Markets traded lower on the last trading session of the week along with its other Asian peers as the rising bond yield in US economy brought back global rout in equities around the globe. Nifty ended almost a percent lower at 10469.70.
Metal shares were the major gainers of the day while banking stocks were the major losers of the day.
Global Markets Update
China’s Ant Financial is planning to raise up to $5B in fresh equity that could value the online payments giant at more than $100B.n which Alibaba is taking a one-third stake, a step closer to a hotly anticipated initial public offering by establishing a more current valuation. European markets traded mixed on Friday, moderately affected by an overnight rout in U.S. and Asia equities amid continuously high bond yields and following news of another U.S. government shutdown.
State-owned oil refiner Hindustan Petroleum Corp Ltd‘s profit rose 22.6 per cent in the third quarter, beating estimates.Profit rose to Rs 19.50 billion compared with Rs 15.90 billion a year earlier.
Mahindra & Mahindra has agreed to sell 22 per cent of its stake in joint venture firm Mahindra Sanyo to Sanyo Special Steel Co Ltd for Rs 146.32 crore.MSSSPL is a joint venture between M&M, Sanyo Special Steel Co Ltd Japan and Mitsui & Co Ltd Japan.
Drug firm Jubilant Life Sciences today said its subsidiary has received final approval from the US health regulator for Amantadine Hydrochloride tablets, an anti-viral and anti-Parkinsons drug.
Shares of Steel Authority of India (SAIL) gained 7 percent intraday Friday as company turned profitable in the quarter ended December 2017.The Company posted a net profit of Rs 43 crore in Q3FY18 against the loss of Rs 794.84 crore, in a year ago period.
ESL has picked up a minority stake in gaming firm Nazara Technologies Ltd for an undisclosed amount.
Japan’s Nikkei share average tumbled on Friday after another torrid day for Wall Street, with oil-related stocks leading the broad declines as crude prices slumped.
Philippines stocks were lower after the close on Friday, as losses in the Property, Holding Firms and Industrials sectors led shares lower.At the close in Philippines, the PSEi Composite fell 1.64% to hit a new 1month low.
China stocks ended lower to post a third consecutive session of losses on Thursday, with the benchmark Shanghai index hitting a six-month low, even as data showed the country’s trade performance in January exceeded expectations.
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