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The market ended steeply lower, after data last week showed India’s gross domestic product (GDP) growth moderated to 5% in Q1 June 2019. The Nifty opened below 11,000 mark and extended losses as the session progressed. Selling exacerbated in the last hour of the trade, which dragged the barometer below 10,800 mark. India’s gross domestic product (GDP) growth moderated to 25-quarters low of 5% in Q1 of 2019-20 from 5.8% growth recorded in the previous quarter and 8% improvement in the corresponding quarter last year. 

Global Markets

GFG Alliance has delayed a planned A$1 billion ($675 million) listing of parts of its Australian Liberty Steel unit until at least next year as a result of market volatility. Global stocks slipped toward a recent two-month low on Tuesday, as U.S.-China trade tensions drove investors to the relative shelter of gold, the Japanese yen and government debt. European STOXX 600 index STOXX declined 0.39%.

Stock Snippets

L&T on Tuesday said its construction arm has bagged the contract for construction of the Navi Mumbai International Airport.

Share price of Dewan Housing Finance Corporation (DHFL) rose 3.5 percent on September 3 after company approved to convert whole or part of the debt into equity.

Share price of Tata Motors shed 4 percent on September after company’s total sales for August 2019 stood at 32,343 vehicles, compared to 62,688 units during August 2018.

Escorts share price fell 5 percent on September 3 as company’s agri machinery segment sold 4035 tractors in August 2019 against 4812 tractors in August 2018.

Reliance Power signed a partnership agreement with JERA for jointly setting up 750 MW gas based combined cycle power project (Phase—1) at Meghnaghat, Bangladesh.

Zydus has received marketing authorization for TwinrabTM (RabiMabs) from the Drug Controller General of India.

Global Markets

Japan stocks were higher after the close on Tuesday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher.The Nikkei 225 gained 0.02%.

Australia stocks were lower after the close on Tuesday, as losses in the Telecoms Services, Utilities and Consumer Discretionary sectors led shares lower.The S&P/ASX 200 lost 0.09%.

Hong Kong’s Hang Seng Index continued along its downward trend at the opening but recovered from mild sessions early in the morning session. The index was up 0.13%

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