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Domestic bourses took a breather and consolidated after heavy falls following the impact of corona virus as it hit the India too. Global peers rallied today after Bank of England cut the interest rate by 0.50%.Asian markets ended lower following the impact of epidemic. Nifty fut settled at 10455.

Media shares were the major gainers of the day while PSU Banks were the major losers of the day.

Global Markets  

Sportswear Company Adidas fell to the bottom of the German DAX on Wednesday after revealing the scale of the impact it’s facing from the corona virus. European shares rose for the first time in five sessions on Wednesday, as Britain became the latest country to cut interest rates in a bid to contain the economic damage from the corona virus epidemic. The benchmark STOXX 600 (STOXX) was up 1.4%.

Stock Snippets

Reliance Capital group firm Reliance Home Finance has defaulted on loan repayment of Rs 40.08 crore in February.

JSW Steel registered a growth of five per cent in crude steel production at 1.320 MT in February 2020.The company had produced 1.257 million tonne (MT) crude steel during the same period last year.

Welspun Corp has bagged a major offshore pipes supply contract for a project in Australia from Allseas Marine Contractors. The project is owned by a joint venture, which comprises ConocoPhillips Australia, SK E&S Australia and Santos Offshore.

Tata Power would run normal operations at its Mundra plant up to March 20, 2020. The company had last week announced a March 11, 2020, deadline to shut down operations at Mundra owing to a lack of compensatory tariff.

Tata Capital Financial Services, the corporate and retail lending arm of Tata group, will float retail bonds of Rs 5,000 crore to broaden investor base and get durable resources.

Global Markets

Asian markets gave up some of their gains on Wednesday from a rebound a day earlier, despite the possibility of the U.S. rolling out a package of support measures.

Japan stocks were lower after the close on Wednesday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower. The Nikkei 225 declined 2.27% to hit a new 52-week low.

Australia stocks were lower after the close on Wednesday, as losses in the Gold, Financials and Industrials sectors led shares lower. The S&P/ASX 200 lost 3.60% to hit a new 52-week low.

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