Benchmark indices traded choppy with the bearish biasness on the second trading session of the week amid mixed cues from Asian markets after the BOJ (Bank of Japan) kept monetary policy steady and gave a more upbeat view of the economy, reinforcing market expectations that its future policy direction could be an increase not a cut in interest rates. It maintained short-term interest rate target at 0.1%, maintained 10-year JGB yield target around 0%. Nifty closed the session at 8108. IT and Media stocks were the major gainers of the day while Banking shares were the losers for the day.
Global Markets Update
European Markets were mixed on Tuesday DAX traded flat amid monthly German PMI rose from 0.1 to 0.3 percent. CAC and FTSE were mixed ahead increased levels of current account and monthly trade balance.
United States Govt. has proposed a huge penalty of USD 5-7 billion on Credit Suisse to settle a probe over its toxic mortgage securities in the run up to the 2008 financial crisis.
Tata Consultancy Services surged more than 2 percent on intraday after ousted Tata Sons chairman, Cyrus Mistry quits from the board of director’s panel. The move came after a long eight week boardroom battle. Stock closed at Rs 2340.
Deep Industries surged more than 8 percent on intraday in an otherwise range bound marked as the stocks was trading on 37 percent premium over its qualified institutional placements (QIP) prices of Rs 228 per share. Stock marked its closing at Rs 298.65 gaining 2.10 percent.
Wockhardt Ltd soared 3 percent on intraday after UK health regulator UKMHRA has presented the drug maker with GMP certificate for its Daman Unit. Stock closed at Rs 685.40 adding 0.39 percent.
TV Today Network Ltd tanked 5 percent on intraday as the network broadcast group plans to re organize its radio business and will not sell undertake the agreement to sell to Entertainment Network Ltd (ENIL). Stock closed at Rs 262.
Jubilant Life Science Ltd tanked almost 3 percent on Tuesday after the drug manufacturer hiked the prices of its drugs by 15 percent. Stock marked its closing on downside at Rs 603.
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