The indices opened higher and trimmed gains in morning trade. Indices firmed up once again and extended gains as day progressed. Domestic bourses ended with strong gains, tracking positive leads from Asian markets and overnight gains on the Wall Street. The market sentiment was also driven by encouraging earnings releases. Metal sector were the major gainers of the day while Pharma sector were the major losers of the day.
Global Markets Update
European stocks surged on Friday to seal their longest winning streak in over three years as fresh deal-making stole the spotlight from the tail-end of a busy earnings season. Europe’s Airbus to announce whether it would go ahead with its plane deal with Tehran after President Donald Trump pulled the United States out of Iran’s international nuclear deal.
Glenmark Pharmaceuticals Inc., USA announced that the United States Food & Drug Administration (U.S. FDA) have granted it for Clobetasol Propionate Cream USP, 0.05%, the generic version of Temovate®1 Cream, 0.05%, of Fougera Pharmaceuticals, Inc.
On 10 May, announcement was made by PC Jeweller’s, board has approved the proposal for buy back of of upto 1.21 crore equity shares.
NBCC announced that it has been appointed as independent engineer for supervision of development of seven bus terminal facilities in Gujarat.
Titan reported 40.56 per cent YoY rise in net profit at Rs 282.12 crore for March quarter.
Reliance Jio Infocomm has expanded the tariff war to the postpaid segment, launching a plan named “zero touch” postpaid plan at almost half the price and with more data than those offered by its rivals.
Sunil Munjal and Anand Burman and Mohit Burman have jointly offered to invest Rs 1,800 crore in Fortis Healthcare.
Japan stocks were higher after the close on Friday, as gains in the Chemical; Petroleum & Plastic, Mining and Steel sectors led shares higher. At the close in Tokyo, the Nikkei 225 added 1.16% to hit new 3-months high.
Taiwan stocks were higher after the close on Friday, as gains in the Electricity, Plastic and Other Electronic sectors led shares higher. At the close in Taiwan, the Taiwan Weighted rose 0.92%.
Philippines stocks were higher after the close on Friday, as gains in the Banking & Financials, Holding Firms and Property sectors led shares higher. At the close in Philippines, the PSEi Composite added 2.39%
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