-
ALSO READ
Indices end nearly 1% higher, Nifty at 10,583; realty, auto stocks surge Nifty ends below 10,500, Sensex down nearly 300 pts; PSU bank index dips 2% Sensex ends 141 pts higher, Nifty settles at 10,397 levels; IT stocks rise Sensex rises 323 pts, Nifty closes at 10,491; Metal, Pharma stocks rally -
FISCAL DEFICIT: April- January capital spending at Rs 2.64 trillion, at 96.9% of FY18 target of Rs 2.73 trillion. FISCAL DEFICIT: April-January tax revenue at Rs 9.71 trillion, at 76.5% of FY18 target of Rs 12.69 trillion FISCAL DEFICIT: Apr-Jan total spending at Rs 18.39 trillion, at 83% of FY18 target of Rs 22.17 trillion Just in April-January fiscal deficit at Rs 6.77 trillion vs Rs 5.64 trillion year-on-year Sectoral Trend Motilal Oswal Research on UPL We expect UPL to clock 12% revenue CAGR and 14% PAT CAGR over FY18-20 and value the company at 17x FY20E EPS of INR55.6, arriving at a TP of Rs 945. Initiate coverage with Buy.
The benchmark indices were trading lower on Wednesday taking cues from key Asian markets.
In economic data released today, growth in India's factory activity slowed to a four-month low in February as new orders eased and weighed on output after manufacturers raised prices at the fastest pace in a year, a business survey showed on Wednesday.
The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, fell to 52.1 in February from January's 52.4 and was below the 52.8 expected in a Reuters poll.
The market participants will now be looking forward to Fiscal Deficit and Gross Domestic Product (GDP) to be released later in the day.
In the global markets, Asian shares faltered on Wednesday and bonds were sold off as risk appetite soured after comments from new Federal Reserve Chair revived fears about faster rate rises in the US.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2 per cent, on track for a second straight day of losses.
Japan's Nikkei eased 0.2 per cent while South Korea's KOSPI index ticked higher. Australian shares slipped 0.4 per cent.
New Federal Reserve Chair Jerome Powell noted in his semi-annual testimony on Tuesday that the US economy was strong, inflation was ticking higher and that the global backdrop was better than in December.
On Wall Street, the markets turned south on Tuesday with the Dow, the S&P 500 and the Nasdaq falling more than 1 per cent each.
(with Reuters inputs)
AUTO REFRESH ON 
RECOMMENDED FOR YOU