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Indian indices ended on negative note but off day’s low on August 5 amid government decided to withdraw Article 370 from J&K. Jammu and Kashmir will be a Union Territory with a legislature, while Ladakh region will be a Union Territory without a legislature, according to the government’s plan for J&K, said Amit Shah. ¬†Among sectors, except IT other indices are ended in the red led by energy (down 2.7 percent) followed by metal, bank, auto, FMCG, infra and pharma.

Global Markets

Berkshire Hathaway Inc’s quarterly operating profit fell more than analysts expected, as weakness in insurance underwriting, a slowing economy and trade woes weighed on the conglomerate run by billionaire Warren Buffett. European stocks slumped with U.S. equity futures on Monday, tracking a sell-off across Asia after China escalated its trade dispute with America as its currency weakened through a milestone level.

Stock Snippets

Maruti Suzuki sent nearly 10% of its contract the workforce at its Gurugram, Haryana plant on a leave without pay.

BEML bagged an order worth Rs834cr for making 21 train sets for MMRDA Mumbai line 2 and 7.

Nestle India said that it would set up its ninth factory in the country at Sanand, Gujarat, with an initial investment of ~Rs700cr over two years.

Pharma major Lupin Ltd. today announced the receipt of the Establishment Inspection Report (EIR) from the USFDA for its Aurangabad facility.

Bharat Heavy Electricals Limited (BHEL) has successfully commissioned one more pumping unit (Unit 5) of 116MW of the 7×116 MW Kaleshwaram Lift Irrigation Scheme (LIS) Package-6 in Telangana.

DHFL defaulted on NCDs interest worth Rs42.77cr and Rs49.25cr, which were due on August 2 and August 3, respectively.

Global Markets

Asian shares suffered their steepest daily drop in 10 months on Monday, as Sino-U.S. trade friction sent the yuan slumping to a more than decade trough and stampeded investors into safe harbors including the yen, bonds and gold.

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 1.74% to hit a new 1-month low.

Australia stocks were lower after the close on Monday, as losses in the IT; Metals & Mining and Materials sectors led shares lower. The S&P/ASX 200 declined 1.90% to hit a new 1-month low.

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