Key benchmark indices logged modest losses led by slide on selling pressure in index pivotals.Global stocks dropped as resurgent trade worries worsened investor fears about global economic growth. Volatility rose in late trade after the Reserve Bank of India (RBI) announced monetary policy.The Monetary Policy Committee (MPC) decided to keep the policy repo rate unchanged at 6.5% The Nifty 50 lost 86.60 points and settled the day at 10782.90. IT sector were the major gainer and Metal sector were the major loser of the day. Global Markets
Worries about U.S. bond markets signaling an impending recession and a still rumbling trade war between the world’s two biggest economies sent European shares sinking further on. European STOXX 600 was down 1.2%. Takeda Pharmaceutical shareholders approved $59 billion takeover of London-listed Shire, creating a global powerhouse with a stronger drugs pipeline but one that is saddled with massive debt.
Tata Motors come in limelight as S&P downgraded Jaguar Land Rover to ‘BB-’ from ‘BB’, Rating remain on watch ‘Negative’, due to weaker profitability.
Bharat Forge share prices hits 52 week-low as total sales of North America trucks for November declined by 15% at 27,900 units compared to the same period last year and marks the lowest sales since September 2017
ONGC has received a payment of $32mn from Petroleos de Venezuela (PDVSA) as part of a settlement of outstanding dividend payments
Lupin share prices fell 2.37% after the company said that US drug regulator has made a total of 22 observations after inspection of its facilities located at Mandideep in Madhya Pradesh
Maruti Suzuki India announced that over the past year, the cost of Company’s vehicles has been impacted adversely due to increase in commodity prices and foreign exchange rates, etc.Hence, the company decided to hike prices in January 2019.
Japan stocks were lower after the close on Wednesday, as losses in the Shipbuilding, Banking and Chemical; Petroleum & Plastic sectors led shares lower. The Nikkei 225 fell 0.53%.
China stocks were lower after the close on Wednesday, as losses in the Telecoms, Mobile and Oil Equipment Services & Distribution sectors led shares lower. The Shanghai Composite fell 0.61%, while the SZSE Component index lost 0.32%.
Taiwan stocks were lower after the close on Wednesday, as losses in the, Semiconductor and Optoelectronic sectors led shares lower.The Taiwan Weighted declined 1.65%
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