On Friday, Indian share markets ended on a strong note supported by broad gains across sectors after economic data from the US boosted bets that Fed may be less hawkish than expected.

Benchmark indices extended their gains as the session progressed and shot up during the closing hours, following strong gains by index heavyweight Reliance Industries.

Both the benchmark indices - BSE Sensex and NSE Nifty are trading very close to their all-time high levels.

At the closing bell, the BSE Sensex stood higher by 467 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 138 points (up 0.7%).

Bajaj Finserv, Titan, and ITC were among the top gainers today.

Wipro, TCS, and Power Grid on the other hand were among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

The SGX Nifty was trading at 18,902, up by 142 points, at the time of writing.

Broader markets ended on a positive note. The BSE Midcap index ended 0.7% higher while the BSE SmallCap index gained 0.8%.

Sectoral indices ended on a mixed note with stocks in the finance sector, banking sector, and capital goods sector witnessing most of the buying.

While IT stocks and realty stocks witnessed selling.

Shares of AIA Engineering and Hindustan Aeronautics hit their 52-week highs today.

Shares of Ramkrishna Forgings and Titagarh Wagons surged up to 8% and hit their respective record highs after their consortium won a contract to supply 1.54 million forged wheels to the government.

Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments...

Asian stock markets ended on a positive note after the Bank of Japan maintained its ultra-easy monetary policy.

The Nikkei ended the day higher by 0.6%, while the Hang Seng rallied 1%. The Shanghai Composite ended 0.6% higher.

European shares were also higher on Friday as gains were led by defensive healthcare stocks at the end of a week dominated by major central bank policy decisions.

The rupee is trading at 81.91 against the US$.

Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 59,489 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading 0.5% higher at Rs 72,473 per kg.
 

TCS & Transamerica End Partnership

Tata Consultancy Services (TCS) has ended its US$ 2 billion (bn) deal with the American arm of Dutch insurer Aegon NV's subsidiary Transamerica Life Insurance.

The 10-year deal, signed in January 2018, has come to an end as Transamerica plans to cut its dependence on third-party IT services firms such as TCS.

The IT major worked for Transamerica life insurance, annuities, supplemental health insurance, and other employee benefit products.

Transamerica was supposed to rapidly enhance its digital capabilities and simplify the service of more than 10 million policies into a single, integrated modern platform through the deal.

This development comes at a time when TCS is starting a slowdown. This makes it a challenging start for chief executive K. Krithivasan, who only took over as the boss on 1 June 2023 after his predecessor Rajesh Gopinathan resigned.

As a part of TCS's January 2018 agreement with Transamerica, the IT major hired about 2,000 people who were formerly employed by Transamerica in the US.

Tata Consultancy Services (TCS) is a bright shining star in the galaxy of Tata Group companies.

TCS has been one of the favorite stocks of investors because of the performance it has delivered since its listing.

If you had invested Rs 1 lakh in TCS shares at the issue price of Rs 850 in the IPO in 2004, the value of that investment today would be around Rs 3,176,000, a return of almost 3,000% by August 2022.

With strong fundamentals, it stands among the 5 best long-term companies of 2023.
 

IKIO Lighting Soars on Debut

Shares of IKIO Lighting made a stellar debut on the bourses on Friday as they listed at Rs 392.5 on NSE, a premium of 37.7% or Rs 107.5 over the issue price of Rs 285.

The stock got listed at Rs 391 on BSE, up 37.19%, as against the offer price. Ahead of the listing, the shares were commanding a premium of around Rs 99 in the unlisted market.

The net proceeds from the public offer will be used to repay borrowings, invest in its subsidiary IKIO Solutions for setting up a new facility in Noida, and other general corporate purposes.

The Rs 6.1 bn IPO, with a fresh issue of Rs 3.5 bn and an offer of sale (OFS) of 90 lakh equity shares, had received tremendous a response from investors, making it one of the most successful primary market issues of the year.

The issue was subscribed to a whopping 67 times. While the qualified institutional buyers (QIBs) category subscribed 163.5 times, the portion for non-institutional investors received 63.3 times bids, and the retail investors' quota got subscribed by 13.8 times.

IKIO Lighting designs develops, manufactures, and supplies products to customers under their own brands.
 

NATCO's Generic Lonsurf Gets USFDA Approval

Natco Pharma on Friday received final approval for its Abbreviated New Drug Application (ANDA) for Tipiracil Hydrochloride and Trifluridine Tablets (generic for Lonsurf) from the US Food and Drug Administration (USFDA).

Lonsurf is sold in the US by Taiho Oncology.

Natco believes it is one of the first to file for the product and may be eligible for a 180-day exclusivity period at the time of launch.

Lonsurf is indicated primarily for the treatment of colorectal cancer. As per IQVIA data, Lonsurf had generated annual sales of US$ 211 million (m) in the US during the twelve months ending December 2022.

More By This Author:

Sensex Today Trades Higher, Nifty Above 18,750
Sensex Today Ends 311 Points Lower; IT Stocks Drag
Sensex Today Trades Flat; Poly Medicure Rallies 8%