Key equity indices corrected after gains in past four trading sessions. Profit selling emerged after private weather forecaster, Skymet, predicted below normal monsoon rains this year.Indices opened higher and hit fresh intraday high in morning trade amid positive global cues. Indices sharply pared gains in mid-afternoon trade and hit fresh intraday low in late trade.The Nifty 50 lost 69.25 points and settled at 11643.95. All the sectorial indices ended in negative zone among them PSU Banks and media sector were major loser of the day.
KEA will expand tests to allow customers to rent desks and sofas rather than buy them as it shifts away from selling low-cost disposable furniture in response to growing environmental concerns. European shares rose for the fourth straight session on Wednesday, as investors took heart from further signs of recovery in China and progress toward a possible trade deal between Beijing and Washington. European index rose 0.7%.
Zydus Cadila informed that it has received a tentative nod from the US health regulator to market its Mirabegron extended-release tablets.
Lupin announced receipt of the Establishment Inspection Report (EIR) from the US health regulator for its Pithampur unit in Madhya Pradesh
Tata Power said it has signed a pact with Indraprastha Gas Limited (IGL) for setting up rooftop solar projects in the country.
Jet Airways said that additional 15 aircraft have been grounded due to non-payment of dues to lessors.
Dr. Reddy’s Laboratories through its wholly owned subsidiary Promius Pharma announced sale and assignment of the US rights for its marketed dermatology brands to Encore Dermatology.
Wipro completed the divestment of its workday and cornerstone on-demand business to Alright Solutions, receiving $95.27 million out of the total $100mn.
Japan stocks were higher after the close on Wednesday, as gains in the Transport, Fishery and Transportation Equipment sectors led shares higher. The Nikkei 225 rose 0.97%.
Asian stocks advanced in morning trade on Wednesday following reports that China and the U.S. are moving closer to a trade agreement. China’s Shanghai Composite and the Shenzhen Component edged up 0.1%. Hong Kong’s Hang Seng Index was up 0.9%.
Australia stocks were higher after the close on Wednesday, as gains in the Metals & Mining, Materials and Resources sectors led shares higher. The S&P/ASX 200 added 0.68%
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