U.S stocks dipped on Friday - Nirmal Bang

U.S. stocks dipped on Friday, edging back from record highs as the technology sector weighed heavily a day after Microsoft and Google reported disappointing results.

Asian stocks rose, with telecom services companies leading the advance. Japanese shares swung between gains and losses as the yen gained after PM Abe's ruling coalition solidified control of parliament in elections yesterday.

Sensex on Friday gained for the third straight day by adding over 21 points to end at new 6-week high on heavy buying in software cos following robust earnings from TCS. Sharp losses in BHEL, HDFC and ICICI Bank weighed on index but good gains in IT and auto stocks like Bajaj Auto helped Sensex end in positive terrain. Though, it commenced on a promising note to touch 2-month high of 20,256.60, fag-end profit booking wiped off some initial gains. Market is expected to open on a flattish note and likely to advance during the day.

Source : Equity Bulls

Keywords