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Market Snippet
Markets continued the selling for the sixth straight session too followed by gaped down opening tracking the global equities markets. Global equities fell after White House economic adviser Gary Cohn, announced his departure. Nifty ended the session to close at 10171.55.
FMCG shares were the major gainers of the day while PSU banks were the major losers of the day.

Global Markets Update
European shares traded lower on Wednesday after the resignation of Donald Trump’s economic adviser Gary Cohn, seen as a bulwark against protectionist forces within the U.S. government. The pan-European STOXX 600 index fell 0.5%.
Essar Steel’s sale is facing a fresh delay, after creditors of the insolvent firm pushed back a decision on bids from ArcelorMittal and a consortium backed by VTB Group.





Stock Snippets

Edelweiss Retail Finance Ltd (ERFL), the retail lending arm of Edelweiss Group, on Wednesday announced a public issue of non-convertible debentures (NCDs) of face value Rs 1,000 each, aggregating Rs 250 crore.

Shares of ICICI Bank slumped over 3% as the bank’s senior officials were summoned by the Serious Fraud Investigation Office (SFIO) with regard to the PNB scam. It is the sixth straight session of fall for the stock and has slumped 12.75 per cent since February 26.

Shares of Gitanjali Gems plunged by another 5% as the CBI tightened the noose on PNB offenders by arresting the vice president of Gitanjali Group of Companies.

Havells India, has unveiled a range of water purifiers capable of handling new age pollutants. These purifiers maintain the pH balance in water and add various essential minerals and trace elements lost during the reverse osmosis (RO) process.

Auto component maker Sandhar Technologies has received capital markets regulator Sebi’s go- ahead to float an initial public offer.

Global Markets

Philippines stocks were higher after the close on Wednesday, as gains in the Banking & Financials, Industrials and Holding Firms sectors led shares higher. At the close in Philippines, the PSEi Composite rose 0.53%.

Japan stocks were lower after the close on Wednesday, as losses in the Paper & Pulp, Transport and Construction sectors led shares lower. At the close in Tokyo, the Nikkei 225 declined 0.73%

Australia stocks were lower after the close on Wednesday, as losses in the Consumer Staples; Energy and Healthcare sectors led shares lower. At the close in Sydney, the S&P/ASX 200 lost 1.01%.

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