In volatile session, the key benchmark indices reversed initial losses triggered by negative global cues. Indices extended gains in morning trade. Though, fresh selling at higher levels once again pulled the market in negative zone.Indices once against bounced and extended gains and hit intraday high but in late trade, once again stock retreated. Nifty ended in flat note and settled at 10948.30. IT sector were the major gainers and Metal sector were the major losers of the day.
European stocks fell on Wednesday as an escalation in the U.S.-China trade dispute looked set to bring a six-session winning streak to an end.The pan-European STOXX 600 index was down 1.1%. Glencore Plc said on Wednesday it would cooperate with U.S. authorities after they demanded documents about the mining firm’s business in Democratic Republic of Congo, zuela and Nigeria as part of a corruption investigation.
German based pharma major- Boehringer Ingelheim and Lupin announced the expansion of their partnership with plans to market two new oral anti-diabetics recently approved by the Drugs Controller General of India (DCGI) —Gibtulio Mee (Empagliflozin+ Metformin) and Ajaduo” (Empagliflozin +Linagliptin)
KEC International share prices gained 1.75% after the company said it secured new orders worth Rs 1357 crore across its businesses.
Tata Power announced that Tata Power Renewable Energy (TPREL), the Company’s wholly owned subsidiary, has received a Letter of Award from Karnataka Renewable Energy Development (KREDL) to develop 250 MW (50 MW x 5 Nos) of solar projects located in state’s Tumkur district at Karnataka.
JMC Projects (India) has executed a project with Engineers India (EIL) towards the civil, structural and waterproofing works for construction of EIL’s new office complex at Gurgaon, Haryana.
TCS advanced 4.7% after consolidated net income rose 6.3% to Rs 7340 crore on 6.8% increase in revenue to Rs 34261 crore in Q1 June 2018 over Q4 March 2018.
Japan stocks were lower after the close on Wednesday, as losses in the Power, Railway & Bus and Food sectors led shares lower. At the close in Tokyo, the Nikkei 225 declined 1.19%.
Philippines stocks were higher after the close on Wednesday, as gains in the Holding Firms, Property and Mining & Oil sectors led shares higher. At the close in Philippines, the PSEi Composite gained 1.39%.
Taiwan stocks were lower after the close on Wednesday, as losses in the, Electronic Parts/Components and Cement sectors led shares lower. At the close in Taiwan, the Taiwan Weighted lost 0.74%.
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