Markets tumble from record highs; Budget eyed for cues

Markets tumble from record highs; Budget eyed for cues

European markets were lackluster in early trade as investors waited for cues from fresh economic releases and a slew of corporate earnings. On the contrary, Aditya Birla Capital, DB Corp, Bank of Maharashtra and Multi Commodity Exchange of India figured among those 33 stocks that hit new 52-week lows on NSE on Tuesday.

The BSE Mid-Cap index was down 0.41%. Key indices like Frankfurt's DAX was down by 0.35 per cent, while Paris CAC 40 shed 0.19 per cent in their late morning deals. All the sectoral sub-indices finished in the red on Tuesday with private bank, financial service and IT indices losing more than a per cent each.

In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices underperformed to lose 0.3 per cent and 0.6 per cent, respectively.

Shares of Emami fell over 6% as the company's Oct-Dec performance was below expectations and its operating margins contracted.

FEMA to Stop Shipping Food and Water to Puerto Rico
Ending that aid on January 31 means the agency "believes the immediate humanitarian emergency has subsided", according to NPR . On the other hand, he imposed a 20% income tax on every good and service that comes from Puerto Rico into the United States.

Ester Industries stock jumped 10% after it entered into a long-term agreement with Shaw Industries, USA to supply circa 2,500 tonnes per annum of its Stain Resistant Master Batch to Shaw Industries.

Volatility index India VIX slipped 2.18% at 17.4975.

Bosch, Bajaj Finance and Dr Reddy's Laboratories also stood among the top losers of the day. Asian Paints was the worst performer among the Sensex pack falling 2.22 per cent, followed by Kotak Mahindra Bank. The stock had also underperformed the market over the past one quarter, declining 1.39% as against the Sensex's 9.43% rise.

Globally, Asian stocks finished mostly higher as oil resumed its ascent, Intel reported record quarterly revenue and the US dollar steadied after recent weakness on concerns about trade spurred by President Trump's administration officials.

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