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Local stocks nudged higher in early trade on buying demand in index pivotals. Key equity indices were hovering near day’s high in mid-afternoon trade. Stocks erased intraday gains to sink in negative zone in late trade. The Nifty 50 lost 18.50 points and settled at 11575.95.Pharma sector were major gainer and Auto sector were major loser of the day. On the political front, as many as 116 Lok Sabha constituencies are undergoing polls today, 23 April 2019, across 14 states and Union Territories in Phase 3 of the 2019 general election.

Global Markets

Samsung Electronics is retrieving all Galaxy Fold samples distributed to reviewers as the firm smarts from the reputational blow of postponing the launch of its first foldable smartphone. Australia stocks were higher after the close on Tuesday, as gains in the Energy, Consumer Discretionary and Utilities sectors led shares higher. The S&P/ASX 200 gained 0.95% to hit new 6-months high.

Stock Snippets

GAIL emerged as the highest bidder for wind assets portfolio of IL&FS.

Jindal Steel & Power announced that it has completed delivery of the first ever rail order to supply rails to Indian Railways

Biocon rose 1.48% after the company said it board will consider issuing bonus shares at its meeting scheduled on 25 April 2019.

Mcleod Russel announced the sale of 3 tea estates to Luxmi Tea for Rs150cr.

Shares of Capacite Infraprojects gained 1% after the company won orders worth Rs342.38cr from private sector clients for construction of commercial and residential buildings at Mumbai.

 Syndicate Bank and BEML has signed an MOU for financing earth moving & construction equipment manufactured by BEML.

Bank of India allotted 51.76cr equity shares at Rs89.6/share, aggregating to Rs4638cr to the Government of India.

Global Markets

Asian stocks were mixed in morning trade on Tuesday after the Easter break.China’s Shanghai Composite and the Shenzhen Component fell 0.4% and 1.1% respectively.

Japan stocks were higher after the close on Tuesday, as gains in the Mining, Construction and Gas & Water sectors led shares higher.The Nikkei 225 rose 0.19%.

South Korea’s KOSPI surged 0.1%.  Samsung Electronics Co Ltd made headlines again after the company said it decided to delay the launch of its latest flagship phone

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