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The market ended with steep losses amid broad based selling pressure. The Nifty ended below the 11,100 mark. Banks and auto shares witnessed major selling. The Nifty 50 index fell 108.60 points or 0.97% to 11,080.60, as per the provisional closing data. Except IT, all other sectoral indices ended in the red. Investors awaiting developments from U.S.-China trade talks this week in Shanghai as well as monetary policy decisions from major central banks.  

Global Markets

China’s Huawei Technologies’ revenue in the first half of the year grew 23.2% faster than a year ago, despite an intense U.S. campaign against it that ultimately became a trade ban from mid-May. European shares slipped on Tuesday as grim forecasts from German giants Bayer and Lufthansa soured sentiment. European stocks STOXX 600 (STOXX) lost 0.4%.

Stock Snippets

Dr. Reddy’s Laboratories announced the launch of Pregabalin Capsules a therapeutic equivalent generic version of Lyrica (pregabalin) Capsules approved by the US Food and Drug Administration (USFDA).

Dilip Buildcon Limited has been declared L-1 bidder for the project involving construction of Kharkai Dam at Icha with all control gates and its allied works including civil, mechanical (with Design of Gates), electrical and SCADA system under SMP in the state of Jharkhand.

Shares of Coffee Day Enterprises tanked 20% in early trade today as news of founder VG Siddhartha who has been missing since Monday evening broke out.

Strides Pharma arm entered JV with China’s Sihuan Pharma.

IOC has made alternate arrangements for sourcing oil to maintain supplies after US sanctions on Iran.

Indiabulls Housing Finance will issue an offer to all Debenture holder(s) for pre-mature redemption of the NCDs held by them at par.

Global Markets

Asian stocks rose in morning trade on Tuesday ahead of monetary policy decisions from major central banks.

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 added 0.43%.

China’s Shanghai Composite and the Shenzhen Component gained 0.7% and 1.1% respectively

Australia stocks were higher after the close on Tuesday, as gains in the Gold, Utilities and Telecoms Services sectors led shares higher. The S&P/ASX 200 rose 0.28% to hit a new all time high

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