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The market edged higher on Tuesday, as investors awaited the central bank’s monetary policy decision scheduled on Wednesday. The Nifty trimmed gains after briefly crossing 11,000 mark as profit booking emerged at higher levels. The Reserve Bank of India (RBI)’s third bi-monthly monetary policy committee (MPC) meeting started on 5th August. The resolution of the MPC will be placed on the RBI website at 11:45 IST on 7 August.  Among sectors, except energy other indices ended in the green led by the infra, auto, bank, metal and FMCG.

Global Markets

HSBC Holdings Plc has agreed to pay nearly 300 million euros to settle a money-laundering and tax fraud case in Belgium. European shares steadied on Tuesday after posting their biggest two-day drop in over 3 years, as upbeat German data soothed some of the nerves around the past week’s escalation of U.S.-China trade tensions.

Stock Snippets

Shares of Dewan Housing Finance Corporation (DHFL) climbed over 10 per cent intraday on Tuesday after the company informed the bourses that the company’s special committee for debt resolution has approved the draft resolution plan that the company has formulated in consultation with the committee and its financial adviser Ernst & Young.

Shares of Granules India rose 1% in the morning trade. The US Food & Drug Administration (USFDA) has approved the Abbreviated New Drug Application (ANDA) filed by Granules Pharmaceuticals, Inc., a wholly-owned foreign subsidiary of Granules India Limited for Amphetamine Sulfate Tablets USP 5 mg and 10 mg.

Interglobe Aviation is trading flat after falling sharply in opening trade after co-founder Rakesh Gangwal said that reports regarding truce within the company were untrue.

Wabco to close operations in five of its plants for three-17 days in August in view of weak demand and customer schedules.

Tata Power’s arm commissioned 70 KW solar rooftop installation at Delhi’s India International Centre.

Global Markets

Japan stocks were lower after the close on Tuesday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower.The Nikkei 225 fell 0.65% to hit a new 1-month low.

Australia stocks were lower after the close on Tuesday, as losses in the IT, A-REITs and Healthcare sectors led shares lower.The S&P/ASX 200 fell 2.44% to hit a new 1-month low.

China’s Shanghai Composite and the Shenzhen Composite dropped 2.7% and 2.4%.. Hong Kong’s Hang Seng Index lost 2.1%.

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