Benchmark indices tanked on the last trading session of the week witnessing bloodabath after the union budget 2018-19 announcement as the 10% LTCG tax hit the sentiments negatively.Nifty ended lower at 10755.85.The global cues also remained bearish.
IT shares were the major gainers of the day while realty, banking and metal shares were the major losers of the day.
Global Markets Update
Deutsche Bank AG on Friday reported a €2.2 billion ($2.7 billion) net loss for the fourth quarter and its third consecutive full-year loss, sending its shares sharply lower. The German lender suffered double-digit revenue declines in all three of its business units last quarter. European shares fell on Friday and were set for their biggest weekly loss in six months as a slump in Deutsche Bank after a bigger than expected loss hit the heavyweight banking sector.
Larsen & Toubro’s construction arm has won orders worth Rs 2,275 crore across various business segments like water and effluent treatment business, power transmission and distribution business.
Aluminium major Hindalco Industries has reported standalone profit growth of 17.2 percent year-on-year at Rs 375 crore for December quarter, driven by copper business but hit by one-time loss.Profit for quarter ended December 2016 stood at Rs 320 crore.
Two- and three-wheeler major Bajaj Auto reported lower than expected net profit for the December quarter at Rs 952.4 crore against Rs 924.6 crore year on year. The company’s revenue rose 26 percent at Rs 6,369.2 crore against Rs 5,067 crore year on ear.
Debt-laden Air India is looking at raising short-term loans to the tune of Rs 1,500 crore to meet the urgent working capital requirements.This is the third time since September that the disinvestment-bound national carrier is seeking bridge loan.
Tyre manufacturer CEAT Ltd reported a 1.74 per cent decline in its consolidated net profit at Rs 82.10 crore for the quarter ended December 2017.
Japan’s Nikkei share average fell on Friday on weakness in most sectors, with banking stocks down on worries that domestic bond yields would be kept low after the central bank conducted a special bond purchase operation to curb rising yields.
Taiwan stocks were lower after the close on Friday, as losses in the , Oil, Gas & Electricity and Plastic sectors led shares lower.At the close in Taiwan, the Taiwan Weighted fell 0.30%.
Philippines stocks were higher after the close on Friday, as gains in the Mining & Oil, Industrials and Holding Firms sectors led shares higher.At the close in Philippines, the PSEi Composite gained 0.82%.
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