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Market Snippet 

Benchmark indices traded volatile on the second trading session of the week ahead of key economic data release of consumer price index today evening and FOMC policy meet tomorrow regarding rate hike in US economy. Global sentiments were bullish and short covering helped the market to end higher. Nifty closed the session at 8223.15.

The auto stocks were the major gainers of the day while media stocks and realty stocks were the losers of the day.

Global Markets Update

Japan’s Aashi Group Holdings is set to buy five eastern European beer brands from AB In Breweries. The deal was set at prices at USD 7.3 billion, one of the largest purchases of a foreign beer operation by a Japanese brewer.

European Markets inched higher on Tuesday, ahead of US Federal reserve meet due later tomorrow. Gains were seen in Banking and Financial stocks.

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HDIL (Housing Development and Infrastructure Ltd) posted 35% fall in its September quarter net profit which stood at Rs 37.01 crore against Rs 57.1 crore for the same quarter last year. Total income tanks to Rs 223.25 crore against Rs 242.74 crore compared on yearly basis.

Glenmark shares ends on a flat to negative note on NSE today despite company’s US business has received a boost with the launch of generic version of cholesterol drug Zetia in that market.

Tata Motors today announced that it will hike the prices of its passenger vehicles by up to Rs25000 from next month in order to offset the increased input costs. Stock gains nearly 4 percent today on NSE.

Natco Pharma has launched generic Tamiflu capsules which are used for the treatment of influenza, in the American market after the final nod from the US health regulator (USFDA) in Aug 2016. Stock ends on a flat to negative note.

Sun Pharma and Israel-based Moebius Medical have entered into an exclusive worldwide licensing deal to further develop MM-II, a novel pharmaceutical candidate for the treatment of pain in osteoarthritis.

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