Benchmark indices traded lower as the investors remained cautious ahea of WPI data to be releaed later today. Global markets cues also remained subdued ahead of US inflation report later today. Nifty ended the session to close at 10495.20.
Realty shares were the major gainers of the day and PSU bank shares were the major losers of the day.
Global Markets Update
Automaker Mercedes-Benz will recall 1,480 of its V-Klasse minivans sold in Russia in 2014 and 2015 due to a possible fault with the driver’s airbag, Russia’s standards agency said on Wednesday. European markets opened higher on Wednesday, as investors were looking ahead to a fresh batch of coroporate earnings reports, as well as a preliminary report on euro zone economic growth due later in the day.
NMDC Ltd has posted a net profit of Rs 886.53 crore for the third quarter ended December 31, 2017 against Rs 595.16 crore in the corresponding quarter last year.
Punjab National Bank share price slipped 7.8 percent intraday on Wednesday after the bank detected some fraudulent transactions worth Rs 11,300 crore in its Mumbai branch.
Motherson Sumi Systems Ltd has reported a consolidated net profit of Rs 561.71 crore for the third quarter ended December 31, 2017. The company had posted a consolidated net profit of Rs 547.32 crore in the year-ago period.
NTPC, India’s biggest electricity producer, has won a tender to supply 300 megawatts (MW) of electricity to Bangladesh for 15 years. .Without giving details of the rate at which power will be supplied, NTPC said supply of electricity is likely to commence from June 2018.
Bank of India share price declined 6 percent intraday Wednesday after the double whammy effect of net loss in Q3 and revision in NPA rules.The public sector lender has reported net loss of Rs 2,341.20 crore for the December quarter 2017, against profit of Rs 107.72 crore in year ago.
Japan’s Nikkei share average dropped to a fresh four-month low in choppy trade on Wednesday as investor sentiment was sapped by worries about U.S. inflation data due later in the day.
China stocks rebounded on Wednesday, but volumes were thin as many traders had already left for the week-long Lunar New Year holiday that starts on Thursday.
Philippines stocks were higher after the close on Wednesday, as gains in the Property, Mining & Oil and Services sectors led shares higher.At the close in Philippines, and the PSEi Composite rose 0.33%.
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