The indices opened higher and extended gains in early trade. After hitting fresh intraday high in morning trade, indices pared gains in mid-morning trade. Benchmarks firmed up once again and hit fresh intraday high in mid-afternoon trade. Steep selling pressure in late trade dragged indices in negative terrain. The Nifty 50 lost 36.60 points and settled at 10604.35. IT sector were major loser and Metal sector were the major gainer of the day. Market participants anxiously waited for details from the latest round of US-China trade talks.
European shares edged down slightly on Tuesday at the open but clung to highs not seen since October as optimism about Sino/U.S. trade talks helped maintain morale despite a few earnings disappointments such as HSBC’s and BHP Group’s. The STOXX 600 was down 0.2%. Japanese car maker Honda is set to announce it’s closing its only British car plant in 2022 with the loss of 3,500 jobs.
Grasim Industries informed that it will acquire Chlor-Alkali business of KPR Industries for Rs253cr. This transaction is subject to regulatory approvals.
Tata Steel arm entered into an agreement with IMR Asia Holdings to divest its entire stake in Black Ginger.
Wipro launched its cloud solution platform for the organizations to migrate into Oracle Cloud.
Cyient launched digital service solutions for original equipment manufacturers and equipment owners and operators.
Power Grid Corporation of India approved the investment approval of Rs573cr for ‘Northern Region System Strengthening’
NLC signed a MoU with NHPC on power trading. With this agreement, both power generating public sector undertakings will offer surplus power available in northern and north-east region to the bulk consumers in southern region at an affordable tariff.
Japan stocks were higher after the close on Tuesday, as gains in the Chemical, Petroleum & Plastic, Gas & Water and Railway & Bus sectors led shares higher. The Nikkei 225 added 0.10% to hit a new 1-month high.
Australia stocks were higher after the close on Tuesday, as gains in the IT; Financials and Telecoms Services sectors led shares higher. The S&P/ASX 200 gained 0.28% to hit new 3-months high.
China’s Shanghai Composite was up 0.2%, while the Shenzhen Component was trading near flat. Hong Kong’s Hang Seng Index edged up 0.2%.
(Click to submit your details) Just one step to get the best trading tips and Recommendation.