Domestic shares declined after the Reserve Bank of India (RBI) lowered the GDP growth forecast for the current fiscal amid probability of El Nino effects on monsoon rains and uncertain global economic outlook. The central bank also cut its repo rate by 25 basis points to 6%. This is the second consecutive rate cut from RBI under new chief Shaktikanta Das, after a surprise rate cut in February.The Nifty 50 lost 45.95 points and settled at 11598. Pharma sector were major gainer and Private Banks were major loser of the day.
Tencent Holdings Ltd announced in a statement on Thursday that it has issued bonds worth $6 billion.The bond sale consists of $2 billion in fixed and floating rate five-year notes. European stocks took a breather on Thursday after hitting an eight-month high in the previous session, with banking mergers in focus while investors awaited more developments in U.S.-China trade talks.The pan-European STOXX 600 index was down 0.4%.
Reliance Industries’ Jio inks business transfer agreement with Haptik for ~Rs700cr.
Gruh Finance and Bandhan Bank received observational letters from stock exchanges, and no-objection for the amalgamation of the companies.
Tata Global Beverages said its Russian arm has been liquidated consequent to the completion of the restructuring.
Godrej Properties announced that it has entered into a joint venture with a renowned developer to develop a 4.25 acres sea-facing property in the prime suburban micro-market of Bandra West, Mumbai.
Share price of SRF rose more than 3 percent after company informed about resumption of operations at its Gujarat plant at the earliest.
L&T Hydrocarbon Engineering, a wholly owned subsidiary of Larsen and Toubro, has won contracts across various business segments between Rs 1,000-2,500 crore.
Asian shares stepped back from eight-month highs on Thursday as investors took money off the table amid fresh concerns about the ongoing Sino-U.S. trade talks and their impact on the prospects for world growth. Chinese shares were firmer with the blue-chip index up 0.6%.
Japan stocks were higher after the close on Thursday, as gains in the Transport, Fishery and Transportation Equipment sectors led shares higher. The Nikkei 225 added 0.05%.
Australia stocks were lower after the close on Thursday, as losses in the Energy, A-REITs and Gold sectors led shares lower. The S&P/ASX 200 fell 0.83%.
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