Benchmark indices traded lower on the last trading session of the week amid mixed global cues and remained strictly range bound. Markets are expected to remain range bound for couple of coming trding session till the next big trigger hits as the major events like RBI monetary policy and FOMC meeting outcome is gettting factored in.Nifty ended the session to close at 8146.50.
IT stocks were the major gainers of the day while Metal shares were the loosers for the day
Global Markets Update
MetLife Inc expects higher U.S. interest rates to add USD300 million to operating profits through 2019. Insurance giant from NYC, United States has forecasted an earning bump of USD 45 million next year followed USD 105 and 150 million by 2019.
European stocks declined on Friday, as investors continued to digest the Federal Reserve’s most recent policy decision and eyed the release of final euro zone inflation data due later today.
Reliance Infrastructure Ltd has filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The proposed issue size is Rs 3,000 crore with an option to retain over-subscription up to 25 percent. Stock slipped percent 1.94 to close at Rs 487.
Aurobindo Pharmaceuticals Ltd hits nine month low on intraday, declining almost 3 percent, after it was named in a lawsuit alleging it collusion with other drug makers for price fixation. The lawsuit was filed in the US District Court for the District of Connecticut by 20 US states, also named Heritage Pharmaceuticals Inc, a company owned by India’s Emcure Pharma Ltd. Stock closed at Rs 690.
Bharat Heavy Electricals Limited (BHEL) has bagged order for the supply of 118 sets of IGBT-based Traction Converters for 3 Phase 6,000 HP Locomotives. The order has been placed on BHEL by Chittaranjan Locomotive Works (CLW). Stock closed lower at Rs 122.75 losing 2.07 percent.
A2Z Infra Engineering Ltd surged 2.14 percent on intraday, after the company has bagged DMRC project worth Rs 39 crore. Stock closed at Rs 42.70, ending its gains with 1.43 percent.