Benchmark indices traded lower for the third straight trading session ahead of FEB F&O expiry amid subdued global cues. Domestic indices are witnessing pressure following the development of PNB fraud case and selling by FII has also impacted the market to remain lower. Nifty ended at 10343.75. Cements stocks were the major gainers of the day while banking and pharma stocks were the major losers.
Global Markets Update
Vodafone Group PLC plans to launch a new drone-tracking and control technology in 2019, to monitor the flights of drones and if necessary take control of the unmanned aircraft to prevent criminal activity.
European shares edged back in positive territory on Tuesday after ending a three-day recovery in the previous session when Wall Street and Chinese markets were closed for holiday.
Public sector undertaking NTPC Ltd will be looking to acquire hydropower projects in a bid to continue diversifying its energy generation portfolio. This will be similar to the call for acquiring thermal power projects that NTPC had issued recently.
Suven Life Sciences has secured a product patent each from India and South Korea for treatment of disorders associated with neuro-degenerative diseases. The patents are valid through 2029 and 2033, respectively, the company said in a BSE filing.
Mahindra & Mahindra is planning to increase its electric vehicles (EVs) production to 4,000 units a month by December 2019.The Company has a capacity of about 400 EVs a month.
Shares of Tata Steel tumbled for a fourth straight session on Monday, falling nearly 6 per cent, following reports that the steel major has evinced interest to acquire debt-laden Bhushan Steel.
Kaya shares rallied as much as 5.5% after Porinju’s Equity Intelligence picked up minor stake in the company.
Moody’s Investors Service has placed Punjab National Bank under review for downgrade. The agency has a Baa3/P-3 rating on PNB now while it has a Baa3 rating on its foreign currency issuer rating.
Japanese stocks dropped on Tuesday as a combination of a retreat in risk appetite and profit-taking dented the broader market, with financials and index-heavy shares underperforming .The Nikkei dropped 1.0 percent to 21,925.10, after rising 2 percent on Monday.
Philippines stocks were higher after the close on Tuesday, as gains in the Mining & Oil, Services and Property sectors led shares higher. At the close in Philippines, the PSEi Composite rose 0.14%.
Over in South Korea, the Kospi slipped 0.89%, with losses seen in heavyweight technology like Samsung Electronics fell 2.23%.
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