Trading for last session of calendar 2018 began on a positive note. Key benchmark index continued to trade with modest gains in morning trade. Indices trimmed almost entire intraday gains in mid-morning trade. Stocks reversed intraday gains to sink in negative zone in early afternoon trade. The index regained zone in afternoon trade. Indices hovered with small gains in afternoon trade. The index once again sinks in negative zone in late trade. The Nifty 50 gained 2.65 points and settled at 10862.55.
European stocks trade slightly higher on the final day of 2018. In Europe, the deadlock around Brexit continues to concern investors. On Sunday, UK Trade Minister Liam Fox reportedly said there is a 50-50 chance that Brexit may be stopped if Parliament rejects the government’s divorce deal with the European Union next month. The UK Parliament is set to vote on the Brexit deal in the week starting January 14.
Bank of India informed that the government has decided to infuse Rs10,086cr in the bank as part of Rs28,615cr capital infusion to be done in about half a dozen public sector lenders.
Cipla is recalling 4,800 bottles of Nevirapine extended release tablets used for the treatment of human immunodeficiency virus (HIV) from the American mark
Reliance Industrial Investments and Holdings Limited (RIIHL), subsidary of Reliance Industries, entered into a binding agreement with renewable energy services company Kanoda Energy Systems Private Limited for acquisition of equity shares for a cash consideration not exceeding Rs75cr.
The construction arm of Larsen & Toubro has won orders worth Rs 2,084 crore under the power transmission and distribution business.
Cadila Healthcare rose 1.15% after the company said it received final approval from the US drug regulator to market Clindamycin Phosphate and Be
Markets in mainland China and Japan were closed and other markets in the region had shortened sessions so trading was generally thin. Stocks in Hong Kong rose more than 1% in an abbreviated trading session Monday, as investors were encouraged by signs that the US and China are working toward a trade deal. Still, investors got past the news that manufacturing activity in China contracted more than analysts and economists had expected.
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