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The market barometers snapped three-day losing streak after a volatile session on Thursday. The Nifty managed to close above the 12,150 level. Trading was volatile on account of weekly index expiry on the NSE. Global stock markets declined amid increasing concerns over the spread of the mysterious coronavirus that has infected hundreds in China. Domestic shares, however, got a boost after crude oil prices fell to their lowest in seven weeks as the coronavirus outbreak in China could trigger slowdown in air travel.

Global Markets

Macquarie’s chief executive and her predecessor are among 60 present and former staff to be named as suspects by German authorities, the Australian bank said. European shares fell in early trading on Thursday, hit by worries over the spread of a new flu-like virus in China, with investors also bracing for the European Central Bank’s first policy decision of the year. The pan-European STOXX 600 (STOXX) index dropped 0.4%.

Stock Snippets

KEC International has secured new orders of Rs 1,255 crore across its various businesses. Laurus Labs has received an Establishment Inspection Report (EIR) (for the Pre-Approval Inspection) from US Food and Drug Administration (USFDA) for its Unit-2 (FDF&API integrated facility) located at APSEZ, Atchutapuram, Visakhapatnam, Andhra Pradesh. Shares of Yes Bank surged almost 8 percent on January 23, buoyed by reports that the State Bank of India (SBI) Chairman Rajnish Kumar subtly indicated the private lender will not be allowed to fail. Alembic Pharmaceuticals Limited (Alembic) today announced it has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Bimatoprost Ophthalmic Solution, 0.03%. Dilip Buildcon has executed the EPC agreement with the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for EPC Project in the state Uttar Pradesh.

Global Markets

 The Shanghai Composite Index settled 2.8% lower after the close of trading, its worst end to a Lunar Year in its three-decade history. Japan stocks were lower after the close on Thursday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower. The Nikkei 225 declined 0.98%. Australia stocks were lower after the close on Thursday, as losses in the Industrials, Energy and Gold sectors led shares lower. The S&P/ASX 200 lost 0.63%.

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