Essence of Friday Market Movements & Tracking

Friday Market Movements

Friday Market Movements: Benchmark indices were trading in flat during the pre opening market. During market opening 15 share advanced and 32 share declined in Nifty. Sensex opened 36213 and Nifty 10663.ICICI Bank, Axis Bank, HDFC Bank, are some of the major losers on the indices, while gainers are Yes Bank, Wipro, TCS, M&M and Hero Motocorp. Among sectors, except IT and auto, other indices are trading in the red

In world stock market SGX nifty was trading flat in the market opening session, and asian shares were also struggling. US manufacturing data was weaker and expectation of federal reserve to cut data was contributed. US index S&P 500 was also trading weaker ahead of the data.

Stocks in News today:

  • Maruti Suzuki India today announced to undertake a recall composition for Wagon R vehicles  manufactured between November 15, 2018 and August 12, 2019.
  • Indian largest bank State Bank of India today announced further rate cut in fixed deposit rates. Earlier to this it had cut the rates 30-70 basis points. This time it cuts rate of 10-50 basis points today.
  • In spot market, gold neared Rs 39,000 on Thursday, extending its record run. Silver prices however showed some weakness as September futures were down 0.15% on MCX. A weak rupee, which today slid past 72 a US dollar, also supported gold price India as the country imports bulk of its requirement.
  • USA has been granted final approval by the United States Food & Drug Administration (USFDA) to Glenmark Pharmaceuticals Inc., for Fulvestrant Injection, 250 mg/5 mL (50 mg/mL).
  • Kennametal India slips 5% for june quarter consolidated result. The profit was up 57 percent to Rs 21.5 crore versus Rs 13.7 crore in the quarter ended March 2019.

Friday market movements in the afternoon session; the benchmark indices recovered from low because of the buying seen in the metal, IT, PSU banking stocks. Indian Rupee was at record low ahead of global slowdown. It was trading lower against dollar to 8 months low. Till the closing time Sensxed was 228 points up at 36701 and Nifty was trading 10841 about 100 points up.

Today, there was mixed sentiment in the market. At the opening time the market was opened in red but it recovered in the noon session. And bench mark indices closed in green.