Domestic bourses logged modest gains on steady buying demand with the Sensex and the Nifty, both, scaling record highs. In early trade, volatility struck as the key indices trimmed almost entire gains after a higher start triggered by positive Asian stocks. Fresh buying pushed the key benchmark indices higher in afternoon trade and extended gains in late trade with the Sensex and the Nifty both scaling record highs. The Nifty 50 gained 60.55 points and settled the day at 11450. PSU Banks were the major gainers and Pharma sector were the major losers of the day.
European shares dipped on Wednesday as corporate earnings failed to lift sentiment soured by trade tensions, as the United States prepares to begin collecting tariffs on another $16 billion in Chinese goods. European STOXX 600 was down 0.3%. Glencore reported 23% rise in first-half earnings and a 12% increase from its trading division while noting higher production costs for copper and zinc and a still volatile market.
GAIL (India) share prices gained 1.00% after the company enunciated decision of Gujarat High Court on levy of sales tax on interstate sale of natural gas.
Karur Vysya Bank has signed a MoU with Vidal Healthcare Services for issuing cashless hospitalization cards (KVB Arogya Card) against Fixed Deposit for the Bank’s customers.
The civil construction company, Patel Engineering has bagged two hydro projects worth Rs 1793.5 crore and a tunnel project worth Rs 618.21 crore
Hindalco Industries share prices rose 0.75% after the company’s US-based subsidiary, Novelis, reported good earnings in June quarter.
Mphasis share prices plunged 3.4% after company released consolidated net profit rose 8.68% to Rs 258.31 crore on 4.34% increase in net sales to Rs 1820.22 crore in Q1 June 2018 over Q4 March 2018.
Tata Power becomes the first power utility in Mumbai to offer Bill Payments at Vodafone Mini Stores.
Philippines stocks were higher after the close on Wednesday, as gains in the Services, Industrials and Property sectors led shares higher. At the close in Philippines, the PSEi Composite rose 1.63% to hit a new 1-month high.
Japan stocks were lower after the close on Wednesday, as losses in the Warehousing, Trading and Paper & Pulp sectors led shares lower. At the close in Tokyo, the Nikkei 225 fell 0.08%.
Taiwan stocks were higher after the close on Wednesday, as gains in the Textile, Semiconductor and Oil; Gas & Electricity sectors led shares higher. The Taiwan Weighted added 0.84%.
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