Domestic stocks opened higher as sentiment was boosted after the India Meteorological Department forecasted normal monsoon this year. After an initial volatility, The domestic bourses drifted higher and hit fresh intraday high in morning trade. Though stock trimmed gains in mid afternoon trade but indices once again regained strength after reversing intraday losses. Realty sector were the major gainers and PSU bank were the major losers.
Global Markets Update
On Tuesday European shares edged up as sentiments regarding tension between the Russia and US eased up with attention shifting to the first quarter earnings season and deal making. Sweden’s Intrum Justitia(ST: INTRUM) gained more than 11% after it filed a binding bid for Intesa Sanpaolo’s debt collection unit in a 3.6 billion Euro deal.
From MVVNL (Madhyanchal Vidyut Vitran Nigam Limited), Bajaj Electricals bagged orders worth Rs 3577.93 crore for 10 rural/urban electrification projects.
Adani Ports and Special Economic Zone advance 0.81% after the company said it signed a long-term regasification pact with IOC for Dharma LNG Terminal.A Bengaluru based real estate firm, Sobha Limited, share prices rose 2.1% after the company said it has forayed into Gujarat property market and will invest Rs 500 crore to develop a housing project in GIFT city. According to the media report, Aditya Birla Group in talks to raise USD 1 billion for Idea cellular. Fortis Healthcare raises Rs 150 crore bridge loan in the bid to stave off insolvency said according to Mint.
Today Glenmark Pharmaceuticals announced the initiation of phase 2b clinical trial of GBR 830, a novel investigational treatment for moderate-to-severe atopic dermatitis. On April 26, Biocon board meeting to consider final dividend.
Japan’s Nikkei shares were higher after the close Tuesday, as gains in the Pharmaceutical Industry, Gas and Water and Food sectors led shares higher. The Nikkei rose 0.06 percent to 21847.59. Taiwan stocks were lower after the close on Tuesday, as losses in Biotech& Medical care and Semiconductor sectors led shares lower. At the close in Taiwan, the Taiwan Weighted fell 1.32%. Australia stocks were higher after the close on Tuesday. Gains in the IT, Gold and Telecoms Services sectors lead shares higher. At the close in Sydney, the S&P/ASX 200 gained 0.12%.
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