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Friday, 26 August 2016

FRIDAY - Daily Market Wrap Up

Highlights of the Day

  •  Abbott India reported strong performance with 10% rise in Net Profit & 16% jump in income from operations for the quarter ended 30th June 2016. The stock was up 0.62% and closed at Rs. 4731.45.
  •   J.B. Chemicals & Pharmaceuticals Ltd was one of the star performers rising 8% and closing at Rs. 366.60 gaining Rs.24.65 by the end of the day. The company reported 26% rise in its standalone Net Profit and 9% increase in income from operations in June quarter.
  •  Finolex cables reported 37% rise in Net Profit for the period ended June 30th 2016. The stock closed at Rs. 428.65 by end of the day. 
  • Finolex Industries also reported strong quarterly performance with 36% rise in PAT and 6% jump in income from operations.
  •  Nifty declined 0.23% at 8572.55 for the day with 21 advances and 30 declines. S&P BSE 30 closed down by 0.19% at 27782.25 declining by 53.66 points for the da

Major Developments  

Biocon Ltd has announced regulatory submission for proposed biosimilar trastuzumab acccepted for review by European Medicines Agency".

Market Mood   
Stock markets ended flat with midcaps outperforming on both S&P BSE & NSE. S&P Midcap rose 0.21% gaining 22.21 points whereas Nifty Midcap 50 jumped 0.34% by the end of the day. Nifty Auto was another out-performer rising 0.71% for the day. For the week as a whole S&P BSE Sensex and Nifty closed down by 0.9% and 1% respectively.   


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