GLOBAL MARKETS ROUNDUP
The S&P BSE Sensex surged over 100 points in trade on Friday despite muted trend seen in other Asian markets. The rally in the index was led by gains in Lupin, Sun Pharma, M&M, Bajaj Auto and ONGC.
The market has opened flat as the Sensex is up 37.59 points at 27983.39 and the Nifty is down 4.80 points at 8440.10. About 372 shares have advanced, 141 shares declined, and 75 shares are unchanged.
INDIAN ADR’S NEWS
• Indian ADRs ended mostly higher on Thursday.
• In the banking space, ICICI Bank was up 0.03 percent at USD 10.40.
• HDFC Bank fell 0.17 percent at USD 61.65.
• In the IT space, Infosys gained 0.05 percent at USD 15.96.
• Wipro added 0.11 percent at USD 12.16.
• In the other sectors, Tata Motors dipped 0.21 percent to USD 34.35.
• Dr Reddy’s Laboratories gained 0.36 percent at USD 55.95.
INDIAN MARKET NEWS
India plans to phase in cash transfers of food and kerosene subsidies from September, saving 10-15 percent of the$21 billion in annual outlays on the benefits by eliminating fraud, a senior finance ministry official said on Thursday.India services PMI to be released at 10:30 a.m. (0500 GMT).Finance Minister Arun Jaitley and Minister for Rural Development Birender Singh will release the New Socio-Economic and Caste Census (SECC) at 10.30 a.m.India foreign exchange reserves to be released at 1130 GMT.
ONGC, Lupin, HDFC, Tata Steel and BHEL are top gainers in the Sensex while Dr Reddy's, NTPC, TCS, Axis Bank and HUL are among major losers.
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