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Market Snippet

After opening higher, Key indices pared gains in early trade and extend the gains as the day progressed. Domestic bourses snapped a two weak losing streak, which was bolstered by a recovery in global stocks. The market breadth, indicating the overall health of the market, turned negative from positive in late trade. Nifty 50 gained 61.60 points and settled the day at 10772.05. Private Banks was the major gainers and FMCG sector were the major losers of the day.

Global Markets

Twenty-First Century Fox Inc’s board is set to decide whether to entertain Comcast Corp’s $65 billion cash bid for the New York-based media company or stick with its roughly $52 billion all-stock offer from Walt Disney Co. European shares opened higher on Wednesday but the modest rebound failed to erase the previous session’s losses as investors’ fears about the trade dispute between the U.S. and China linger on.

Nifty

Stock Snippets

  • Cipla has received final approval for Efavirenz tablets 600mg from the USFDA, for the treatment of human immunodeficiency virus type 1 infection in adults.
  • Infosys share prices rose up by 0.32%. The company announced that it has strengthened its footprint in France by establishing a Digital Center of Excellence in Marseille.
  • For maintenance and repairs works during the development period and construction period of the four laning of Dangiywas to Jajiwal in the State of Rajasthan, Sadbhav Infrastructure Project has signed a Maintenance contract with Sadbhav Jodhpur Ring Road worth Rs.55 crore.
  •  To acquire 14.24% stake in Digikredit Finance, Capital First enters into share subscription agreement.
  • SAIL has supplied around 6K MT of steel material for the 111-km-long Jiribam-Tupul-Imphal new broad gauge railway project in Manipur.
  • On June 21, Board meeting of Manappuram Finance is to consider the issue of NCD on private placement.

Global Markets

  • Japan stocks were higher after the close on Wednesday, as gains in the Machinery, Chemical, Petroleum & Plastic and Mining sectors led shares higher. At the close in Tokyo, the Nikkei 225 added 1.24%.
  • Philippines stocks were lower after the close on Wednesday, as losses in the Holding Firms, Services and Banking & Financials sectors led shares lower. The PSEi Composite lost 0.70%.
  • Taiwan stocks were higher after the close on Wednesday, as gains in the Plastic, Oil, Gas & Electricity and Cement sectors led shares higher. The Taiwan Weighted added 0.21%.

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