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The benchmark indices continue to trade northwards for the second day too despite weak global cues from Asian and European equity markets as the interest rate cut in U.S. may impact the world markets around the globe. Nifty settled bullish at 11864.40.

Metal, PSU Banks and reality were the major gainers of the day while FMCG and IT shares were the major losers of the day.

Global Markets

Chinese e-commerce giant Alibaba launched an English-language website for its Tmall marketplace aimed at merchants, in an attempt to double the number of international brands on the platform in the next three years. European shares fell for the fourth straight session as bets on an aggressive half-point cut in U.S. interest rates next month collapsed following a more measured than expected message from Federal Reserve officials.

Stock Snippets

Reliance Infrastructure on Wednesday said it has bagged the Rs 7,000-crore Versova-Bandra Sea Link project contract from the Maharashtra State Road Development Corporation (MSRDC) in Mumbai.

FMCG major Britannia Industries on Wednesday dispelled speculations over the resignation of its Managing Director Varun Berry from the company, terming the speculations as “false” as well as incorrect and baseless.

Drugmaker Lupin is embarking on a quality transformation initiative at its manufacturing plants, to train employees to take greater ownership. Four of drugmaker’s sites are facing USFDA regulatory actions.

Adani Power on Tuesday said it will acquire GMR Chhattisgarh Energy Ltd (GCEL) as the consortium of lenders has approved its resolution plan.

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 declined 0.51%.

China’s Shanghai Composite and the Shenzhen Component both dropped 0.1%

Australia stocks were lower after the close on Wednesday, as losses in the Telecoms Services, Utilities and A-REITs sectors led shares lower. The S&P/ASX 200 declined 0.26%.

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