Domestic bourses inched higher in choppy trade session today supported by buying in OMC and Pharma stocks. However global cues remained wary as the US imposes more tax tariff on China in a continue trade war scenario. Nifty settled marginally higher at 10352.85.
Pharma and OMC stocks were the major gainers of the day IT stocks were the major losers of the day.
Global Markets Update
European markets slipped lower for a second day after China unveiled new tariffs against U.S. products, increasing concerns of an escalating trade standoff between the two countries. Germany’s supermarket group Edeka has dropped more of Nestle’s products in an escalation of a pricing row between the world’s biggest packaged food maker and European retailers.
Indian Oil Corporation Limited has acquired a 17 per cent participating interest in the Mukhaizna Oilfield, Oman, through its wholly owned Singapore subsidiary.
FMCG major Dabur India has completed acquisition of two South Africa-based companies D&A Cosmetics Proprietary Ltd and Atlanta Body & Health Products Proprietary Ltd through its subsidiary.
Zydus Group’s personal care and wellness arm, Zydus Wellness Ltd, is looking at promising acquisition deals in India and abroad in the personal care and health food segments.
Lupin has received an Establishment Inspection Report (EIR) from the US health regulator for its Pithampur Unit 1 manufacturing facility in Madhya Pradesh.
Jet Airways finalizes deal for 75 Boeing 737 Max planes worth $8.7 billion.
Dalmia Bharat Group has entered into a joint venture with Europe based Seven Refractories to develop and supply a range of advanced monolithic refractory material.
Indonesia stocks were lower after the close on Friday, as losses in the Miscellaneous Industry; Financials and Infrastructure sectors led shares lower. At the close in Jakarta, the IDX Composite Index declined 0.13%.
Japan stocks were lower after the close on Friday, as losses in the Gas & Water; Fishery and Shipbuilding sectors led shares lower. At the close in Tokyo, the Nikkei 225 lost 0.36%.
Philippines stocks were lower after the close on Friday, as losses in the Property, Banking & Financials and Industrials sectors led shares lower. At the close in Philippines, the PSEi Composite lost 0.95%.
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