After opening lower, key indices extended losses and hit fresh intraday low in mid-morning trade. Indices came off day’s low in early afternoon trade. Benchmarks traded near day’s low in mid-afternoon trade. Indices slumped in late trade as selling pressure intensified. The market exhibited cautious sentiment fearing an escalation in tensions between India and Pakistan in the aftermath of the Thursday’s Pulwama terror attack. The Nifty 50 lost 83.45 points and settled at 10640.95. Realty sector were major gainer and PSUs Banks were major loser of the day.
Japan’s SoftBank Group has provided nearly half of the cash for Abu Dhabi’s state investor Mubadala Investment Co’s new $400 million fund investing in European start-ups. Europe’s stock markets are edging lower Monday, struggling to build on the four-month high they hit on Friday on hopes of action from the European Central Bank to revive the economy. The benchmark Euro Stoxx 50 was down 4.6 points.
BPCL’s arm executed long term liquefied natural gas sale purchase agreement with Mozambique LNG1 for 1MMTPA of LNG for 15 years.
Tech Mahindra withdrew the scheme of merger with its arm ‘Tech Mahindra Growth Factories’ with self. The IT company to consider buyback of shares on February 21.
Jindal Steel & Power has bagged an additional order for supply of 30,000 tonnes of long rails from the Indian Railways.
Larsen & Toubro gained after the company announced that L&T Construction has won a mega contract for design and construction of a major airport.
Maruti Suzuki India started practice of controlling the use of Substances of Concern (SoC) for mass production vehicles. Now, with the implementation of globally acclaimed International Material Data System (IMDS), Maruti Suzuki will be able to meet international norms and quantify recoverable and recyclable materials in its’ vehicles.
Japan stocks were higher after the close on Monday, as gains in the Chemical, Petroleum & Plastic, Rubber and Mining sectors led shares higher.The Nikkei 225 rose 1.82% to hit a new 1-month high.
Australia stocks were higher after the close on Monday, as gains in the Energy, Resources and Metals & Mining sectors led shares higher. The S&P/ASX 200 gained 0.39%.
Chinese stocks gained as investors were encouraged by signs of progress in trade talks and strong January credit data. The benchmark Shanghai Composite Index rose 1.7%.
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