The domestic market ended higher, snapping nine-day losing streak.Indices opened lower and briefly bounced into positive terrain in early trade. Recovery was short lived as indices once again dipped into the red.Benchmarks bounced back into positive terrain in afternoon trade and hit fresh intraday high in mid-afternoon trade.The Nifty 50 gained 73.85 points and settled at 11222.05. IT sector were major gainer of the day and PSU Banks were major loser of the day. On the economic front, India’s WPI inflation at 3.07% in April; Food inflation at 4.95%.
Nissan Motor Co forecast a 28% drop in its annual operating profit, weakest earnings in 11 years and underscoring its struggle to turn the page after the ouster of former Chairman Carlos Ghosn.World stocks hovered near two-month lows on Tuesday, although slightly more optimistic comments from U.S. and Chinese officials on trade brought some comfort a day after equities suffered their worst selloff so far this year.
Hero MotoCorp has more than doubled its capex for the current fiscal to Rs 1,500cr, mainly to upgrade its portfolio to conform to BS-VI emission norms and for its upcoming plant in Andhra Pradesh.
Engineers India signed a contract with Mangol Refinery for providing its PMC Services for the construction of Crude Oil Refinery plant in Mongolia.
Lupin has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (US FDA) for the Post-Marketing Adverse Drug Experience (PADE) inspection, indicating successful closure of the inspection.
Shares of Jet Airways plunged 11% on Tuesday after Deputy Chief Executive Officer and Chief Financial Officer of the debt-ridden company resigned.
Shares of Aurobindo Pharma declined 1% after the company clarified that various US states have filed a 2nd lawsuit alleging the company and other drug makers had violated antitrust laws by fixing prices and allocating customers.
Japan stocks were lower after the close on Tuesday, as losses in the Shipbuilding, Communication and Real Estate sectors led shares lower. The Nikkei 225 lost 0.59% to hit a new 1-month low.
Chinese stocks fell on Tuesday as the tariff war between Washington and Beijing escalated though losses were contained after conciliatory comments from U.S. President Donald Trump and amid suspected state-backed buying of equities. Both the Shanghai Composite and the blue-chip CSI300 opened down 1%.
Australia stocks were lower after the close on Tuesday, as losses in the Financials, Energy and Industrials sectors led shares lower. The S&P/ASX 200 fell 0.92% to hit a new 1-month low.
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