Benchmark indices traded higher breaking the three days losing streak backed by buying in index’s heavyweight shares like LT, Tata steel Ltd, continued foreign fund inflows and positive global cues supported the uptrend. Domestic sentiment was also buoyed as the Nikkei Services Business Activity Index rose to 50.9 in the month from 48.5 in Nov. Nifty closed at 10526.20. Metal shares were the gainers while Auto shares were the losers for the day.
Global Markets Update
Asian shares vaulted to 10-year highs as solid economic data from the United States and Germany reinforced investors’ optimism, while oil prices hovered at a 2-1/2-year high with unrest in Iran stoking supply disruption concerns.
A rally in European stocks picked up pace following the lead of Asian shares which hit a ten-year peak overnight, as services growth data for the euro zone confirmed a strengthening economy was bolstering corporate activity.
Public sector lender Dena Bank has invited bids to sell its 1.56 percent stake in NSDL, The stock rallied more than 4 percent after stake sale news.
NBCC secured Rs314.8cr business orders in December, which included a contract for construction of border fence and road along Indo-Bangladesh border in Meghalaya amounting Rs215.77cr at a PMC fees of 7%.
HDFC has said that it has realised Rs5,250cr profit from the IPO of its life insurance subsidiary in November 2017. It has made an additional provision of Rs1,575cr.
The Board of Directors of Idea Cellular approved issuance of 326.6 million equity shares at a price of Rs99.50 per share on preferential basis to the Promoter group entities Birla TMT Holdings Private Limited / Elaine Investments Pte. Ltd. (Singapore} / Oriana Investments Pte. Ltd. (Singapore} / Surya Kiran Investments Pte. Ltd. (Singapore).
Glenmark Pharma announced the launch of the biosimilar of Adalimumab. The drug will be marketed under the the brand name ADALY, under a licensing agreement with Cadila Healthcare Ltd.
Japanese stocks rallied on the first trading day of 2018, with the Nikkei and Topix pushing to multi-decade highs as brokerage and oil shares surged. Catching up to overseas gains after the long Japanese New Year’s holiday, the Nikkei share average finished up 3.26 percent at its session high of 23,506.33, its highest level since January 1992.
Taiwan stocks were higher after the close on Thursday, as gains in the Hotels, Oil, Gas & Electricity and Semiconductor sectors led shares higher.
Indonesia stocks were higher after the close on Thursday, as gains in the Mining, Miscellaneous Industry and Consumer Industry sectors led shares higher.
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