Upcoming Forecast of Daily Equity Market

Market  outlook

Key benchmark indices logged modest losses in a volatile session of trade led by slide in index pivotals Reliance Industries, IndusInd Bank and Kotak Mahindra Bank. Local stocks trimmed gains after a firm start on steady buying demand in index pivotals. Benchmark turned range bound in afternoon trade and then a sudden sell-off pulled the key indices to day’s low in late trade.The Nifty 50 lost 58.30 points and settled the day at 10245.25. Financial service sector were the major gainer and Media sector were the major loser of the day.

Global Markets

Philips shares tumbled the most in more than seven years after the Dutch health technology company’s third-quarter profit missed estimates and growth in the personal-health division was disappointing. European shares rose in early deals on Monday after Moody’s decision to keep Italy’s sovereign rating stable eased worries over a sell-off in the country’s government bonds, boosting shares in Italian banks.

Stock Snippets

Shares of Biocon were trading 3%% up after the company received a positive opinion from the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) for its Ogivri drug.

Share prices of Unichem Laboratories surged 2.4% after the company’s API manufacturing facilities at Pithampur and Roha have received Establishment Inspection Reports (EIRs) from the USFDA indicating closure of inspections at both the facilities.

Indiabulls Housing Finance, Delhi-headquartered mortgage lender, is in spotlight as company is planning to sell all or part of its 18.7% stake in UK-based OakNorth Holdings

Lupin Neurosciences receives marketing authorization for NaMuscla (mexiletine hydrochloride); drug used for symptomatic treatment of myotonia in adults with non-dystrophic myotonic (NDM) disorders.

Hero Moto Corp share prices rose 0.74% after the company launched the new Destini 125 scooter. It aims to fortify the company’s presence in the fast-growing 125cc scooter segment.

Global Markets

Japan stocks were higher after the close on Monday, as gains in the Construction, Chemical and Food sectors led shares higher. The Nikkei 225 added 0.37%.

Taiwan stocks were higher after the close on Monday, as gains in the Oil, Gas & Electricity, Optoelectronic and Electronic Parts/Components sectors led shares higher. The Taiwan Weighted added 0.55%.

China stocks were higher after the close on Monday, as gains in the Travel & Leisure, Software & Computer Services and Technology sectors led shares higher. The Shanghai Composite gained 4.09%, while the SZSE Component index climbed 4.89%

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