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MARKET WRAP: Sensex recovers 300 points from day's low to settle at 35,809

All that happened in the markets today

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Benchmark indices ended marginally lower on Friday led by a decline in HDFC, HDFC Bank, Sun Pharma and Axis Bank.

The S&P ended at 35,809, down 67 points or 0.19 per cent, while the broader Nifty50 index settled at 10,724, down 22 points or 0.20 per cent. 

Among the sectorial indices, the Pharma index ended 3.1 per cent lower led a fall in Glenmark and Lupin. The Metal index settled 2.07 per cent lower weighed by JSW Steel and Welspun Corp. 

Shares of Dr Reddy’s Laboratories fell 30 per cent to Rs 1,873 apiece in the intra-day trade, also their 52-week low on the National Stock Exchange (NSE), after media reported Jefferies, in its research note, said that the Form 483 issued by US Food and Drug Administration (US FDA) to drug firm’s Bachupally plant contains four repeat observations out of the total 11 observations. The stock ended 4.17 per cent lower at Rs 2,556.

In the broader market, the S&P MidCap index ended 167 points, or 1.18 per cent lower at 13,941, while S&P SmallCap index fell 111 points, or 0.83 per cent to settle at 13,253.
Global Markets

Asian stocks fell on Friday, retreating from four-month highs after data out of China raised concerns over deflationary pressures building in the world’s second-biggest economy.
 
MSCI’s broadest index of Asia-Pacific shares outside Japan, which had scaled a four-month high midweek on factors including expectations for reduced US-China trade tensions, was down 1 per cent. The Shanghai Composite Index lost 0.8 per cent following Friday’s discouraging data. Japan’s Nikkei dropped more than 1 per cent and South Korea’s KOSPI shed 1.45 per cent.

(With Reuters input)

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