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Market Snippet
Domestic bourses declined, trimming recent gains as profit booking emerged amid weakness in global stock markets, after negative opening market slipped further. Key indices staged a recovery in afternoon trade. However selling pressure again dragged indices lower in mid afternoon trade. Nifty 50 lost 49 points and settled at 10569.05.
IT sectors were the major gainers and PSU banks were the major losers.

Global Markets Update
On Wednesday, European shares declined in early deal as worries over rising bond yield trumped a slew of well-received earnings updates from Kering and Credit Suisse.
Kering (PA:PRTP) shares prices rose 7% after the luxury goods company posted an impressive performance in its first quarter results thanks to flying demand for its Gucci clothing and handbags.

Nifty

Stock Snippets

To offset rising input cost Hero Moto Corp hikes two-wheeler prices by up to Rs 625     .

Raymond approves development plan worth Rs 300 crore for 20 acres land at Thane.

To buy Reliance Infrastructure’s Mumbai Power business, Adani Transmission raises funds.

Fortis healthcare received revised offer from Radiant life care. Moreover, IHH has submitted binding bids for Fortis and has proposed to inject Rs 650 crore at Rs 160 per share.

From May 1-10, State Bank of India will issue & encash electoral bonds through its 11 authorised branches.

According to ToI, ITC to enter Rs 7,000 crore mango drink market with B Natural.

On Tuesday, Crompton Greaves expands its portfolio with new range launch of fans & air coolers.

After merger of Bharti Infratel and Indus Towers is completed, Bharti Airtel said it will engage with potential investors to evaluate a strategic stake sale in the new tower company.

Global Markets

Japan’s Nikkei shares were lower after the close on Monday, as losses in the Retail, Fishery and Food sectors led shares higher. The Nikkei lost 0.28 percent to 22215.32.

Taiwan stocks were lower after the close on Wednesday, as losses in Electronic parts/Components and Cement sectors led shares lower. At the close in Taiwan, the Taiwan Weighted lost 0.18%.

China’s stocks were lower after the close on Wednesday. Losses in the Life Insurance, Real Estate Investment & Services and Financials sectors lead shares lower. At the close in Shanghai, the Shanghai Composite lost 0.35 per cent.

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