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Key equity benchmarks witnessed steep selling pressure Wednesday, dragged by metal and banks stocks. The Nifty came under pressure as soon as it broke the 11,000-mark. It managed to close above 10,900 level, however. At close, Nifty was down 98.30 points at 10,918.70. All the sectoral indices ended lower led by the metal, PSU bank, energy, infra, FMCG, auto, pharma and IT. 

Global Markets

Noble Group Holdings plans to rebuild its liquefied natural gas (LNG) and core energy businesses and develop rare earths as it seeks new life as a niche, European stocks opened higher on Wednesday as hopes for more monetary and fiscal stimulus helped assuage worries about global recession, political turmoil in Italy and endless trade wars. The Euro STOXX 600 was 0.6% higher.

Stock Snippets

Zydus Cadila has received the final approval from the USFDA to market Ranolazine ExtendedRelease Tablets (US RLD— Ranexa ”9), 500 mg and 1.000 mg.

Shares of Housing Development and Infrastructure (HDIL) touched its 52-week low of Rs 8.78, falling 20 percent on August 21 after NCLT admitted the company under the Insolvency Bankruptcy Code, 2016 (IBC).

Dr Reddy’s Labs: US FDA completed audit of Duvvada formulations manufacturing plant with 8 observations.

Shares of NMDC fell over 1 percent on August 21 after Karnataka government withdraw the approval to extend the mining lease.

Nestle India is likely to be included in the Nifty from October 2019 following changes in the eligibility criteria for inclusion of stocks in the index, brokerages have said

HCL Technologies announced the opening of a new delivery centre in Hamilton, New Zealand.

Global Markets

Japan stocks were lower after the close on Wednesday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower.The Nikkei 225 fell 0.28%.

China’s Shanghai Composite and the Shenzhen Component were down 0.2% and 0.3% respectively

Australia stocks were lower after the close on Wednesday, as losses in the Metals & Mining, Materials and Resources sectors led shares lower.The S&P/ASX 200 lost 0.94%.

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