Extending the gains for sixth straight session, domestic stocks erased intraday losses to eke out modest gains in a highly volatile session of trade.Global stocks followed Wall Street lower Tuesday, as markets around the world retreated in the face of slowing economic growth and rising political uncertainty while investors looked to the US Federal Reserve monetary policy decision due on Wednesday.The Nifty 50 gained 20.35 points and settled the day at 10908.70. Media sector were the major loser and PSU banks were the major gainers of the day. Global Markets
Asian share markets sank on Tuesday as heightened worries about a slowing global economy sent Wall Street stocks skidding to their lowest levels in more than a year.A profit warning from ASOS (LON:ASOS), a previously high-flying UK online-clothing retailer, shocked investors, sending U.S. consumer discretionary shares down 2.8 percent Stock Snippets
Graphite India rose 1.4% after the company said its Bengaluru graphite electrode plant received ‘Consent for Operations’ from Karnataka State Pollution Control Board for a period up to 30 June 2020 only with condition to shift the unit from the existing location.
Bombay Dyeing has given its consent by signing the shareholder’s resolution of its subsidiary in Indonesia i.e. PT Five Star Textile Indonesia (PTFS) for closure of the same.
Lupin announced that it has received approval for its Clobazam Tablets, 10 mg and 20 mg from the USFDA to market a generic version of Lundbeck Pharmaceuticals, LLC’s Onfi Tablets, 10 mg and 20 mg.
Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Fluocinolone Acetonide Oil, 0.01% (Ear Drops), a generic version of DermOtic Oil, 0.01% (Ear Drops), of Hill Dermaceuticals, Inc.
Tata Motors-Jaguar Land Rover hired Boston Consulting Group for $3.2bn turnaround plan.
Taiwan stocks were lower after the close on Tuesday, as losses in the Oil, Gas & Electricity and Electronic Products Distribution sectors led shares lower. At the close in Taiwan, the Taiwan Weighted declined 0.70%.
Australia stocks were lower after the close on Tuesday, as losses in the Energy, IT and Healthcare sectors led shares lower. At the close in Sydney, the S&P/ASX 200 lost 1.22%
China stocks were lower after the close on Tuesday, as losses in the Real Estate Investments & Services, Financials and Oil Equipment Services & Distribution sectors led shares lower. At the close in Shanghai, the Shanghai Composite fell 0.82%.
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