Key benchmark indices logged strong losses for second day in a row weighed by slide in index pivotals Reliance Industries, Infosys and TCS.Domestic stocks began trading on a negative note on subdued Asian indices. Key indices extended recovery in mid-afternoon trade as European stocks edged higher in early trade. Stocks extended fall in late trade on fresh selling in index pivotals. The Nifty 50 lost 56.15 points and settled the day at 1600.05. Pharma sector were the major gainers and IT sector were the major losers of the day.
European shares rose on Wednesday as Italian banks rebounded on hopes Rome could compromise with Brussels over its budget plans and the battered tech sector recovered following a widespread sell-off on worries over iPhone demand. The STOXX 600 rose 0.5%. U.S. chipmaker Nvidia Corp has signed separate deals with Chinese electric vehicle startups XPeng Motors to develop autonomous driving technology.
Suzlon Energy completed sale of two arms to Canadian Solar. The total consideration received for both companies stood at Rs54.53cr.
Minda Corp share prices surged 8% as the company has entered into definitive agreements with its joint venture partner Furukawa Group for change in the equity structure of Minda Furukawa Electric Pvt Ltd.
Lupin announced the launch of Tetrabenazine Tablets, 12.5 mg and 25 mg having received an approval from the USFDA earlier.
Rajesh Exports will be executing the order from its manufacturing facility, which has a processing capacity of 250 ton of jewelry and gold products per annum.
Adani Gas Ltd, the city gas distribution arm of the Adani Group, has bagged authorization from the Petroleum and Natural Gas Regulatory Board (PNGRB) to expand its city gas footprint in 13 new Geographical Areas (GAs) in the recently concluded 9th round of CGD bidding.
Japan stocks were lower after the close on Wednesday, as losses in the Chemical, Petroleum & Plastic, Mining and Insurance sectors led shares lower. The Nikkei 225 declined 0.35%. China stocks were higher after the close on Wednesday, as gains in the Travel & Leisure, Real Estate Investments & Services and Retailers sectors led shares higher. The Shanghai Composite added 0.21%, while the SZSE Component index climbed 0.37%. Taiwan stocks were lower after the close on Wednesday, as losses in the, Oil, Gas & Electricity and Cement sectors led shares lower. The Taiwan Weighted declined 0.03%.
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