Benchmark indices traded lower on the third trading session of the week ahead of FOMC meeting outcome as investors are very much of the opinion this time that FED will increase the interest rate. Meanwhile the retail inflation fell to a two-year low of 3.63 per cent in November following the Centre’s demonetization drive that led to lower consumer spending on various food items including vegetables. Nifty ended the session to close the session at 8204.
The IT stocks were the major gainers of the day while auto shares were the major losers of the day.
Global Markets Update
European Markets declined on Wednesday as investors are remained alert ahead Federal Reserve’s monetary policy decision which is widely expected to reduce its interest rates for the first time in one year.
Alphabet’s Google Inc is looking forward to hire more conservatives for its policy arm under the supervision of President-elect Donald Trump.
Geometric shares gains and its fresh high on NSE after the company said the Bombay High Court has sanctioned the scheme of arrangement and amalgamation amongst Geometric, HCL Technologies, 3DPLM Software Solutions and their respective shareholders and creditors.
ONGC shares decline ahead of the stock go for ex-bonus in the ratio of 1:2. The stock price will factor in the issuance of bonus shares tomorrow i.e. on Thursday, December 15, 2016 to the existing investors.
Lupin announced that it has received final approval for its Desoximetasone Ointment USP, 0.05% from the USFDA (United States Food & Drug Administration) to market a generic version of Taro Pharms North’s Topicort Ointment, 0.05%.
Mastek shares rallied more than 14 percent today after the information technology solution provider on Tuesday said its board approved the acquisition of 100% stake in Trans American Information Systems for Rs 12.5 crore.
Wockhardt gains after the company said the UK health regulator has confirmed that its Daman-based manufacturing facility complies with GMP (good manufacturing practices).
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