The market declined after lackluster trading session on Thursday as investors booked profits after the government approved stake sales in select PSU firms. Zee Entertainment Enterprises surged on the promoter group’s plan to pare stake. The Nifty gave up the crucial 12,000 mark and closed below that level. Zee Entertainment, Eicher Motors, Dr Reddy’s Laboratories, Adani Ports and HUL were among major gainers on the Nifty, while losers were BPCL, Coal India, Tata Steel, Yes Bank and Bharti Airtel.
German carmaker BMW ordered more than 10 billion euros’ worth of battery cells from Chinese battery cell maker Contemporary Amperex Technology Co. Global stocks slid further as the standoff between the world’s two largest economies extended beyond trade, reducing the odds of a “phase-one” deal this year.STOXX 600 (STOXX) sliding 0.7% to fresh two-week lows.
Andhra Bank has received a communication from Ministry of Finance, Government of lndia stating that the Alternative Mechanism (AM) has accorded in-principle approval to the proposed amalgamation of Andhra Bank and Corporation Bank into Union Bank of lndia.
Infosys has been selected as a strategic end-to-end partner for Digital Ecosystem Application portfolio by ARLANXEO – a global market leader in synthetic elastomers.
Cadila Healthcare said Zydus Cadila has received final approvals from the US health regulator for Isosorbide Dinitrate Tablets and Desonide Cream.
Jubilant Life Sciences share price added more than 7% after terminating anti-dumping duty on imported pyridine originating in India.
Zee Entertainment Enterprises share price rose 15 percent in the early trade after promoter is planning to sell its stake in the company.
Asian markets fell in morning trade on Thursday, with Hong Kong stocks down more than 1.5% following news that both chambers of Congress passed a pro-Hong Kong rights bill.
Japan stocks were lower after the close on Thursday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower. The Nikkei 225 declined 0.48%.
Australia stocks were lower after the close on Thursday, as losses in the IT, Metals & Mining and Materials sectors led shares lower. The S&P/ASX 200 lost 0.74%.
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