Important Updates Of Stock Market & Tips

The market slumped on Tuesday, dragged by weakness in auto and IT stocks. Selling in HDFC twins also put pressure on bourses. The Sensex slipped below the 37,000 level while the Nifty breached the 11,000 mark. The Nifty was trading way below its 200-day moving average (DMA) placed at 11,170.31.

Global shares were negative as fears about a Sino-U.S. trade war, protests in Hong Kong and a crash in Argentina’s peso currency drove investors to safe harbours.

Global Markets

Steinhoff will struggle to turn a profit in coming years despite strong turnover as it restructures following an accounting scandaL. European shares fell on Tuesday, as negative news from around the globe including Italy and Argentina’s political uncertainty and persistent unrest in Hong Kong, compelled investors to take refuge in safe harbors like bonds and gold.European STOXX 600 index (STOXX) fell 0.4%.

Stock Snippets

Reliance Industries and Saudi Aramco signed a non-binding letter of intent to acquire 20% stake in the company’s oil and chemicals division, which is the value at $75 billion.

Strides Pharma Science Received zero form 483 observations by the USFDA on inspection of its Alathur Facility.

USFDA classified inspection conducted at Torrent Pharma’s Indrad facility in April as Official Action Initiated.

IRB Infra Developers arm completed concession period of Mumbai Pune project on Aug. 10

Pidilite Industries touched 52-week high of Rs 1,371.35, rising 1.5 percent on August 13 after company entered in to joint venture agreement with Spain and Italy based company

Bharat Forge, one of world’s largest forging companies, started off year on a weak note by reporting a massive 28 percent degrowth in June quarter profit, dragged by subdued demand in domestic market and inventory destocking in export oil & gas business.

Global Markets

Japan stocks were lower after the close on Tuesday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower.The Nikkei 225 lost 1.11% to hit a new 1-month low.

Australia stocks were lower after the close on Tuesday, as losses in the Healthcare, Consumer Discretionary and Utilities sectors led shares lower.The S&P/ASX 200 declined 0.33%.

Chinese shares fell on Tuesday after data showed banks extended fewer-than-expected new loans in July. ** The Shanghai Composite index closed down 0.6% at 2,797.26, while the blue-chip CSI300 index ended 0.9% lower.

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