On weak global cues, domestic bourses dropped sharply. However, local stocks opened on flat note and then key indices erased entire gains and were trading a tad lower. Indices extend losses as the session progressed. A selling frenzy in late trade pulled indices to intraday low in late trade. Moreover, the market breadth is extremely weak. Nifty 50 lost 97.75 points and settled at 10671.40. IT sector were the major gainers and PSU Banks were the major losers of the day.
Turkish Airlines is in talks with 12-13 Turkish and Chinese banks to secure between $800 million and $1 billion in financing to construct its facilities at Istanbul’s new airport. Fears over higher global barriers to trade sent European stocks to 11-week lows on Wednesday, The pan-European STOXX 600 (STOXX) extended its opening fall to 0.6%.
Infosys share prices advanced 1.14% after the company said that Infosys Finacle will power Santander UK’s international cash management system.
After the company annunciated that American Capital Assurance Corporation went live with the Majesco P&C Core Suite, inclusive of policy, billing, and claims, the share prices of Majesco jumped up to 1.72%.
Indian Metals & Ferro Alloys said that a group of agitators have once again disrupted operations at the company’s Therubali plant by preventing workers from entering the premises leading to the shutdown of two furnaces.
HCL Technologies share prices increased by 1.32% after the company said it signed a definitive agreement to acquire Germany-based IT and engineering services provider, H&D International Group.
To expand its operations in South Africa across all sectors, Larsen & Toubro Infotech has inaugurated its latest global delivery center in Johannesburg.
Shriram Transport Finance to raise Rs 5,000cr via bonds issue.
Japan stocks were lower after the close on Wednesday, as losses in the Retail, Chemical, Petroleum & Plastic and Marine Transport sectors led shares lower. At the close in Tokyo, the Nikkei 225 fell 0.31%.
Philippines stocks were higher after the close on Wednesday, as gains in the Property, Holding Firms and Banking & Financials sectors led shares higher. The PSEi Composite added 2.41%.
Taiwan stocks were lower after the close on Wednesday, as losses in the, Optoelectronic and Trading & Consumer Goods sectors led shares lower. At the close in Taiwan, the Taiwan Weighted lost 0.38% to hit a new 1-month low.
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