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The domestic equity market surged higher ahead of June F&O expiry due this week although the global markets peers remained hit by Iran tension. Nifty fut opened lower and gained the momentum in afternoon trading to close higher at 11810.30.

The stocks leading the positive pack were NTPC, Reliance, PowerGrid, Mahindra & Mahindra and ONGC while the scrips trading in red were Yes Bank, L&T, Asian Paints, Sun Pharma and IndusInd Bank.

Global Markets

Vonovia will continue to grow via acquisitions though it does not see major potential now, its chief executive said, adding that the property company did not need to revise its profit forecast due to Berlin’s planned rent freeze.European shares were spooked by Iran tensions and trade jitters on Tuesday, while the risk of more dovish talk from the Federal Reserve inflated gold to six-year highs. European STOXX 600 index dipped 0.13%.

Stock Snippets

Oil-to-telecom conglomerate Reliance Industries (RIL) on Tuesday said it has signed pacts with overseas lenders to avail long-term loans of $1.85 billion (about Rs 12,900 crore) to finance its capital expenditure.

Visaka Industries Limited, plans to increase its capacity from 1, 70,000 MT to 2, 20,000 metric ton (MT) by investing ₹100 crore using internal accruals for the new plant.

Drug firm Alembic Pharmaceuticals on Tuesday said it has received approval from the US health regulator for Oseltamivir Phosphate capsules, used for treatment of influenza infection.

Piramal Enterprises said it is looking at selling its entire 20 per cent stake in Shriram Capital. The move would be “part of the long-term strategy of the company to fund growth of its financial services business.

Global Markets

Japan stocks were lower after the close on Tuesday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower.The Nikkei 225 fell 0.58%.

Australia stocks were lower after the close on Tuesday, as losses in the Utilities, IT and Industrials sectors led shares lower.The S&P/ASX 200 fell 0.11%.

China’s Shanghai Composite and the Shenzhen Component fell 1.6% and 1.1% respectively.

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