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The market ended with decent gains, snapping losses in the past two trading sessions. Gains were supported by firmness in auto and banks stocks. Trading was volatile as the Nifty bounced back after briefly slipping below 11,000 mark in the intraday. Global shares were mixed ahead of US Fed policy meeting outcome later today. All the sectoral indices ended in the green led by the metal, auto, pharma, IT, infra, FMCG and energy. At close, Nifty was up 28.40 points at 11,113.80.

Global Markets

Credit Suisse posted its highest quarterly earnings in four years on Wednesday, hailing frugal cost management as paying off in a tough environment.European shares steadied on Wednesday, as strong results from lenders BNP Paribas and Credit Suisse countered a poor report from British bank Lloyds in a market marking time ahead of a keenly-awaited U.S. Federal Reserve decision on interest rates.

Stock Snippets

JSW Steel: Company declared as the preferred bidder for another 3 iron ore mines (Narayanpura Manganese & Iron Ore Mine, Dharmapura Iron Ore Mine & BBH Mines) in the auctions held by the Government of Karnataka in July 2019.

Mylan N.V. and Pfizer Inc. announced a definitive agreement to combine Mylan with Upjohn, Pfizer’s off-patent branded and generic established medicines business, creating a new global pharmaceutical company.

RBL Bank clarified that it has exposures to certain operating entities of the Coffee Day Group in the logistics, coffee and real estate businesses.

Jindal Steel & Power has successfully executed the first-ever rail order to Indian Railways on 29th July 2019.

Alkem Laboratories announced that US FDA has issued an establishment inspection report (EIR) for the company s manufacturing facility located at Baddi, India which was inspected from 13th May, 2019 to l i 11 May 2019.

Global Markets

Japan stocks were lower after the close on Wednesday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower. The Nikkei 225 fell 0.86%.

Australia stocks were lower after the close on Wednesday, as losses in the Utilities, Consumer Discretionary and Financials sectors led shares lower. The S&P/ASX 200 lost 0.47%.

China’s Shanghai Composite and the Shenzhen Component were down 0.8% and 0.5% respectively.

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