Daily Stock Trading tips & News Updates

Domestic stocks dropped in volatile session of trade led by slide in HDFC Bank, Infosys and ICICI Bank.Profit booking emerged after domestic stocks logged strong gains yesterday, 20 May 2019 to settle at record high after most exit polls forecast a majority for the ruling BJP-led NDA in Lok Sabha polls. Elections were held for 542 seats. A party or coalition needs 272 seats in parliament to form a government. The counting of votes is slated for May 23.The Nifty lost 119.15 points and settled at 11709.10. All the sectorial indices ended in red zone.

Global Markets

Home Depot Inc missed Wall Street estimates for quarterly same-store sales on Tuesday, hurt by poor weather in February and a steep fall in lumber prices. European shares edged higher on Tuesday after the United States temporarily eased restrictions on China’s Huawei, easing trade tensions and lifting tariff-sensitive tech and auto stocks, while the banking sector also gained. European STOXX 600 index was up 0.4%.

Stock Snippets

ICICI Bank signs the pact with the BSE and IFSC to acquiring a 9.9% stake in India International Clearing Corporation (GIFT City).

Alembic Pharma has received approval from the USFDA for its Abbreviated New Drug Application (ANDA) Solifenacin Succinate Tablets, 5 mg, and 10 mg.

Vedanta declared as the preferred bidder for two Copper blocks in Chandrapur district, Maharashtra.

Shares of Jet Airways rallied 9% after reports made round that Hinduja Group is finally set to bid for the grounded airline this week.

Dr Reddy’s Bachupally FTO-3 unit gets clearance from German body

Indiabulls Housing launches maiden dollar bond today for USD 300 million

Glenmark Pharmaceuticals Inc., USA has been granted final approval by the USFDA for Solifenacin Succinate Tablets.

Global Markets

Japan stocks were lower after the close on Tuesday, as losses in the Machinery, Electrical/Machinery and Precision Instruments sectors led shares lower. The Nikkei 225 fell 0.14%.

China shares won some respite on Tuesday after Washington temporarily eased trade restrictions imposed last week on China’s Huawei. China’s blue-chip CSI300 index jumped 1.4%.

Australia stocks were higher after the close on Tuesday, as gains in the Financials, A-REITs and Gold sectors led shares higher. The S&P/ASX 200 gained 0.37% to hit a new 5-year high.

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