After witnessing volatile trades during the day, Indian share markets ended their session marginally lower. Losses were largely seen in the banking sector, consumer durables sector and FMCG sector, while IT stocks ended the day higher.
At the closing bell, the BSE Sensex stood lower by 85 points (down 0.2%) and the NSE Nifty closed lower by 26 points (down 0.2%). The BSE Mid Cap index ended the day down by 0.2%, while the BSE Small Cap index ended the day down by 0.3%.
Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng was down 0.43% and the Nikkei stood up by 0.84%.
The rupee was trading at 69.94 to the US$ at the time of writing.
In the news from global financial space, stocks in Europe were trading higher alongside US equity-index futures after a mixed session in Asia as trade negotiations with China drew a blank. The dollar slipped before an address from Federal Reserve Chairman Jerome Powell.
Investors hoping for good news on global trade were left disappointed after the US talks with China ended with increasing likelihood that tit-for-tat tariffs will escalate.
The focus has now shifted back to Fed policy, with market participants clinging to bets for two rate hikes by year-end.
In the news from the pharma space, Cadila Healthcare share price was in focus today as the company reported that the US Food and Drug Administration (USFDA) completed an inspection at the company’s Biologics manufacturing facility (Zydus Biologics) located at the Zydus Biotech Park in Ahmedabad.
At the closing bell today, Cadila Healthcare share price ended the day up by 1.7% on BSE.
In the news from commodity space, crude oil is witnessing buying interest today. Gains are seen on the back of signs that US sanctions on Iran are already reducing global crude supply.
Note that the US government re-imposed sanctions on Iran this month after withdrawing from a 2015 international nuclear deal.
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