The market declined sharply Thursday, with banking and IT stocks leading the decline. Banks stocks tumbled due of weekly expiry of Bank Nifty options. Continuous selling by foreign portfolio investors hurt trading sentiment.
The Nifty slipped below 10,800 level in morning trade and extended losses as the session progressed. The index slipped below 10,700 in afternoon trade. Minor bargain hunting in the final half hour of trade pushed the Nifty above 10,700 mark.
Toyota Motor Corp announced 1 billion reaisexpansion at a plant in the Brazilian state of Sao Paulo, joining Volkswagen and General Motors in new investments in the region.A positive start in Europe nudged the main world share indexes and bond yields higher on Thursday, after the U.S. Federal Reserve’s second interest rate cut of the year while Japan and others kept their limited remaining powder dry.
Tata Motors said the first car based on new Electric Vehicle technology, Ziptron, will be launched in Q4FY20.
TVS Motor launched the TVS NTORQ 125 Race Edition. The Race Edition now comes with signature LED DRLs and LED headlamp.
Shares of Zee Entertainment Enterprises plunged over 8 percent on September 19 following reports that the promoter had been restricted from selling its stake in the media company
YES Bank tanked close to 9 percent and was among the top Nifty loser after CARE downgraded NCDs of the bank’s promoter, MCPL.
Vodafone Idea jumped over 11 percent on September 19 after the Telecom Regulatory Authority of India (TRAI) released a consultation paper seeking a review of the deadline to bring down the interconnect usage charge to zero.
Shares of Lupin declined more than 3 percent on September 19 after company received a warning letter from the USFDA for its Mandideep (Unit- 1) facility.
Asian stocks were mixed in morning trade on Thursday after the U.S. Federal Reserve cut its key interest rate for the second time in two meetings.China’s Shanghai Composite and the Shenzhen Component gained 0.1% and 0.3% respectively
Japan stocks were higher after the close on Thursday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher.The Nikkei 225 added 0.38% to hit a new 3-months high.
Australia stocks were higher after the close on Thursday, as gains in the Telecoms Services, Utilities and Industrials sectors led shares higher.The S&P/ASX 200 added 0.54% to hit a new 1-month high.
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