Economy of India

Private lenders Axis Bank and ICICI Bank fell by 1.5 per cent and 1.4 per cent respectively while HCL Technologies, Tata Consultancy Services and UPL traded with a negative bias.

RBI Governor Shaktikanta Das while addressing the media said, Repo rate has been reduced by 75 basis points to 4.4.%...

The telco said that in line with the AGR judgment and various directions issued by the DoT with respect to Spectrum Usage Charges, the company carried out self-assessment from FY 2006-07 onwards up to December 31, 2019, and interest thereon up to February 29, 2020.

The development helped Shanghai blue chips recoup early losses to rise by 0.3 per cent. MSCI's broadest index of Asia Pacific shares outside Japan also moved up by 0.3 per cent.

Among stocks, Bharti Infratel fell by 7.2 per cent at Rs 202.50 per share while Bharti Airtel was down by 3.1 per cent. IndusInd Bank slipped by 3.5 per cent, State Bank of India by 1.3 per cent, Tata Motors by 2 per cent and Britannia by 1.6 per cent.

Among stocks, Eicher Motors was a prominent gainer by moving up 3.8 per cent to Rs 19,948.10. Britannia, Yes Bank, Asian Paints and HDFC were in the green with marginal gains.

In February last year, the two brothers, who were also the promoters of Fortis Healthcare, had tendered their resignation from the company's Board of Directors.

Meanwhile, Asian indices traded marginally higher as market participants watched for developments on the US-China trade front ahead of high-level negotiations.

The MSCI's broadest index of Asia Pacific shares outside Japan added 0.1 per cent. The Shanghai Composite Index was up by 0.4 per cent, South Korea's KOSPI rose by 0.7 per cent and Japan's Nikkei was up by 0.4 per cent.

The Shanghai Composite Index added 0.45 per cent while MSCI's index of Asia-Pacific shares outside Japan gained 0.5 per cent. But sentiment in the wider region remained subdued amid worries about a global recession.