Domestic shares ended with decent gains on Monday, after a sharp fall on Saturday, which was triggered due to lack of sufficient stimulus measures in the Union Budget. The Nifty managed to close above 11,700 mark. Gains were capped due to weak cues from other Asian stock markets.
The headline seasonally adjusted IHS Markit India Manufacturing PMI rose from 52.7 in December to 55.3 in January, its highest level in just under eight years.
Goldman Sachs downgraded ExxonMobil to “sell” following disappointing fourth-quarter results, as the Wall Street bank forecasted the oil and Gas Company will meet only half of its targeted returns by 2025.European stock markets traded marginally higher Monday, rebounding after Friday’s hefty losses, but sentiment remains weak as China’s coronavirus continues to claim victims. DAX gained 49 points.
JSW Steel has bagged two iron ore mines with a total reserve of 980 million tonnes in the auction in Odisha, as per media reports. The company won Narayanposhi iron block with 190 MT reserve.
BHEL has won an order for the Electro Mechanical (EM) works for the 40 MW Rahughat Hydroelectric Project in Nepal. The order has been placed on BHEL by the Raghuganga Hydropower Limited (RGHPL), a company 100% owned by Nepal Electricity Authority (NEA) the sole public power utility in Nepal and owned by the Govt. of Nepal.
NCC informed the exchanges on Saturday that it has received three new orders totaling to Rs530cr (exclusive of GST) in the month of January, 2O2O. Further, all the three orders pertain to Building Division.
Signing an agreement with the Board of Investment (BOI) of Sri Lanka, HCL Technologies (HCL), a leader in global technology announced the establishment of its global delivery center in Colombo.
Asian shares were dragged to near two-month lows on Monday by Chinese markets, which plunged on their first trading day after a long break on fears the coronavirus epidemic would hit demand in the world’s second-largest economy.
Japan stocks were lower after the close on Monday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower.The Nikkei 225 declined 1.01% to hit a new 3-months low.
Australia stocks were lower after the close on Monday, as losses in the Energy, Resources and Metals & Mining sectors led shares lower.The S&P/ASX 200 fell 1.34%.
(Click to submit your details) Just one step to get best trading tips and Recommendation.