Key benchmark indices finished the unstable session with minor losses. Market witnessed steep volatility as the Sensex and Nifty moved between negative and positive territory within the intraday. A steep fall in crude oil prices boosted investor sentiment while weak global cues capped gains.
The Nifty 50 lost 6.20 points and settled the day at 10576.30. PSU Banks were the major gainer and Pharma sector were the major losers of the day.
European shares retreated on Wednesday after data showing the German and Japanese economies contracted in the third quarter fueled worries about global growth amid a plunge in oil prices. The European STOXX 600 lost 0.8%. Singapore Airlines Ltd is facing no problem selling business class tickets on its ultra-long non-stop flights to the United States but has to price premium economy seats very attractively.
Share prices of Zee Entertainment Enterprises (ZEEL) were trading 5% higher on a stake sale announcement. ZEEL’s promoters have announced plans to sell up to 50% of their stake in the company to a strategic partner.
NBCC has won an award worth Rs100cr from IIT Mandi includes providing project management consulting for the construction & development of faculty housing & student hostels.
Tata Global Beverages has signed an LoI with Tata Steel Special Economic Zone Limited, a wholly-owned subsidiary of Tata Steel, for setting up a Tea packaging unit in Gopalpur Industrial Park, Orissa.
Reliance Infrastructure has bagged a Rs16.14cr arbitration award against National Highway Authority of India, a small win for the company which has Rs 8,000cr of claims with different government agencies.
VA Tech Wabag has bagged order worth Rs600 crore in Tunisia.
Japan stocks were higher after the close on Wednesday, as gains in the Power, Transport and Chemical sectors led shares higher. The Nikkei 225 rose 0.16%.
Taiwan stocks were higher after the close on Wednesday, as gains in the Hotels, Transport and Auto sectors led shares higher. The Taiwan Weighted rose 0.16%
Australia stocks were lower after the close on Wednesday, as losses in the Energy, Resources and Metals & Mining sectors led shares lower. The S&P/ASX 200 fell 1.74%.
(Click to submit your details) Just one step to get best trading tips and Recommendation.