Key equity benchmarks ended higher for the third consecutive trading session. Sharp gains were capped due to weakness in other Asian stock markets. The Nifty ended above 11,900 mark after slipping below that level in intraday trade. Caution prevailed ahead of the presentation of the Economic Survey by the government’s Chief Economic Advisor Krishnamurthy Subramanian on Thursday, 4 July 2019, and that of Union Budget by Finance Minister Nirmala Sitharaman the next day.
Hong Kong’s financial regulator has banned former Goldman Sachs banker Tim Leissner from re-entering the industry for life for his crimes linked to the multi-billion-dollar scandal at the Malaysian state investment fund 1MDB. Hopes that European Central Bank Chief nominee Christine Lagarde would follow the dovish steps of Mario Draghi pushed European shares to a two-month high on Wednesday. STOXX 600 index jumped 0.60%.
Lupin has received approval for its Cinacalcet Tablets, 30 mg, 60 mg, and 90 mg from the United States Food and Drug Administration (USFDA)
Adani Power stated that Supreme Court has announced that a civil appeal by company’s arm Adani Power (Mundra) for cancellation of PPA having 1000MW Capacity with Gujarat Urja Vikas Nigam has been allowed.
RBI imposed a penalty of Rs50 Lakh on UCO Bank, Allahabad Bank, Punjab National Bank each and penalty of Rs25 lakh on Corporation Bank. The penalty imposed due to non-compliance of RBI directives on KYC norms and opening of current accounts.
Graphite India received a nod from Karnataka State Government to close Bengaluru plant. Production has been closed since Feb 21.
Reliance Industries has informed the government’s Empowered Expert Committee (EEC) that it’s investing about Rs1,500cr in its proposed university, Jio Institute, in the next two years to ensure that it creates a world-class centre of learning.
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 lost 0.53%.
Australia stocks were higher after the close on Wednesday, as gains in the Gold, Consumer Staples and A-REITs sectors led shares higher. The S&P/ASX 200 added 0.49%.
Canada stocks were higher after the close on Tuesday, as gains in the IT, Clean Technology and Telecoms sectors led shares higher. The S&P/TSX Composite rose 0.54%.
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