Indian equity markets were trading with marginal cuts, dragged down by private banks, in Tuesday’s highly volatile session that saw the volatility index, India VIX, surge over 7 per cent to a 12-year high level of 63.14. Among individual stocks, shares of YES Bank rallied over 60 per cent to Rs 60.65 on the NSE after global rating agency Moody’s upgraded YES Bank’s long-term foreign currency rating from “Caa3” to “Caa1. Nifty settled at 8915.60.
Uber Technologies Inc on Tuesday began suspending shared rides on its ride-hailing platform in the United States and Canada to limit the spread of the corona virus. European stock markets turned red Tuesday, as evidence of the corona virus hitting corporate Europe outweighed news of more central bank largesse and promises of action from the G7 and the Euro group. Euro Stoxx 50 dropped 1.0%.
Bharti Infratel’s net profit for the fourth quarter of 2018-19, remained flat at Rs 607.6 crore amid the proposed mergers and acquisitions in the tower business due to consolidation of the telecom industry.
The Enforcement Directorate (ED) has summoned Reliance Group Chairman Anil Ambani in connection with the ongoing money-laundering probe against YES Bank co-founder and former chief executive officer Rana Kapoor. The Group is among the largest borrowers from the bank, with an exposure of around Rs 14,000 crore.
JSW Steel has decided not to make the payment of ₹19,700 crore to close the Bhushan Power and Steel without getting final nod from the Supreme Court
Maruti Suzuki India on March 16 announced the expansion of its commercial network portfolio.
Asian shares fell on Tuesday in a topsy-turvy session following one of Wall Street’s biggest one-day routs in history as headlines about the coronavirus outbreak and its global economic impact whiplashed investor sentiment.
Japan stocks were higher after the close on Tuesday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher. At the close in Tokyo, the Nikkei 225 gained 0.06%.
Australia stocks were higher after the close on Tuesday, as gains in the Gold, Metals & Mining and Financials sectors led shares higher. At the close in Sydney, the S&P/ASX 200 rose 5.83%.
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