The benchmark indices ended with significant losses on Wednesday. The Nifty 50 index fell below the 11,850 level. Sentiment was affected due to weak domestic economic data and negative global cues.
On macro front, as per the Index of Industrial Production (IIP), factory output contracted 4.3% in September 2019 as compared to September 2018. The contraction was mainly due to poor performance in the manufacturing sector.
Chinese e-commerce giant Alibaba Group is poised to launch a Hong Kong share sale expected to raise up to $13.4 billion as soon as Thursday. European shares retreated from four-year highs on Wednesday, as a highly anticipated speech by U.S. President Donald Trump gave no new clues on the progress of a trade deal with China, and as anti-government protests in Hong Kong raged on, denting sentiment.STOXX 600 index fell 0.2%.
KEC International has secured new orders of Rs 2,255 crore across its various businesses.
Lupin to sell entire stake in Japanese arm Kyowa Pharma to Plutus at enterprise value of ¥57.4 billion.
TCS announced an expansion of its long-term partnership with Phoenix Group, Europe’s largest life and pension’s consolidator, to drive the growth and transformation of the Standard Life business and meet the future needs of its customers, workplace clients and their advisers.
UltraTech Cement Middle East Investments Limited (“UCMEIL”), a wholly-owned subsidiary of UltraTech Cement Limited, situated in the United Arab Emirates has entered into a binding agreement with HeidelbergCement Bangladesh Limited for divesting its entire shareholding in Emirates Cement Bangladesh Limited (‘ECBL’) and Emirates Power Company Limited (‘EPCL’).
Trident Limited has been granted a patent for ‘Apparatus and Method for treating an industrial Effluent containing Sodium Sulphate by Indian Patent Office, Government of India.
Japan stocks were lower after the close on Wednesday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower.The Nikkei 225 lost 0.85%.
Australia stocks were lower after the close on Wednesday, as losses in the Utilities, Financials and Resources sectors led shares lower.The S&P/ASX 200 lost 0.81%.
China’s Shanghai Composite fell 0.2% by while the Shenzhen Component slipped 0.1%.
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