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Market Snippet

In highly volatile session of trade, Domestic bourses logged small losses. Domestic stock began trading on downbeat note following weak Asian stocks. After an intraday pullback, Key Indices once again resumed decline on fresh selling in Index pivotal. Though in late trade, Indices reverse trend and trimmed the losses. The market breadth was negative. Nifty 50 lost 18 points and settled at 10614.35. PSU Banks were the major gainers and Pharma sectors were the major losers of the day.

Global Markets

European equities fell investors mulled the possibility of a new Italian election as early as July. European STOXX 600 index was down 0.2%. Royal Bank of Scotland announced departure of its finance chief on the day of its AGM, amid speculation the British government will soon sell some of its controlling stake in the bank.

Relaince communication (RCOM) share prices boost 4% after it reached Rs 232 crore settlement with minority investors of its tower unit and moved closer to resolving a dispute over dues with Sweden’s Ericsson.

From Wednesday, INDIGO passengers have to pay more for flights as the airline has levied fuel surcharge of up to Rs 400 to offset the impact of rising fuel prices.

Fortis Healthcare has started fresh bidding process. Moreover, Munjal-Burman’s offer stands mutually terminated by Board members.

Bank of Baroda looking out for buyers to sell NPAs worth Rs 2,954.28 crore.

Through issue of FCCBs, ADRs, GDRs and issue of equity-related securities, Aban Offshore to consider raising of long-term funds.

Reliance Infratel settles a dispute with the investor; withdraws the petition for asset sales.

IOC share prices trimmed losses marginally after the company said that auto fuel prices were each cut by just one paisa a litre.

Global Markets

Japan stocks were lower after the close on Wednesday, as losses in the Shipbuilding; Paper & Pulp sectors led shares lower. The Nikkei 225 fell 1.52% to hit a new 1-month low.

Philippines stocks were lower after the close on Wednesday, as losses in the Banking & Financials, Property and Holding Firms sectors led shares lower. The PSEi Composite fell 1.74% to hit a new 52-week low.

Taiwan stocks were lower as losses in the, Electricity and Auto sectors led shares lower. At the close in Taiwan, the Taiwan Weighted fell 1.30%.

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