Overseas, most Asian stocks were trading lower Thursday as investors awaited the outcome of high-level trade talks between the U.S. and China, and data on the Chinese economy. U.S. stocks closed higher Wednesday, trimming gains but with the S&P 500 and Nasdaq rising for a fourth straight session.
A third day of bilateral trade negotiations were under way in Beijing, with Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer expected Thursday for more high-level discussions.
US President Donald Trump said Tuesday that he would allow for flexibility on the timeline for a deal with China if an agreement looks close. Meanwhile, Chinese President Xi Jinping is reportedly expected to meet key members of the U.S. delegation on Friday.
Back home,key indices wiped off early gains to end with modest losses in a volatile session yesterday, 13 February 2019. The Sensex regained the psychological 36,000 after sliding below that level in intraday trade. The Sensex fell 119.51 points or 0.33% to settle at 36,034.11, its lowest closing level since 30 January 2019.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 676.63 crore yesterday, 13 February 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 713.10 crore yesterday, 13 February 2019, as per provisional data.
Among corporate news,Yes Bank announced after market hours yesterday, 13 February 2019, that the Reserve Bank of India (RBI) assesses compliance by banks with extant prudential norms on income recognition, asset classification and provisioning (IRACP) as part of its supervisory processes. As part of this process, Yes Bank has received the Risk Assessment Report for FY2018. The report observes NIL divergences in the bank's asset classification and provisioning from the RBI norms.
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