The market tumbled on Tuesday as traders booked profits after six-day rising streak. Weakness in IT major Infosys put pressure on bourses. Selling in Bajaj Finance and Bharti Airtel also weighed on key indices. Private banks, however, supported the indices at lower levels. The Nifty crossed 11,700 mark in morning trade, but steep selling pressure dragged the index below 11,600 level in mid-afternoon trade. In the past six trading sessions, the Sensex surged 3.74% while the Nifty advanced 3.8%.
AMS beat expectations with a 41% jump in third-quarter revenue on and forecast further strong demand for its optical sensors from Smartphone makers. European shares fell as investors sifted through a mixed bag of corporate earnings and eyed latest developments on U.S.-China trade talks and Britain’s progress towards some form of orderly departure from the European Union. European STOXX 600 index, was down 0.3%
Pharma major Lupin announced the receipt of the Establishment Inspection Report (EIR) from the USFDA for its Nagpur facility. The facility was inspected by the USFDA between August 5, 2019, and August 8, 2019.
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned 1×800 MW Wanakbori Unit 8 Expansion Project in Gujarat.
Adani Green Energy Limited (AGEL) through its subsidiaries, is implementing 725 MW wind projects in Kutch, Gujarat, Adani Green Energy (MP) Limited has commissioned 50 MW wind energy generation capacity on October 20, 2019 having Power Purchase Agreement (“PPA”) with SECI for a period of 25 years.
USFDA approved Granules India’s ANDA for Fexofenadine Hydrochloride tablets. It is bioequivalent to Allegra allergy tablets of Sanofi-Aventis U.S. LLC.
Tata Steel clarified that news concerning security threats to its Jamshedpur steel plant is incorrect and there is no information of any specific threat to the plant’s security.
Asian markets moved higher in morning trade on Tuesday, following gains on the Wall Street overnight amid positive Sino-U.S. trade news. China’s Shanghai Composite was little changed at 2,941.32, while the Shenzhen Component gained 0.4%.
Australia stocks were higher after the close on Tuesday, as gains in the Materials, Metals & Mining and Resources sectors led shares higher. The S&P/ASX 200 added 0.30%.
South Korean shares closed over 1% higher on Tuesday as optimism around U.S.-China trade talks boosted risk appetite. The won gained, while the benchmark bond yield fell.
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