Equity Market Highlights and News

dijaaMarket Snippet:

Benchmark indices traded cautiously ahead of Union Budget 2017 to be presented in parliament on 1 Feb 2017 and lost the gains for the first time in last four days. Broader sentiment was also hit by fears about the impact of US President Donald Trump’s immigration curbs. However significant volatility can be observed in the markets before the key fundamental event of Union budget 2017.Nifty ended the session to close at 8655.35.

The Pharma stocks were the gainers for the day while Auto stocks were the losers of the day.

Global Markets Update:

Novo Nordisk, maker of diabetes drugs, is investing $145 million in a new research center in Britain. It will employ 100 scientists hunting for new ways to treat type 2 diabetes.

Global markets in caution after immigration curbs introduced by U.S. President Trump heightened concerns about the impact of the new administration’s policies on trade and the economy.

indian markwetStock Snippets:

HDFC reported Q3 consolidated profit during the quarter increased 12.8 percent yoy basis to Rs 2,728.66 crore and total income grew by 22.2 percent to Rs 14,981.41crore.Dividend income grew by 31.6 percent yoy basis.

Larsen & Toubro reported 39 percent rise in consolidated net profit at Rs 972.5 crore for the quarter ended December 31, 2016 against Rs 700.34 crore reported for the corresponding quarter last year.

Idea cellular and Vodafone Plc headed for a possible merger. Any merger would be effected through issue of new shares in Idea to Vodafone. The stock of Idea Cellular has surged by 29% intraday.

Grasim Industries Ltd declared Q3 consolidated net profit 7.28 billion rupees whereas consolidated total income from operations 95.77 billion rupees.Also Process of seeking regulatory approvals for merger of Aditya Birla Nuvo with co and listing of financial services business is underway.

Bajaj Finance Ltd declared december quarter net profit 5.56 billion rupees,total income from operations 27.02 billion rupees.Net profit in december quarter last year was 4.08 billion rupees; total income from operations was 20.61 billion rupees.

Global Markets:

Japan equities were lower at the close on Monday, as financial companies tumbled after data showed the U.S. economy grew at a slower-than-expected pace in the fourth quarter.

Asian share markets was thinned by the Lunar New Year and concerns emerging from new administration’s policies on trade and the economy by US President.

Australia equities were lower at the close on Monday, as losses in the IT, Healthcare and Real Estate Investment sectors propelled shares lower.

Indonesia equities were lower at the close on Monday, as losses in the Miscellaneous Industry, Manufacturing and Consumer Industry sectors propelled shares lower.

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