Domestic market crashed amid broad based selloff after Wall Street’s worst losses in eight months triggered a surge of global selling that knocked over Asia too. The Nifty 50 lost 225.45 points and settled the day at 10234.65. PSU banks and Metal sector were the major losers of the day. Investors are turning their attention to Chinese trade data due Friday for a read on whether the trade dispute is seeping through in the data. They’ll also be keeping an eye on inflation data scheduled for Thursday in the US.
European sharzes fell to their lowest level in more than 20 months on Thursday following a rout on Wall Street as jitters over rising U.S. Treasury yields sparked a broad selloff of risky assets. Apple Inc is to buy part of Dialog Semiconductor Plc’s business in a $600 million deal, expanding the iPhone maker’s chip operations in Europe and securing the German-listed company’s role as a supplier to the U.S. tech group.
Aurobindo Pharma share price was down 0.6% with the stock coming off day’s low after the company announced securing USFDA approval for Azithromycin Oral Suspension.
ONGC is planning to purchase 27 drilling rigs to replace about half of its ageing oil rigs in a deal that would cost Rs3,000-3,500cr. The state-run explorer has floated a tender to seek bids from interested suppliers by November 14.
PTC India has inked fresh agreements for supplying 200MW power to Bangladesh for 15 years. Moreover, PTC will add more than 1.5bn units to its existing supply of 7bn units with Bangladesh, Bhutan, and Nepal.
Oil India has made two hydrocarbon discoveries in Dibrugarh and Tinsukia district in the Upper Assam Basin, during Q2FY19, in wells West Lohali -1 and Dhakuwal-I, respectively.
GMR Infrastructure announced that its subsidiary-Kakinada SEZ Ltd had signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Gas Development Corporation (APGDC) to get access to piped domestic natural gas for its upcoming 10,500-acre zone.
Philippines stocks were lower after the close on Thursday, as losses in the Holding Firms, Property and Services sectors led shares lower. The PSEi Composite fell 1.67% to hit a new 52-week low.
Japan stocks were lower after the close on Thursday, as losses in the Communication, Trading and Paper & Pulp sectors led shares lower. The Nikkei 225 lost 3.96% to hit a new 1-month low.
Taiwan stocks were lower after the close on Thursday, as losses in the Optoelectronic and Glass sectors led shares lower. The Taiwan Weighted fell 6.31% to hit a new 52-week low.
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