Stock Market Report With Higher Accuracy

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Market Snippet

Benchmark indices traded flat as caution prevailed before the US Federal Reserve’s two-day policy meeting beginning later today. The Fed is expected to hold interest rates steady, but investors will be looking for clues on the expected pace of further tightening later this year and next.  Nifty closes the day flat at 10168.80. Realty stocks were the major gainers of the while PSU banks and Metal stocks were the losers of the day.

Global Markets Update

Chinese airlines could need between 60 and 100 of Airbus SE’s A380 jets over the next five or so years as passenger traffic grows, the plane maker’s China head said, amid rising questions over future demand for the super jumbo.

Asian shares slipped hobbled by uncertainty as traders awaited a Federal Reserve meeting for clues on U.S. monetary policy, though sentiment was supported by record highs on Wall Street.

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Stock

Tata Chemicals has sold its stake in Tata Global Beverages to Tata Sons during Tuesday’s trade.  The company has sold 4,31,75,140 equity shares of face value of Rs 1 each of Tata Global Beverages Limited to Tata Sons Limited at price of Rs 213.35 per share (excluding brokerage and STT).

ICICI Lombard IPO issue got subscribed by 103% or 1.03x as of 1045 hours. The total issue size of the issue stands at 6,16,66,740 shares. It received total bids of 6,33,78,282 shares while the total bids received at cut off price stood at 1,95,08,610 shares.

Zydus and Pharm Aid Limited announced that the company entered into an exclusive agreement for varicella vaccine production technology in Russia. The agreement was signed at the Biotechmed conference held at Gelendzhik in Russia.

NMDC’s total iron ore production stood at 13.18 million tonnes whereas its sales stood at 14.99 million tonne up to the month of August 2017; Stocks tanks.

M&M has displayed its first ever driverless tractor. The unit is developed at the Mahindra Research Valley, Chennai.  The company plans to offer the driverless tractor technology across its range of tractor from 20HP to 100HP over a period of time.

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Global

European shares opened slightly lower on Tuesday as traders awaited clues from a Federal Reserve meeting on its plans to move towards unwinding its $4.2-trillion portfolio of Treasuries and mortgage-backed securities.

Japan’s Nikkei share average surged 2 percent on Tuesday to hit its highest close in more than two years as investors drew confidence from a weakening yen and gains on Wall Street, while hopes of a snap election underpinned the market.

Taiwan stocks were lower after the close on Tuesday, as losses in the Other Electronic and Paper & Pulp sectors led shares lower.

Indonesia stocks were higher after the close on Tuesday, as gains in the Mining, Property and Trade sectors led shares higher.

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