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Bears took charge on the Dalal Street with the Sensex and the Nifty correcting sharply, dragged by weakness in private banks, auto and IT shares. Trading sentiment was weak after the rupee dropped to a new low amid sustained foreign fund outflows and surging crude oil prices. Market partcipants were also cautious ahead of the three-day Reserve Bank of India (RBI) policy review scheduled to begin Wednesday. The Nifty lost 150.05 points and settled at 10858.25. Auto sector were the major loser and Metal sector were the major gainer of the day.
Global Markets
Italian stocks turned from a drag into a boost for European markets on Wednesday as signs the government would target a lower budget deficit quelled investors’ fears of a damaging showdown with the European Commission. Luxury automaker Aston Martin fell as much as 6.5% on their market debut in London on Wednesday as investors and analysts raised concerns over its ability to deliver an ambitious roll-out of new models.

Stock Snippets
Dr. Reddy’s Laboratories announced that its wholly owned subsidiary Promius Pharma, LLC, has sold its rights of Cloderm® ( clocortolone pivalate) Cream, 0.1 % and its authorized generic to EPI Health, LLC, an affiliate of EPI Group, LLC.
HCL Technologies has signed a five-year managed services deal with TransGrid, a high voltage transmission network service provider for the state of New South Wales, Australia.
Gayatri Projects has bagged new order of Rs 1312 crore for construction of access controlled Nagpur-Mumbai Super Communication Expressway.
L&T has won an EPC order worth Rs3,036cr from Bangalore International Airport Limited (BIAL) to construct Terminal-2 (T2) of the Kempegowda International Airport, Bengaluru.
Eicher Motors was down 5.29% after it reported production loss of 10,000 motorcycles in September after a section of its workforce did not report to work since September 24 at its Oragadam factory near Chennai.
Hathway Cable & Datacom share prices rise 9.09% after media reports suggested that Reliance Industries has initiated talks to acquire Hathway Cable.

Global Markets
Philippines stocks were higher after the close on Wednesday, as gains in the Property, Mining & Oil and Industrials sectors led shares higher. The PSEi Composite added 1.10%.
Japan stocks were lower after the close on Wednesday, as losses in the Communication, Transport and Financial Services sectors led shares lower. The Nikkei 225 declined 0.62%.
Taiwan stocks were lower after the close on Wednesday, as losses in the , Oil, Gas & Electricity and Electronic Parts/Components sectors led shares lower. The Taiwan Weighted declined 0.51%.

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