Key equity indices rose for third consecutive session as geopolitical tensions between India and Pakistan appeared to be easing.After opening higher, indices pared gains in morning trade. Benchmarks firmed up once again in mid-morning trade and were trading near the day’s high in early afternoon trade. Indices turned range bound at higher levels in afternoon trade. Barometers hit fresh intraday high in late trade. The Nifty ended above the psychologically important 11,000 mark.Pharma sector were major gainer and Media sector were major loser of the day.
Tesla’s upcoming vehicle assembly facility in Shanghai is expected to be completed in May this year; the facility expects to start up production on some of its manufacturing lines by the end of the year. European shares stalled as weak results from the troubled autos sector dragged the market down and investors’ confidence in a rally that has sent stocks shooting up this year showed signs of fraying, the STOXX 600 dipped 0.1 percent.
ITC has taken a price hike of 7% to 14% in select brands; namely, Bristol, Flake Excel and Capstan.These brands together contribute 10-13% to the total sales of ITC.
Shares of Bharat Forge declined 2% after media reports suggested that North American Class 8 orders for February dropped for the second consecutive month in 2019 16,700 units.
L&T Construction has secured orders from Bangalore Metro Rail Corporation Limited for the design and construction of Phase – 2 works.
Grasim Industries signed a definitive agreement with Soktas India Pvt Ltd. for an enterprise value of Rs165cr.
Bharti Airtel rose 0.80% after the company announced collaboration with Zoom Video Communications, Inc., to launch India’s first high quality Unified Communications service offering, an integrated and secure platform for High Definition (HD) audio, video and web conferencing.
Wipro stock will trade ex-bonus (1:3) from today. Revised market lot for Futures & Options contracts would be 3,200.
Japan stocks were lower after the close on Wednesday, as losses in the Chemical, Petroleum & Plastic, Shipbuilding and Rubber sectors led shares lower. The Nikkei 225 declined 0.60%.
Asian stocks continued to deliver a mixed performance on Wednesday afternoon, as Chinese stocks picked up momentum to trade higher. The Shanghai Composite Index was up 1.03%.
Australia stocks were higher after the close on Wednesday, as gains in the Gold, Metals & Mining and Resources sectors led shares higher. The S&P/ASX 200 rose 0.75% to hit new 6-months high.
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