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Market Snippet

Benchmark indices traded volatile on the fourth trading session of the week on account of movement seen in both the direction. However, the global sentiments remained subdued ahead of European Central Bank and Bank of England policy meet.The investors are now eyeing on the RBI policy due next week. Nifty closed the session at 8743.95.

The Pharma stocks were the gainers for the day while Auto stocks were the losers of the day.



Global Markets Update

Samsung Electronics will launch a mobile web payments service for all smartphones based on Android OS in South Korea. The announcement comes as Samsung seeks to boost its services offerings in a search for new growth.

The Fed held interest rates steady in its first meeting since President Trump took office, shows the upbeat picture of the U.S. economy suggesting it was on track to tighten policy this year.



Tata Motors posted a 1percent fall in total sales in January at 46,349 units compared to 47,035 units in the same month last year. Domestic sales of Tata Motors’ commercial and passenger vehicles remained flat at 41,428 units in January over the same month of the previous year.

Marico Ltd’s Q3 revenue for the quarter came in 3.8 percent. EBITDA for the quarter came in 1.2 percent lower and lastly, net profit for the quarter came in 1percent lower than the estimates.

Glenmark Pharmaceuticals Ltd December quarter profit doubles. Reported consolidated net profit of 4.77 billion rupees and Net sales 24.63 billion rupees. Overall growth for the organization has been bolstered due to the strong performance by US formulation business.

Apollo Tyres posted 6 percent increase in consolidated net profit to Rs 296 crore for the December quarter, riding on robust sales across domestic and overseas markets.

Strides Shasun Ltd receives USFDA tentative approval for fingolimod capsules. The product can be launched on generic market formation expected in Feb 2019 with potential 180-day exclusivity.

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