Stock Market News and Tips | Free Stock Tips | 04-Feb

Key indices logged modest gains as finance minister Piyush Goyal presented interim budget. Presenting the interim budget for 2019-20, Finance Minister Piyush Goyal said the fiscal deficit for the current financial year is expected to be 3.4% of GDP. As per the Budget estimate, the fiscal deficit for 2018-19 was pegged at 3.3%.

The Nifty 50 gained 62.70 points and settled at 10893.65. Auto sector were major gainers and Media sector were major loser of the day.

Global Markets

U.S. electric vehicle maker Tesla Inc will start taking orders in China on Friday for a lower-priced version of its Model 3 car, as it seeks to accelerate China sales hit by trade friction between Washington and Beijing. Global shares crept lower from their highest levels in two months on Friday as data showing shrinking factory activity in China dampened a rally that took them to their best January on record.

Stock Snippets

Yes Bank received the Reserve Bank of India’s nod for appointment of Ajai Kumar as the Interim managing director and Chief Executive Officer of the bank with effect from February 1 until Ravneet Gill assumes office.

Skipper received observation letters from exchanges regarding the company’s demerger resulting in Skipper Pipes.

Suzlon Energy sold its balance stake in Prathmesh for Rs57cr to Ostro Energy.

Lupin has launched Orphan Drug NaMuscla in Germany and UK, the company said in a press note to the exchanges.

Vedanta share prices plunged 17% as investor raise concerns regarding corporate governance issue.

The Reserve Bank of India said that Bank of India, Bank of Maharashtra and Oriental Bank of Commerce were allowed to exit the prompt corrective action framework after meeting the regulatory norms.

Global Markets

Indonesia stocks were higher after the close on Friday, as gains in the Trade, Financials and Basic Industry sectors led shares higher. The IDX Composite Index gained 0.09% to hit new 6-months high.

Japan stocks were higher after the close on Friday, as gains in the Precision Instruments, Transport and Retail sectors led shares higher. The Nikkei 225 gained 0.07% to hit a new 1-month high.

Taiwan stocks were higher after the close on Friday, as gains in the Computers & Peripherals, Textile and Cement sectors led shares higher. The Taiwan Weighted added 0.01%.

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