Benchmark indices surged on the third trading session of the week on account of positive global cues ahead of US President-elect Donald Trump’s news conference and ahead of corporate result session starting tomorrow with TCS hitting the street first with its results. Nifty ended the session hitting the two months high at 8385.70.
The Steel and Banking stocks were the major gainers of the day while IT stocks were the losers for the day.
Global Markets Update
World stocks edged down from recent highs and the dollar steadied ahead of a news conference by U.S. President-elect Donald Trump in which he is expected to give more details about his plans for the U.S. economy.
Airbus is expecting a smoother flow of aircraft production in 2017, the plane maker’s chief executive said, after the company reported a record number of deliveries in December.
Lupin Limited shares moved higher on NSE today after company has received final approval for its Desoximetasone Cream USP, 0.05% and Desoximetasone Cream USP, 0.25% from the USFDA to market a generic equivalent of Taro Pharmaceuticals North America.
IndusInd Bank today posted better than expected December quarter numbers, net profit up 29.2 percent which stood at Rs 750.6 crore against Rs 581.02 crore for the same quarter last year. NII income as well as non-interest income boosted profitability.
Coal India shares rallied after company is nearly said to have hit its e-auction target for FY16-17 and is looking forward to delivering additional supplies.
DCB Bank shares gains after launched DCB TravelSmart – a multi currency foreign exchange card. DCB TravelSmart is for resident Indians travelling abroad.
Adani Enterprises informed regarding intimation for incorporation of a wholly owned subsidiary. The wholly owned subsidiary named, Adani Agri Logistics (Panipat) Limited (AALPL) has been incorporated on January 11, 2016; stock ends on a flat to positive note.
European shares rose on Wednesday, with retail stocks back in focus after a well-received update from British grocer Sainsbury, though Cobham tanked on disappointing profits.
Japanese stocks ticked up slightly on Wednesday with gains limited ahead of a much-anticipated press conference by U.S. President-elect Donald Trump later in the day.
Philippines stocks were lower, as losses in the Holding Firms, Services and Property sectors led shares lower.
Indonesia stocks were lower after the close on Wednesday, as losses in the Miscellaneous Industry, Infrastructure and Manufacturing sectors led shares lower.
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