Key benchmark indices snapped six-day rising trend to end with modest losses.Shares of index heavyweight and software major Infosys gained while index heavyweight and housing finance major HDFC dropped. The Nifty 50 lost 14.25 points and settled the day at 10869.50. Media sector were the major gainer and PSU Banks were the major loser of the day. Market participant remained cautious ahead of the outcome of the Reserve Bank of India’s (RBI) monetary policy meeting. The MPC will conclude its two-day meet, 5 December 2018. Global Markets
European shares traded in negative territory on Tuesday morning as investors started to question whether the truce agreed by the United States and China on their trade dispute would lead to a long-term deal.The pan-European STOXX 600 fell 0.3%.- Luzhou City Commercial Bank launched its IPO on Tuesday, selling 54.574 million H-shares at HK3.4 maximum per share.
Hindustan Unilever (HUL) announced a merger with GSK Consumer Healthcare (GSKCH) in an all share deal, with a swap ratio of 4.39 shares of HUL given for every share of GSKCH, implying a total equity value of Rs 31,700cr.
NCC received two new orders worth Rs220.2cr for November from state government agencies. Out of this, Rs174.2cr pertains to the electrical division while Rs46cr is for water division.
Welspun Enterprises arm signed a concession agreement with NHAI for a four-laning construction project in Tamil Nadu. Bid project cost stood at Rs 2,004.5cr.
Uflex share prices rose 5.18%. Uflex announced that its global film manufacturing arm, FlexFilms, has been granted United States Patent covering entire categories of formable films that include one or more BOPET layers used in Alu Alu blister packaging.
Lupin announced the launch of Silodosin Capsules 4mg and 8mg, having received an approval from the United States Food and Drug Administration (FDA) earlier.
Japan stocks were lower after the close on Tuesday, as losses in the Shipbuilding, Chemical, Petroleum & Plastic and Glass sectors led shares lower.The Nikkei 225 declined 2.39%
China stocks were higher after the close on Tuesday, as gains in the Travel & Leisure, Gas, Water & Multiutilities and Oil Equipment Services & Distribution sectors led shares higher. The Shanghai Composite rose 0.42%, while the SZSE Component index added 0.19%.
Taiwan stocks were lower after the close on Tuesday, as losses in the Oil, Gas & Electricity and Optoelectronic sectors led shares lower. The Taiwan Weighted fell 0.54%.
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