The market witnessed steep selling in the last hour of trade led by weakness in metal and banks stocks. The Nifty 50 index slipped below 11,650 mark. Gains in the HDFC twins were offset by losses in Reliance Industries and TCS. Global shares declined after media reported Wednesday that trade negotiations between US and China are at an impasse over restrictions on Chinese tech giant Huawei. Meanwhile, Asian Development Bank on 18 July 2019 lowered India’s GDP growth forecast to 7% for the current year on the back of fiscal shortfall concerns.
Anglo American posted a 2% rise in second quarter output and reaffirmed full-year production targets, boosted by a restart of operations at its Brazilian iron ore mine and higher volumes of coking coal.European stocks traded lower on Thursday, with the German DAX down 0.8% as SAP reported that trade tensions weighed on its second-quarter results.
NMDC: Karnataka High Court allows plea for Donimalai mining operations and set aside order on Donimalai royalty pay to Karnataka.
Oil India emerged as the biggest winner of oil & gas blocks under Open Acreage Licensing Policy (OALP) rounds II & III by winning 12 blocks out of 32 blocks for which bids were submitted by leading Operators.
Torrent Pharmaceuticals shares fell more than 6% after the US drug regulator classified the inspection conducted at its Dahej facility in March as Official Action Initiated (OAI).
BHEL has won an order for emission control equipment from Bhartiya Rail Bijlee Company Limited (BRBCL), a joint venture of NTPC Ltd. and Indian Railways.
Reliance Industries said subsidiary Reliance Brands completed the acquisition of 100% stake of Hamleys Global Holdings Ltd through a special purpose vehicle company set up in the United Kingdom for cash consideration of £67.96mn.
Japan stocks were lower after the close on Thursday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower. The Nikkei 225 lost 1.97%.
Australia stocks were lower after the close on Thursday, as losses in the Energy, Resources and Utilities sectors led shares lower. The S&P/ASX 200 lost 0.36%.
Chinese stocks extended losses after U.S. President Donald Trump said there is still a long way to go before Washington and Beijing could make a trade deal, while threatening to impose more tariffs on Chinese goods. The Shanghai Composite and the Shenzhen Component were down 0.6% and 0.9% respectively.
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