Weakness in Asian stocks may pull down Indian markets in the opening trade. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 24 points at the opening bell.
Meanwhile, at a key monetary policy meeting yesterday, 3 September 2015, the European Central Bank (ECB) cut its growth and inflation forecasts, warning of possible further trouble from China and paving the way for an expansion of its already massive one-trillion-euro-plus asset-buying program. The ECB, which left interest rates unchanged, said growth would suffer from fading momentum in emerging markets, particularly China, and falling oil prices could drag the 19-member euro zone back into deflation in coming months.
In overseas markets, Asian stocks were trading lower today, 4 September 2015. Key indices in Japan, Taiwan, South Korea and Indonesia were off 0.18% to 1.13%. In Hong Kong, the Hang Sensex was up 0.11%. Chinese stock market was shut for a holiday. US stocks closed mixed yesterday, 3 September 2015, as investors eyed fluctuations in oil prices and awaited the final jobs report before the Federal Reserve's key September meeting.
Back home, foreign portfolio investors (FPIs) sold shares worth a net Rs 394.31 crore yesterday, 3 September 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 840.35 crore yesterday, 3 September 2015, as per provisional data.
Among corporate news, Lupin's US subsidiary Lupin Pharmaceuticals, Inc. (Lupin) has launched a generic antidepressant medicine in the United States (US). Lupin's Duloxetine 40 mg delayed-release (DR) capsule is the first and only generic Duloxetine formulation to become available in 40 mg dosage strength in the US. The annual market size of the branded and generic versions of antidepressant Cymbalta 20 mg, 30 mg and 60 mg capsule strengths is approximately $1.05 billion in the US, as per IMS MAT June 2015 data. Lupin made the announcement after market hours yesterday, 3 September 2015.
Wipro announced after market hours yesterday, 3 September 2015, that the company has been chosen by London-based Chelsea Football Club as its official digital and IT partner. As one of the world's leading sports brands, Chelsea Football Club will work with Wipro to create experiences for millions of its fans that span not only the in-stadium, game-day experience but also their digital experience, anytime and anywhere, Wipro and Chelsea said in a joint statement.
A decent recovery was witnessed on the bourses yesterday, 3 September 2015, after share prices witnessed a steep slide recently. The Sensex rose 311.22 points or 1.22% to settle at 25,764.78, its highest closing level since 31 August 2015.
Powered by Capital Market - Live News