Local stocks drifted lower in early trade on negative Asian stocks.Indices extended slide in mid-afternoon trade. Fresh selling in index pivotals dragged the key benchmark indices to intrday low in late trade.The Nifty 50 lost 87.65 points and settled at 11584.30. Trading sentiment was dented by the International Monetary Fund (IMF) lowering global economic growth outlook. Investors were also cautious ahead of Q4 March 2019 earnings beginning later this week.
Sunrise Communications believes it will win backing to raise $4.1 billion to complete its takeover of Liberty Global’s Swiss business UPC. European shares advanced on Wednesday ahead of a Brexit summit and a policy meeting of the European Central Bank, with Spanish shares rising for the first time in three days. STOXX 600 index was up 0.2%.
Hindalco Industries fell 1% after the company said that it has temporarily suspended operations at the alumina plant situated at Muri in Jharkhand due to an incident on 9 April 2019.
Praj Industries rose 6.96% after the company said it collaborated with Gevo, Inc, USA to offer technology for production of high energy renewable aviation jet fuels.
Info Edge has invested through its wholly-owned subsidiary Rs6cr in Bizcrum Infotech Private Ltd.
Jet Airways has massively reduced its operations from its main hub Mumbai to just about 32 flights Tuesday.
Shares of DLF toppled nearly 4 percent after the investment arm of the Singapore government sold its stake in the company worth Rs 1,300 crore through an open market transaction on April 8.
Lupin has announced the launch of Fluoxetine Tablets USP, 60mg, having received an approval from the United States Food and Drug Administration (FDA) earlier.
Japan stocks were lower after the close on Wednesday, as losses in the Chemical, Petroleum & Plastic, Steel and Shipbuilding sectors led shares lower. The Nikkei 225 fell 0.53%.
China’s Shanghai Composite and the Shenzhen Component were down 0.5% and 0.6% respectively
Australia stocks were lower after the close on Wednesday, as losses in the Energy, Consumer Discretionary and Resources sectors led shares lower. The S&P/ASX 200 fell 0.03%.
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