Benchmark indices traded lower on the last trading session of the week on account of weak global cues as investors fear regarding the uncertain policies of Donald Trump the newly elected President of USA. Further, demonetization move by the government dampened investor sentiment especially with fast moving consumer goods and consumer discretionary sectors to have a impact in the short term. The nifty ended the session to close at 8328.The market witnessed selling pressure all round the sectors.
Global Markets Update
BMW wants to boost sales of electric cars by two-thirds next year to 100,000 vehicles as the luxury automaker is offering more battery-powered models.
European shares fell on Friday as commodities stocks fell along with metal and oil prices, while stocks exposed to emerging markets slumped on concern that U.S. President-elect Donald Trump will introduce protectionist trade policies.
Reliance Infrastructure Q2 net profit grew 33.8% stood at Rs 570.5 crore against Rs 426.3 crore for the same quarter last year. Total income from operation during the quarter declined to Rs 6972.8 crore against Rs 7560.8 crore compared on yearly basis.
Tata Steel posted weak quarter second numbers as reported a consolidated net loss of Rs 49.38 crore against net profit of Rs 5609.43 compared on yearly basis. Total consolidated income of the steel giant rise marginally to Rs 27471.15 crore against Rs 27456.30 crore.
Indiabulls Real Estate moved higher by 6 percent in intraday on NSE after the board will meet on November 24, to consider buyback of equity shares.
Mahindra & Mahindra Ltd has informed that the Board of Directors of the company at its meeting held on November 11, 2016, has approved the appointment of T N Manoharan, as an Additional Director of the company who would be an Independent Director, with effect from November 11, 2016.
Hindalco surged by a whopping 256.3 percent to Rs 439.7 crore against Rs 123.4 crore. Total income was flat which stood at Rs 9561.9 crore from Rs 9561.2 crore compared Y-o-Y.
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