Key equity benchmarks advanced for second day on Wednesday. The Nifty 50 index managed to close above the 12,200 mark. Gains were supported by positive global shares as concerns over the ongoing coronavirus outbreak abated. While the Hindustan Unilever was the best performer, Yes Bank was the worst performer in the 50 share index. Industrial Production for December 2019 and consumer price inflation rate for January 2020 will be declared today, 12 February 2020.

Global Markets  

Nissan Motor Co may report its first quarterly loss in more than a decade on Thursday because of slumping sales. European shares hit a record high for the second straight session on Wednesday, as a drop in new coronavirus cases prompted buying in China-focused stocks, even as investors remained wary of the epidemic’s economic impact. The pan-European STOXX 600 index (STOXX) rose as much as 0.4%.

Stock Snippets

Wockhardt in its board meeting held on February 12 has considered and approved the transfer of business to Dr Reddy’s Laboratories on a  a slump sale basis.

Sun Pharma Advanced received complete response letter for Taclantis from USFDA

IRB Infrastructure Developers Ltd (IRB Infra) informed the exchanges today that the Project implemented by wholly-owned SPV of the Company viz. IRB Westcoast Tollway Limited (SPV), has been issued a Provisional Completion Certificate by the Competent Authority.

SBI and ICICI Bank have filed proceedings against Mercator under the Insolvency Act to recover the dues.

Reliance Naval & Engineering received a show-cause notice from the Ministry of Defense, for termination of contract relating to 5 Naval Offshore Patrol Vessels.

Moody’s changed its outlook on IndusInd Bank to ‘Negative’ from ‘Stable’ to account for the risk of further asset quality deterioration.

Global Markets

Japan stocks were higher after the close on Wednesday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher. The Nikkei 225 rose 0.74%.

China’s Shanghai Composite slipped 0.1%. The Shenzhen Component gained 0.6%. Hong Kong’s Hang Seng Index also rose 0.5%.

Australia stocks were higher after the close on Wednesday, as gains in the Financials, Consumer Discretionary and Healthcare sectors led shares higher. The S&P/ASX 200 gained 0.47%

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