22:48
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INDIAN FACE
INDIAN EQUITY BENCHMARKS continued with its losing streak and closed at their lowest level in two months. Weak global cues and depreciating rupee dragged down the indices. Although Rating Agency FITCH raised its outlook on India’s sovereign rating to ‘stable’ from ‘negative’, but the market ignored the upgrade in the face of too many negative macro data points.
Further, APOLLO TYRES over 25 percent as the market feels that the company’s acquisition of US-based Cooper Tire for USD 2.5 billion will wreck its financials.
Sun Pharmaceutical Industries declined by over 3% after the company said it will pay a lump-sum of around
Rs 3,100crore ($550 million) to settle litigation over sale of the generic pantoprazole drug in the US.
GLOBAL FACE
Asian stock markets retreated for a third day, with shares in Japan coming under heavy selling pressure as traders continued to eye movements in the yen and in the Japanese government bond market.
European stocks remained sharply lower, after the world bank cut its global growth outlook and as uncertainty over whether central banks will roll back stimulus continued to rattle global markets.
U.S. stock pointed to a lower open, ahead of the release of U.S. data, while investors remained cautious amid ongoing uncertainty over the future of the Federal Reserve’s stimulus program.
For more info:-
Stock Tips
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INDIAN EQUITY BENCHMARKS continued with its losing streak and closed at their lowest level in two months. Weak global cues and depreciating rupee dragged down the indices. Although Rating Agency FITCH raised its outlook on India’s sovereign rating to ‘stable’ from ‘negative’, but the market ignored the upgrade in the face of too many negative macro data points.
Further, APOLLO TYRES over 25 percent as the market feels that the company’s acquisition of US-based Cooper Tire for USD 2.5 billion will wreck its financials.
Sun Pharmaceutical Industries declined by over 3% after the company said it will pay a lump-sum of around
Rs 3,100crore ($550 million) to settle litigation over sale of the generic pantoprazole drug in the US.
GLOBAL FACE
Asian stock markets retreated for a third day, with shares in Japan coming under heavy selling pressure as traders continued to eye movements in the yen and in the Japanese government bond market.
European stocks remained sharply lower, after the world bank cut its global growth outlook and as uncertainty over whether central banks will roll back stimulus continued to rattle global markets.
U.S. stock pointed to a lower open, ahead of the release of U.S. data, while investors remained cautious amid ongoing uncertainty over the future of the Federal Reserve’s stimulus program.
For more info:-
Stock Tips
Commodity Tips
Equity Tips
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