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Market Snippet
Benchmark indices traded marginally higher ahead of FEB F&O expiry due tomorrow lead by IT stocks after the report of NASSCOM which stated optimistic industry growth. The global market cues also remained supportive as the Asian shares gained the momentum. Nifty ended at 10392.90.
IT stocks were the major gainers of the day while Pharma stocks were the major losers of the day.

Global Markets Update
European shares retreated Wednesday, under pressure from a continued rise in bond yields, Europe’s pan-European STOXX 600 index was down 0.2 percent, while Germany’s DAX also fell 0.2%. Glencore PLC on Wednesday said it quadrupled its earnings in 2017, increased its dividend payout to investors and was on the lookout for deals fresh signs of strength in the global mining industry.

Nifty

Stock Snippets

Idea Cellular Ltd on Wednesday said its capital raising committee has approved an issue price of Rs 82.50 per share for sale of shares through a qualified institutional placement (QIP) to raise as much as Rs3,500 crore.

Gitanjali Gems plunged another 10 per cent to hit its lowest trading permissible limit for the day and has suffered an erosion of Rs 419 crore from its market valuation in the past one week.

State-run power equipment maker BHEL has bagged a Rs 1,034-crore gas turbine-based captive power plant order from HPCL,for its Visakh Refinery expansion project at Visakhapatnam, Andhra Pradesh.

Biocon Shares fall as much as 3.35% to Rs 553.15 after US health regulator has made six observations after inspecting its Malaysia manufacturing facility.

Shares of Eros International Media Limited jumped 6.34 percent intraday on Wednesday after Reliance Industries Ltd (RIL) on Tuesday said it will buy a 5 percent stake in NYSE listed Eros International Plc (Eros) through a subsidiary.

Global Markets

Japan’s Nikkei share average edged up on Wednesday in choppy trade as chip stocks and other exporters were boosted by steady dollar-yen levels, offsetting weakness in financial stocks such as insurers, brokers and banks.The Nikkei ended 0.3 percent higher to 21,970.81, after moving in and out of negative territory.

Philippines stocks were lower after the close on Wednesday, as losses in the Property, Industrials and Holding Firms sectors led shares lower.At the close in Philippines, the PSEi Composite fell 1.25%.

Australian stocks were down 0.05 percent and South Korea’s KOSPI fell 0.4 percent.

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