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Benchmark indices ended the volatile day on flat note with Nifty closed below 10,900, while Sensex finished near day’s low point. On the macro front, trade deficit narrowed in December 2018, government data released after market hours yesterday, 15 January 2019 showed. The trade deficit declined to Rs 92497 crore in December 2018 compared with Rs 95594 crore in December 2017. The Nifty 50 gained 3.50 points and settled at 10890.30. PSU Banks were major gainer and Media sector were major loser of the day.

Global Markets

Overseas, most Asian stock markets were trading higher supported by positive sentiment to China signaling more stimulus measures to come, including larger tax cuts, amid concerns of a slowdown in the world’s second-largest economy. US stocks snapped a two-session skid Tuesday, as a robust tech rally offset lackluster results from major US banks, including Dow-component JPMorgan Chase & Co.

Stock Snippets

Tata Consultancy Services has been named a Leader for the third consecutive time, in the Nelson Hall NEAT for Mortgage and Loan (M&L) BPS Services.

Texmaco Rail & Engineering has received an award of order valuing Rs. 110 crore for design, manufacture, supply, installation, testing and commissioning of Automatic Fare Collection System (AFC) from Mumbai Metro Rail Corporation.

Fortis Healthcare draws loan from Citi Bank worth Rs1,100cr for financing the contractual commitments and strategic objectives of the company.

Dr. Reddy’s Laboratories received four Form 483 observations from USFDA inspection on formulations plant in Andhra Pradesh.

M&M share price rose 0.05%. Automobili Pininfarina GmbH (‘APF’), a wholly owned subsidiary of Mahindra Automotive Mauritius (‘MAML’) which in turn is a wholly owned subsidiary of M&M, has acquired 100% of the membership interests in Harkey Acquisition, L.L.C., USA on 15 January 2019.

Global Markets

Japan stocks were lower after the close on Wednesday, as losses in the Shipbuilding, Chemical, Petroleum & Plastic and Mining sectors led shares lower. At the close in Tokyo, the Nikkei 225 lost 0.55%.

China stocks were mixed after the close on Wednesday, as gains in the Media, Real Estate Investments & Services and Electricity sectors led shares higher while losses in the Telecoms, Mobile and Technology Hardware & Equipment sectors led shares lower. At the close in Shanghai, the Shanghai Composite added 0.01%.

Australia stocks were higher after the close on Wednesday, as gains in the IT, Telecoms Services and Consumer Staples sectors led shares higher. At the close in Sydney, the S&P/ASX 200 gained 0.35% to hit a new 1-month high.

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