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Key equity benchmarks ended lower after a volatile trading session as the Union Budget failed to lift sentiment. The Nifty, which traded above 11950 in morning session, ended near 11,800 mark. Bond yields declined after finance minister Nirmala Sitharman, in her maiden budget today, said that India’s sovereign external debt to GDP is among the lowest globally at less than 5%. The Government would start raising a part of its gross borrowing programme in external markets in external currencies.

Global Markets

South African retailer Steinhoff’s Philip Dieperink will step down as chief financial officer and will be replaced by Theodore de Klerk effective Sept. 1. U.S. stocks were lower after the close on Friday, as losses in the Healthcare, Consumer Goods and Basic Materials sectors led shares lower. The Dow Jones Industrial Average declined 0.16%, while the S&P 500 index fell 0.18%, and the NASDAQ Composite index declined 0.10%.

Stock Snippets

L&T Finance Holdings: Company will receive $550 million in an ECB investment round anchored by IFC, a member of the World Bank Group, and BNP Paribas, Citibank, and DBS Bank Limited.

GMR Infrastructure: Group sold entire stake of 47.62 percent in GMR Chhattisgarh Energy to Adani Power.

Maruti Suzuki: Competition Commission of India orders probe against company

Yes Bank acquired 9.47% stake in Eveready Industries as the bank invoked pledge of 68.8 lakh shares on July 3.

DHFL has sold one of its crucial commercial properties DHFL House in the Andheri suburb of Mumbai to the promoters of Charak Pharma for Rs121cr, way below its current market price.

Hindalco will have to tackle European antitrust objections on its plan to buy aluminium producer Aleris Corporation to expand as a supplier to the car industry.

Tata Motors has decided to implement periodic production cuts at its passenger-car plants and focus on retail sales.

Bharat Financial Inclusion board filed a certified copy of NCLT order to Registrar of Companies on the scheme of merger of the company with IndusInd Bank.

Global Markets

Canada stocks were lower after the close on Friday, as losses in the Materials, Healthcare and IT sectors led shares lower. The S&P/TSX Composite fell 0.28%.

Sweden stocks were lower after the close on Friday, as losses in the Technology, Industrials and Consumer Goods sectors led shares lower. The OMX Stockholm 30 declined 1.05%.

Netherlands stocks were lower after the close on Friday, as losses in the Healthcare, Financials and Consumer Services sectors led shares lower. The AEX fell 0.54%.

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