The market declined for fifth straight trading session after the International Monetary Fund (IMF) cut its annual growth forecast for the country. Continous selling by foreign portfolio investors for the past few days also spoiled sentiment. Firm crude oil prices also raised concerns of higher inflation and fiscal slippage. The Nifty closed below 11300 mark for the first time since 16 May 2019. Among the sectors, metal index slipped over 2 %, followed by auto, energy, infra, IT and pharma. Midcap index was down 1.5%, while Smallcap index shed over 1%.
Deutsche Bank reported a bigger than forecast quarterly loss of 3.15 billion euros, underlining the challenges it faces as it attempts to turn around its struggling business.European stock market which paused ahead of a critical European Central Bank decision.The Stoxx Europe 600 SXXP, 0.29% dropped 0.2% to 390.62. The U.K. FTSE 100 UKX, fell 0.8%.
SEBI granted renewal of recognition to Multi Commodity Exchange Clearing Corporation Limited (MCXCCL), a wholly owned subsidiary of MCX, for a period of three years, to act as a clearing corporation.
TVS Motor (Singapore) Pte. a wholly-owned subsidiary of TVS Motor has signed definitive agreements to invest USD7 million in Scienaptic Systems Inc.
Bosch to suspend all manufacturing operations at Naganathpura plant, Karnataka on Jul 27 & 29 to align with demand
Shares of Mahindra & Mahindra Financial Services (Mahindra Finance) plunged 15 per cent to hit their 52-week low in Wednesday’s trade, a day after it posted poor results for the June quarter.
UPL Corporation, the international arm of UPL, has arranged financing of EUR 100 million to meet working capital requirements across the group.
Zydus Cadila announced the Day I launch of Ramelteon Tablets, 8 mg upon receiving the final approval from the USFDA.
Japan stocks were higher after the close on Wednesday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher.The Nikkei 225 added 0.41%.
China’s Shanghai Composite and the Shenzhen Component both gained 1.2%. Hong Kong’s Hang Seng Index rose 1.0%.
Australia stocks were higher after the close on Wednesday, as gains in the Telecoms Services, Industrials and Financials sectors led shares higher.The S&P/ASX 200 gained 0.77% to hit a new 5-year high.
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