The expectations of a 50 basis point (bps) increase in the federal funds target rate at the upcoming meeting have now risen above 70%. Asian markets too declined on Wednesday, with the MSCI's broadest index of Asia-Pacific shares outside Japan losing 1.38%. Indian shares had extended gains for a second session in a row on Monday, as investment in the Adani group of companies lifted sentiment. Markets were closed on Tuesday.
Foreign institutional investors (FII) bought a net 7.21 billion Indian rupees worth of equities on Monday, extending their buying streak for the third session in a row.
STOCKS TO WATCH
** Allcargo Logistics : Co gets board approval to
buy 38.87% stake in its partners in contract logistics business,
for 3.73 billion rupees.
** Indraprastha Gas : Co signs joint venture
agreement with Genesis Gas to set up smart meter manufacturing
plant for capital expenditure of 1.10 billion rupees.
** NBCC India : Co gets work orders worth 5.41
billion rupees.
** Zydus Lifesciences : Co gets final approval from
U.S. drug regulator for lenalidomide capsules, used for treating
various types of cancers.
** HDFC Bank : Co's non-bank lending unit HDB
Financial Services flags data breach at one of its service
providers which processes customer information.
($1 = 81.6800 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by
Janane Venkatraman)
