Domestic bourses ended with modest loss after US Federal Reserve’s interest rate hike. After a dull opening, indices firmed up and hit fresh intraday high. In mid-morning trade indices reverse the trend and hit fresh intraday low in late trade.
Metal sector were the major gainers and PSU Banks sector were the major losers.
Global Markets Update
Europen market continues its southwards journey after FED increases rate by 0.25% as expected. All sectors are trading in negative territory as European STOXX 600 index was lower by 0.70% in early trade. Whereas, Asian markets closed mixed as impact of FED rate hike and all markets shows choppy session throughout the day. Also central bank indicates two more hikes in 2018.
According to a Mint report, Reliance Communication has received bondholders’ approval for asset monetization plan.
Sun Pharmaceutical Industries rose 2.14% after the company got approval from US drug regulator for a psoriasis treatment drug.
On Wednesday, BHEL announced that it has entered into technology collaboration agreement (TCA) with HLB Power, Republic of Korea.
Oil India upsurge 2.41% after the company signed agreement with Government of Assam and Assam petro-Chemicals for formaldehyde and methanol project.
By NHAI, Dilip Buildcon emerge lowest bidder for EPC project of Rs 677 crore.
Developers of IRB Infrastructure has bagged the Hapur Bypass Bulid Operate Transfer project of Rs 3400 crore.
On Thursday, Cox & Kings said it has sold 11.58% stake in Prometheon Holdings UK to an investment company of SSG Capital for Rs 450 crore.
Nikkei closed in green with around 1% gain on Thursday and the broader topix gain by 0.65% where mining and oil sectors are up by 4.56% and 3.06% respectively.
Kospi index is also gain by 0.44% and closed at seven week high. Oil related and brokerages stocks support market where manufacturing stocks are struggling.
Australian market S&P/ASX200 down by 0.22% after choppy session throughout the day supported by all sectors but some gain seen in sectors like materials, energy and gold producers after Fed raised interest rate by 25 basis point.
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