Domestic market extended recent record-setting spree, backed by index heavyweights Reliance Industries, Hindustan Unilever and Infosys, as investors focused on the central bank’s bi-monthly policy meeting that will end on Wednesday. Though after trading in negative zone for most part of the session, indices spurted in late trade after the government unveiled fiscal deficit figures for Q1 June 2018. The Nifty 50 gained 36.95 points and settled the day at 11356.50. Realty sector were the major gainers and PSU Banks were the major losers of the day.
European shares struggled for direction on Tuesday as stocks were pulled about by earnings updates from oil major BP, big lenders and a host of smaller UK companies. The European STOXX 600 was flat. BMW is investing 1 billion Euros in a new car factory in Debrecen, capable of building electric cars. The plant will have a production capacity of 150,000 cars a year and be able to make both electric and combustion engine vehicles.
KPIT Technologies has won the ‘Oracle Excellence Award 2018’ in the ‘SCM Cloud Partner of the Year’ category at the Oracle India Partner Forum FY19.
BEML and Heavy Engineering Corporation (HEC) signed a MoU to meet the growing requirements of the mining industry.
InterGlobe Aviation dropped 8.24% after the company reported 96.57% slide in net profit to Rs 27.79 crore on 14.49% rise in total income to Rs 6818.33 crore in Q1 June 2018 over Q1 June 2017.
Roselabs Finance enunciated that the Reserve Bank of India has approved cancellation of the Company’s Certificate of Registration as a Non-Banking Financial Institution (NBFI) granted under section 45-IA of the RBI Act 1934.
Prices of M&M’s passenger vehicles (PVs) will be hiked by up to Rs 30,000 or 2%. The company mentioned in its press release that the price was being hiked to offset rising commodity prices.
RPP Infra Projects has bagged order from Maharashtra PWD worth Rs 217.1 crore.
Asian equities were mixed in afternoon trade on Tuesday after China’s official manufacturing Purchasing Manager’s Index (PMI) fell more than expected in July. The Shanghai Composite and the Shenzhen Component were 0.2% and 0.1% lower respectively.
Taiwan stocks were higher after the close on Tuesday, as gains in the Trading & Consumer Goods, Oil, Gas & Electricity and Plastic sectors led shares higher. The Taiwan Weighted gained 0.22%.
Japan’s Nikkei failed to hold on to earlier BOJ-fueled gains, ending the day flat. MSCI’s index of Asia-Pacific tech shares fell almost one percent.
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