Domestic stocks ended the volatile session with steep losses as mixed global cues spoiled market participant sentiment. Though Indices opened higher and declined as the session progressed. The Nifty 50 lost 82.05 points and settled the day at 10936.85. The health of the market was weak. On the macro front, the annual rate of inflation, based on monthly WPI, stood at 5.77% for the month of June 2018 as compared to 4.43% for the previous month. IT sector were the major gainer and pharma sector were the major loser of the day.
Strong industrials and pharma stocks helped European shares make hesitant gains on Monday while data showing slowing economic growth from China kept a lid on the market’s progress.
Boeing Co won an order for 14 freight aircraft for a value of $4.7 billion, firing the opening salvo against rival Airbus SE in a contest for business on day one of the Farnborough Airshow.
PC Jeweller tumbled 18.67% after the company announced withdrawal of buyback offer with immediate effect as it did not get NOC from bankers.
Vedanta Limited identified as the H1 qualified interested bidder’ as per the bid process of the consortium of lenders of GMR Chhattisgarh Energy Limited (GCEL) for sale of controlling equity stake and restructuring of debt in GCEL.
Aurobindo Pharma signed definitive agreement to acquire Apotex’ businesses in Poland, Czech Republic, Netherlands, Spain & Belgium for 70 million euro.
GAIL (India) enunciated that Narendra Modi on 14 July 2018 dedicated to the Nation the Varanasi City Gas Distribution (CGD) network which will supply environment friendly natural gas to households, transport sector and industries in the city through the ‘Pradhan Mantri Urja Ganga’.
From UK MHRA (United Kingdom’s Medicines and Healthcare products Regulatory Agency), Lupin has received approval for its Goa facility.
V2 Retail has opened its 66th store at Khatima, Uttarakhand.
Japan stocks were higher after the close on Monday, as gains in the Glass, Precision Instruments and Retail sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 1.85%.
Taiwan stocks were lower after the close on Monday, as losses in the, Electricity and Electronic Parts/Components sectors led shares lower. At the close in Taiwan, the Taiwan Weighted fell 0.43%.
China stocks were lower after the close on Monday, as losses in the Banking, Real Estate Investments & Services and Financials sectors led shares lower.
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