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Domestic benchmark indices snapped three-day rising streak due to weak global cues. The Nifty settled below 11,900 mark. Shares came under pressure in afternoon trade after outgoing Finance Minister Arun Jaitley said that he has decided not to take up any active responsibility in the new government due to his poor health. In a letter to the Prime Minister, Jaitley said he had orally informed Modi about his desire to not be a part of the new BJP government so that it enabled him to concentrate on his treatment and health.

Global Markets

Nissan Motor Co’s premium brand Infiniti is relocating its headquarters back to Japan from Hong Kong, its home since 2012, to create “more operational efficiencies. European shares slipped on Wednesday, as Chinese newspapers warned Beijing was ready to use its supply of rare metals in an increasingly bitter trade dispute with the United States. European STOXX 600 index sank 0.9%.

Stock Snippets

Tata Consultancy Services has signed a new strategic partnership with Scandinavia’s leading airline, SAS, the flag-carrier of Sweden, Norway and Denmark.

Shares of Bharti Airtel dropped 2 percent after promoter group firm Bharti Telecom reduced their holding to 41.24 percent.

 Ramco Systems has won the Aviation ERP modernization program from Société Calédonienne de Transports Aériens.

Maruti Suzuki recently laid the foundation stone for a 5 MW Solar Power plant at the Gurugram facility. The captive solar power plant is expected to be commissioned in FY 2019-20.

IRB Infra Developers said in the filing that Hapur Moradabad Project received an appointment date from the competent authority.

DHFL clarified on the news of look-out notice issued against promoters stating that the promoters have not received any kind of such communication.

Global Markets

Japan stocks were lower after the close on Wednesday, as losses in the Gas & Water, Transport and Fishery sectors led shares lower. The Nikkei 225 lost 1.22% to hit a new 1-month low.

China’s Shanghai Composite and the Shenzhen Component both fell 0.3%. Hong Kong’s Hang Seng Index dropped 0.6%.

Australia stocks were lower after the close on Wednesday, as losses in the Industrials, Consumer Discretionary and A-REITs sectors led shares lower. The S&P/ASX 200 declined 0.69%.

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