Sensex rises 323 pts, Nifty closes at 10491; Metal, Pharma stocks rally

The domestic indices ended 1% higher on Friday taking cues from the global markets. The S&P BSE Sensex ended at 34,142, up 323 points while the broader Nifty50 index settled at 10,491, up 108 points.

Among sectoral indices, the Nifty Metal index ended nearly 3% higher on Friday led by a rise in the shares of Jindal Steel & Power, Tata Steel and National Aluminium Company. The Nifty Pharma index also ended over 2.5% higher led by surge in the stocks of Sun Pharmaceutical Industries and Divi’s Laboratories.

Sun Pharmaceutical Industries turned volatile, trading 3.5% higher at Rs 561 on the BSE at 02:34 pm on Friday, after the company said the US Food and Drug Administration (USFDA) issued Form 483, with three observations, for its Halol facility in Gujarat.

Siemens dipped 3% to Rs 1,159 in intra-day trade on Friday, extending its 4% fall on Thusday, in otherwise firm market after the company said its board approved to sell its mobility division and rail traction drives business.

Jubilant Life Sciences has slipped 11% to Rs 883 on the National Stock Exchange (NSE) in intra-day trade on Friday after more than 7% of the total equity of pharmaceutical company changed hands on the NSE and BSE till noon deal. The exchanges data showing that a multiple block deals executed on the counter in early trade.

Dynamatic Technologies has surged 16% to Rs 1,875 on the BSE in intra-day trade after the company announced that its board will meet on Wednesday, February 28, 2018 to consider and approve de-merger of auto division.

NBCC has signed a Memorandum of Understanding (MoU) with Department of Economic Affairs, Ministry of Finance, Government of India for construction of housing project for India Economic Services (IES) officers at Deen Dayal Upadhaya Marg, New Delhi, wherein NBCC will work as project management consultant at 7 percent fees.

Federal Bank has bought 26 percent stake in Equirus Capital, in a bid to broaden their product offerings to corporate & small and medium enterprise (SME) clients.

Shares of Merck, KSB Pumps and ITD Cementation India added 3-5 percent intraday Friday on the back of strong third quarter numbers. Merck has posted 42 percent increase in its Q3FY18 net profit at Rs 27 crore and revenue was up 22 percent at Rs 304 crore.

Here are some picks from the week gone by.