Key benchmark indices crawled higher on Tuesday. Gains were capped as surge in domestic inflation numbers dashed hopes of further monetary easing by the central bank. The broader market, however, ended firm amid positive global cues.
India’s inflation,based on monthly Wholesale Price Index (WPI), increased by 2.59% year-on-year in December 2019, accelerating from 0.58% in November and 3.46% in December 2018.
SoftBank-backed Oyo Hotels and Homes is laying off hundreds of employees in India, according to a source and an internal memo seen by Reuters, European shares treaded water on Tuesday, as investors awaited the signing of an initial trade truce to end a prolonged U.S.-China tariff dispute, with attention also turning to the fourth-quarter corporate earnings season.STOXX 600 index (STOXX)fell 0.2%.
Shares of India Cements rallied over 6% in the afternoon session after ace investor Radhakishan S Damani increased his stake in the company by 3.43% during the October-December quarter.
Railway Ministry gave approval to IRCTC to operate Ahmedabad-Mumbai Central Tejas Express.
NCLAT has directed the ED and Serious Fraud Investigation Office to verify if JSW Steel is protected from Bhushan Steel and Power Ltd.’s past criminal liabilities.
Infosys partnered with France-based GEFCO to support its digital transformation.
NMDC completed the execution of mining lease agreements of four mines in Chhattisgarh. Mining lease of the aforementioned deposits is valid up to 2035.
Manappuram Finance raised $300 million by allotment of fixed-rate senior secured notes.
ICICI Bank withdrew its application from insolvency proceedings from NCLT against Jai Prakash Power Ventures.
Japan stocks were higher after the close on Tuesday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher.The Nikkei 225 added 0.73%.
China’s Shanghai Composite inched up 0.1%, while the Shenzhen Component gained 0.3%.
Australia stocks were higher after the close on Tuesday, as gains in the Consumer Staples, Metals & Mining and Utilities sectors led shares higher.The S&P/ASX 200 added 0.85% to hit a new all time high.
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