Asian equities were set to pull back on Wednesday as heightened concerns about coronavirus infections and the timing for a vaccine outweighed the lift from rebounding oil prices and upbeat corporate earnings in Europe.
The S&P 500 closed lower after a choppy session on Tuesday as investors took profits following a warning from the top US infectious disease expert that premature moves to reopen the nation’s economy could lead to novel coronavirus outbreaks and set back economic recovery.
Dow Jones Industrial Average fell 1.73% to end at 23,803.51 points, while the S&P 500 lost 1.87%, to 2,875.46. The Nasdaq Composite dropped 1.86%, to 9,021.36.
🎯 News & Impact 🎯
April retail inflation eases to 5.84% from 5.91 recorded in March.
March industrial production contracts 16.7%
Major Results Today : Maruti, Drreddy
Results Updates
🎯 Nestle India Q1 :
Profit rose to Rs 525.43 cr versus Rs 462.74 cr, revenue jumped to Rs 3,325 cr versus Rs 3,003 cr YoY.
🎯 Havells India Q4 :
Profit fell to Rs 177.7 cr versus Rs 199 cr, revenue declined to Rs 2,217.4 cr versus Rs 2,754.77 cr YoY.
🎯 Blue Star Q4 :
Profit plunged to Rs 8.38 cr versus Rs 77.55 cr, revenue fell to Rs 1,299.4 cr versus Rs 1,596 cr YoY.
🎯 IndiaMart InterMesh :
Profit rose 57% to Rs 44 cr, revenue jumped 23% to Rs 170 cr YoY.
🎯 Banking & Insurance :
Markets regulator SEBI on Tuesday gave relaxation to listed banks and insurance companies for publishing consolidated financial results for June quarter in the wake of coronavirus pandemic.
🎯 Vedanta :
Company's promoter group has offered to acquire all the public shareholding at a price Rs 87.50 a share, and delist the company from the BSE and NSE.
🎯 Aurobindo Pharma :
Company gets US FDA nod for Ibuprofen tablets & Azelastine Hydrochloride nasal spray.
🎯 Jubilant Life Sciences :
Company has signed a deal with Gilead for production of Remdesivir to fight COVID-19. It will now have rights to sell Remdesivir to 127 countries.
🎯 NMDC :
Company has reduced prices of ore lumps and fines by Rs 400 per tonne to Rs 2,250 per tonne.
Negative for the stock.
🎯 Indo Amines :
NCLT approved amalgamation of Core Chemicals and Key Organics with the company.
🎯 Apollo Tricoat Tubes :
Promoter Lakshmi Metal Udyog acquired 14.7 lakh shares on May 11.
Positive for the stock. 👍
🎯 Agro Tech Foods :
Rakesh and Rekha Jhunjhunwala cut stake to 5.75% in Q4FY20 from 7.41% in.
🎯 Uflex :
Promoters released pledge of 2.5 lakh shares on May 11.
Positive for the stock. 👍
🎯 Emami :
Promoters created pledge of 23.7 lakh shares on May 11.
Negative for the stock.
🎯 Sun Pharma Advanced Research :
Promoters released pledge of 24 lakh shares on May 8.
Positive for the stock. 👍
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Edited by Sharp.
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