The stocks of Britannia Industries Ltd., Tata Technologies Ltd., Avenue Supermarts Ltd. and Kotak Mahindra Bank Ltd. will be in focus after it announced its quarterly earnings. In addition, Godrej Consumer Products Ltd., Lupin Ltd., as well as CG Power and Industrial Solutions Ltd. will be in the spotlight as it announces its quarterly results.
Vodafone Idea Ltd. said it supports increase in tariffs marketwide, as a rise in the prices would help to generate reasonable returns and boost further investments.
The National Stock Exchange Ltd. will issue four bonus shares for each stock held by eligible shareholders. The bonus shares will be issued based on necessary approvals, the company said in a statement on Friday.
Wall Street took a slowdown in the US jobs market as an indication that the Federal Reserve will be able to start cutting rates as early as September, with traders sending stocks up sharply as bond yields fell, Bloomberg said.
The S&P 500 index and Nasdaq 100 rose by 1.13% and 1.91%, respectively, as on 12:15 p.m. New York time. The Dow Jones Industrial Average gained by 1.13%.
Brent crude was trading 0.48% lower at $83.27 a barrel. Gold fell 0.35% to $2,295.77 an ounce.
India’s benchmark stock indices reversed early gains to end lower on Friday on profit-booking and caution ahead of US non-farm payroll data. Heavweights Reliance Industries Ltd., Larsen & Toubro Ltd., and HDFC Bank Ltd. dragged the indices lower, limiting the weekly gains in both the NSE Nifty 50 and S&P BSE Sensex.
The Nifty 50 ended 172.35 points, or 0.76%, lower at 22,475.85, and the Sensex fell 732.96 points, or 0.98%, to close at 73,878.15.
Overseas investors remained net sellers of Indian equities for the second consecutive session on Friday. Foreign portfolio investors offloaded stocks worth Rs 2,392 crore and domestic institutional investors stayed net buyers for the eighth day and mopped up equities worth Rs 690.5 crore, according to provisional data from the National Stock Exchange.
The Indian currency strengthened by 3 paise to close at Rs 83.43 against the US dollar.