Jackson Hole Meet; Depreciating Rupee; Top Stocks In Focus Today

On Friday, Indian share markets settled marginally lower on Friday weighed by financials and consumer stocks amid caution in global markets.

The S&P BSE Sensex ended at 38,252, down 85 points while the broader Nifty 50 index settled at 11,557, down 26 points.

Among key stocks, Yes Bank and ICICI Bank were among the top losers on the BSE, falling 3.5% and 2%, respectively.

The Indian rupee along with emerging Asian currencies weakened against the US dollar on Friday as prospects for a quick resolution of the US-China trade war faded after two days of talks ended with little progress.

Top Stocks in Focus

Cadila Healthcare share price will be in focus as the US Food and Drug Administration (USFDA) has completed an inspection at Cadila Healthcare's Biologics manufacturing facility (Zydus Biologics) located at the Zydus Biotech Park in Ahmedabad.

Meanwhile, Lupin has received the Establishment Investigation Report (EIR) from USFDA for the successful inspection of its Nagpur facility.

Vedanta share price will hog limelight as it is planning to expand its alumina refinery at Lanjigarh in Odisha to 6 million tonnes per annum by 2021. The company will use alternate bauxite resources as it looks beyond the failed Niyamgiri experiment.

Shares of Axis Bank will create buzz on the news of the management change at the bank. According to a report in The Economic Times, Amitabh Chaudhry of HDFC Life is likely to be the successor to Shikha Sharma, Axis's current CEO and MD.

To know more, check out our share market updates here.

Global Stock Market Drivers

Stocks in Europe edged higher on Friday alongside US equity-index futures after a mixed session in Asia as trade negotiations with China drew a blank. The dollar slipped before an address from Federal Reserve Chairman Jerome Powell.

Investors hoping for good news on global trade were left disappointed after the US talks with China ended with increasing the likelihood that tit-for-tat tariffs will escalate, casting a shadow over the global-growth outlook.

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