Benchmark indices traded volatile on the last trading session of the week to end lower at 11307.20. The trade war tension is still driving the market into negative territory as the US has escalated the situation by increasing the tariff on Chinese products from 10% to 25%. Nifty still looks weak on daily chart.
PSU Bank shares were the major gainers of the day while Metals shares were among the major losers for the day.
Shares in Japanese conglomerate SoftBank Group Corp tumbled 5.5% on Friday, a day after one of its biggest tech bets, Uber Technologies, priced its initial public offering at the low end of the targeted range. European shares rallied on Friday, recovering slightly from six week lows as investors hoped that United States and China would still be able to resolve their bitter trade dispute, the STOXX 600 index added 0.9%.
Tata Motors-owned Jaguar Land Rover (JLR) on Friday reported 13.3 per cent decline in total retail sales at 39,185 units in April.
Bajaj Auto on Friday launched a new version of its Avenger Street 160 model equipped with anti-lock braking system (ABS) priced at Rs 82,253.
Welspun Corp Limited, the flagship firm of the Welspun Group on Friday said its board will meet next week to consider buyback of shares.
Gillette India reported 23 per cent rise in profit after tax (PAT) for the March-quarter at Rs 87.76 crore helped by increased productivity and cost efficiency.
Suzuki Motor Corporation on Friday forecast a 1.7 per cent rise in profit for this year, anticipating limited growth due to an expected sales tax rise in Japan and uncertainty in India’s economic outlook.
Japan stocks were lower after the close on Friday, as losses in the Shipbuilding, Transportation Equipment and Marine Transport sectors led shares lower. The Nikkei 225 lost 0.27% to hit a new 1-month low.
Australia stocks were higher after the close on Friday, as gains in the Utilities, Gold and Telecoms Services sectors led shares higher.The S&P/ASX 200 added 0.25%.
China’s stocks rebounded and the yuan fluctuated before the U.S. raised tariffs on $200 billion worth of Chinese imports.The Shanghai Composite Index climbed 1.5%