The outcome of the Reserve Bank of India's (RBI) monetary policy meeting will be closely watched. The Monetary Policy Committee (MPC) will conclude its two-day meet today, 5 December 2018. The resolution of the MPC will be announced on 5 December 2018.
Overseas, Asian equities were trading mixed. US stocks plunged on Tuesday, with the Dow Jones Industrial Average tumbling almost 800 points, as a litany of concerns wiped out the rally in risk assets.
Back home,key equities indices snapped six-day rising streak to end with modest losses yesterday, 4 December 2018 due to profit selling. The Sensex fell 106.69 points or 0.29% to settle at 36,134.31.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 55.89 crore yesterday, 4 December 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 521.38 crore yesterday, 4 December 2018, as per provisional data.
Among corporate news,Tata Motors announced that S&P Global Ratings has lowered the credit rating of the company and luxury car unit, Jaguar Land Rover Automotive Plc (JLR), citing weaker profitability at JLR. S&P cut its rating on Tata Motors' issuer credit and senior unsecured notes to 'BB-' from 'BB'. The ratings remain on negative watch. The announcement was made after market hours yesterday, 4 December 2018.
Lupin announced the launch of Silodosin Capsules 4mg and 8mg, having received an approval from the United States Food and Drug Administration (USFDA) earlier. Lupin's Silodosin Capsules 4mg and 8mg; is the generic equivalent of Allergan's Rapaflo. An alpha-1 adrenergic receptor antagonist, it is indicated for the treatment of the signs and symptoms of benign prostatic hyperplasia (BPH). Rapaflo had annual sales of $198.5 million in the US (IQVIA MAT September 2018). The announcement was made after market hours yesterday, 4 December 2018.
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