules USP.
Indonesia stocks were higher after the close on Friday, as gains in the Miscellaneous Industry, Infrastructure and Manufacturing sectors led shares higher.
European stocks steadied on Friday, the final trading day of 2017, and were set to record their strongest year of gains since 2013 thanks to a surge among tech stocks and a robust resources sector.
Taiwan stocks were higher as gains in the Electricity, Plastic and Semiconductor sectors led shares higher.
Major markets in Asia were narrowly mixed on the last trading day of the year following the moderately higher close seen stateside. Meanwhile, copper prices held onto gains to trade near a four-year high.
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