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Benchmark indices posted tiny losses on Tuesday after surging in previous two sessions. Banks and metal stocks witnessed correction after recent rally. IT stocks bounced after steep losses in the past two sessions. The Nifty jumped in early trade, but profit booking dragged the index lower in morning trade. It hit the day’s low of 11,539.20 in early afternoon trade. The 50-unit index struggled to regain momentum and traded below 11,600 for most part of the session. The Nifty firmed up in late trade and ended a tad below 11,600 mark. 


Global Markets

German insurer Allianz, Nippon Life and MS&AD Insurance are vying with rivals to buy the Singapore and Vietnam businesses of Britain’s Aviva in a deal likely to be worth up to $2.5 billion. European shares rose on Tuesday, following their worst day in over a month, after Washington said the United States and China would resume trade talks.The pan-European STOXX 600 index rose 0.3%.

Stock Snippets

Pennar Industries to double its CDW tubes capacity: The Company is doubling its Cold Drawn Welded (CDW) tubes manufacturing capacity.

Adani Enterprises (AEL) has incorporated a company namely Adani Guwahati International Airport.

CG Power and Industrial Solutions locked at 5 percent upper circuit after company got an extension from Registrar of Companies, Mumbai.

Shares of Petronet LNG gained over a percent on September 24, two days after signing a Memorandum of Understanding (MoU) with US natural gas company Tellurian Inc.

Shares of Aurobindo Pharma declined 4 percent intraday on September 24 after SEBI imposed a penalty on the company’s promoter and other connected entities for violating insider trading norms.

Shares of Reliance Industries jumped over 3 percent after foreign brokerage house Morgan Stanley maintained overweight rating with a target at Rs 1,469 per share.

Global Markets

Japan stocks were higher after the close on Tuesday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher.The Nikkei 225 rose 0.09% to hit new 3-months high.

Australia stocks were lower after the close on Tuesday, as losses in the IT, Telecoms Services and Industrials sectors led shares lower.The S&P/ASX 200 lost 0.01%. China’s Shanghai Composite and the Shenzhen Component were both up 0.6%.Hong Kong’s Hang Seng Index also gained 0.6%.

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