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Stock Market Trading & Investment |Stock Tips

Key benchmark indices continue to trade in bearish tarrain after the Indo-Pak relation tensed following India’s air strike across LOC. Nifty traded higher in intial trading and witnessed heavy selling following the news. The global market cues also remained subdued. Nifty 50 closed at 10809.45.

Media shares were the major losers of the day while PSU bank shares were the major gainers of the day.

Global Markets

South Korea’s SK Innovation will invest a total of 945.2 billion won to build its second battery plant in Hungary. European shares were lower in early deals on Wednesday, snapping a three-day winning streak as a warning from Beiersdorf hammered consumer staples stocks and Air France-KLM sank on news the Dutch government would raise its stake in the airline. European STOXX 600 index was down 0.6%.

Stock Snippets

BEML has received a contract for seven metro train sets of six cars configuration to augment the metro services in Bengaluru valued around Rs 400 crore.

Mitsubishi Electric, the $40-billion Japanese major, will set up a new manufacturing facility in India focussed on hybrid vehicles, motors.

Indian Oil Corp (IOC) has won licences to retail gas in 10 cities while Hindustan Petroleum Corp Ltd (HPCL) won rights for nine towns as the Petroleum and Natural Gas Regulatory Board (PNGRB) announced winners for the 10th city gas bid round.

Panacea Biotec’S board has approved raising up to Rs 864 crore for one-time settlement with its lenders and other purposes.

Shares of Max India tumbled 11.5 percent intraday Wednesday after company approved selling its stake in Max Bupa Health Insurance Company.

Global Markets

Japan stocks were higher after the close on Wednesday, as gains in the Pharmaceutical Industry, Gas & Water and Chemical, Petroleum & Plastic sectors led shares higher. The Nikkei 225 rose 0.50% to hit a new 1-month high

Australia stocks were higher after the close on Wednesday, as gains in the Consumer Staples, Energy and Financials sectors led shares higher. The S&P/ASX 200 added 0.36%.

Hong Kong’s Hang Seng Index tacked on 0.2 percent. China’s blue-chip CSI300 bucked the trend, falling 0.8%.

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