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Domestic shares ended with small losses on Tuesday, extending a steep sell-off a day earlier. Despite a positive start, the market barometers reversed trend by mid-afternoon trade and ended in the red. U.S. President Donald Trump’s two-day visit failed to boost investor sentiment. President Trump reportedly said on Monday the two countries will sign defense deals worth $3 billion and that both sides were at the early stages of reaching an “incredible” trade agreement. However, fears of a global recession are running wild as countries battle the coronavirus.

Global Markets  

Southeast Asia’s Grab Mitsubishi UFJ Financial Group Inc (MUFG) and IT services firm TIS Inc have agreed to invest a combined $856 million in the ride-hailing firm. European stocks drifted lower in volatile trade Tuesday as markets failed to set a floor after the pounding it took over the spread of the coronavirus in Italy and in South Korea.

Stock Snippets

Tech Mahindra acquired 100 percent stake in Zen3 Infosolution—a U.S.-based company specialising in AI-based solutions.

JSW Steel Ltd was declared the preferred bidder for the Jajang Iron Ore block in Odisha.

TVS Motor said coronavirus outbreak impacted February production. The company could see a 10 percent drop in its planned February production.

RBI approved the re-appointment of Mr. Rajeev Ahuja as Executive Director (ED) of RBL Bank for a period of three years with effect from February 21, 2020.

Shares of Navin Fluorine International gained 20 percent intraday on February 25 after bagging a multi-year contract from global company in the fluorochemicals space

Shares of Biocon fell 5.85 percent after the detailed observations issued for Bengaluru unit by the US health regulator.

Global Markets

Asian share markets found some stability on Tuesday after a wave of early selling petered out and Wall Street futures managed a solid bounce, allowing investors to take a breather from coronavirus fears.

Australia stocks were lower after the close on Tuesday, as losses in the Gold, Telecoms Services and Consumer Discretionary sectors led shares lower.The S&P/ASX 200 declined 1.60% to hit a new 1-month low.

Hong Kong stock investors are the worst off in 16 years relative to the rest of the world as concerns mount over the impact of the coronavirus on an economy already reeling from last year’s protests.

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