Benchmark indices lower on the fourth trading session of the week over the growing uncertainty of the US precedential election next week. Meanwhile the FOMC maintains its status quo on interest rate however indicates the hike may be possible in December meeting. The Nifty ended the session to close at 8485 i.e. 29.05 points lower. Hindalco, Infratel, ITC and ACC were the top gainers of the day while Adani Ports, Grasim, Asian Paints were the top losers of the day.
Global Markets Update:
Credit reported an unexpected net profit for a second quarter in a row, was largely down to real estate sales and Chief Executive Tidjane Thiam cautioned the outlook remained challenging.
Japan’s Nikkei share average fell to a two-week low on Wednesday as worries over the U.S. presidential election prompted a recoil in global markets, with a stronger yen adding to the cautious mood.
BHEL gains in an otherwise market as Deutsche Bank’s optimism that utilities and industrial sector is poised for an
upgrade. The brokerage firm feels that it is the biggest beneficiary as the state power sector plans to retire an unprecedented 36GW of old, inefficient and polluting capacity over the next six years.
Strides Shasun rallied 6 percent after the company and Mylan have agreed on a full and final settlement of all regulatory claims notified by Mylan to the company and subsidiary Strides Pharma Asia Pte Ltd.
Ambuja Cements posted 79.2% growth in Q2 net profit which stood at Rs Rs 277 crore on the back of dividend income of Rs 103 crore from ACC (post amalgamation of Holcim lndia with the company). Revenue during the quarter tanks 3.8 percent to Rs 2031.4 crore against Rs 2110.9 crore.
Aurobindo Pharma shares tanks on the back of media reports that company has expressed interest in acquiring Portuguese drug maker Generis Farmaceutica for about $200 million.
GNFC (Gujarat Narmada Valley Fertilizers and Chemicals Limited) shares tanks more than 17 percent on NSE made low of 215 on the back of huge trading volumes.
European shares looked set to snap their longest losing streak in more than two years as good corporate results, particularly from euro zone banks, helped to lend support.
Taiwan stocks were lower as losses in the , Textile and Computers & Peripherals sectors led shares lower. Australia stocks were lower after the close on Thursday, as losses in the A-REITs, Utilities and Consumer Discretionary sectors led shares lower.
Indonesia stocks were lower after the close on Thursday, as losses in the Mining, Miscellaneous Industry and Consumer Industry sectors led shares lower.
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