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Market Snippet

Domestic bourses indices provisionally settled with modest losses as profit booking emerged after prior 9 days of gains. In early trade domestic stocks drifted higher tracking positive Asian stocks. Volatility ruled the roost in mid-afternoon trade as the indices retreated sharply after hitting intraday high. Bourses hit fresh intraday low in late trade. FMCG sector were the major gainers and PSU bank were the major losers.

Global Markets Update

On Wednesday European shares trimmed, supported by a slew well received company results as the focus turned from geopolitics woes to the first quarter earning season.As French food group Danone(PA:DANO) gained 2.8% after company updates its first quarter sales beat forecasts on the back of strong demand for baby food in China.

Stock Snippets

Lupin receives tentative United States Food & Drug Administration (USFDA) approval for generic Androgel . On Tuesday, NCLT approved Vedanta resolution plan for Electrosteel Steels . Hindustan Zinc is planning to produce 1000 tonnes of Silver in next 3-4 years.

Fortis Healthcare confirmed that the company has availed a secured financing facility upto Rs 160 crore from RattanIndia Finance Pvt Ltd.

On Tuedsday, Ashoka Buildcon has received Letter of Intention from Dakshinanchal Vidyut Vitaran Nigam for orders of Rs 756.79 crore.

A final approval has been granted by the USFDA to Glenmark Pharmaceuticals  for Tacrolimus Ointment.

Cadilah Healthcare has divested its entire shareholding  in Bremer Pharma, Germany .

Dalmia Bharat claims information leakage in Binani Cement bidding process.

Global Markets

Japan’s Nikkei shares were higher after the close Wednesday, as gains in the Chemicals, Petroleum & Plastic, Mining and Food sectors led shares higher. The Nikkei rose 1.42 percent to 22158.20.Taiwan stocks were higher after the close on Wednesday, as gains in Electronic Parts/ components, Machinery and Glass sectors led shares higher. At the close in Taiwan, the Taiwan Weighted gained 0.35%. Australia stocks were higher after the close on Wednesday. Gains in Consumer Discretionary, Energy and Resources sectors lead shares higher. At the close in Sydney, the S&P/ASX 200 gained 0.29%.

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