Key benchmark indices snapped three-day losses and ended with sharp gains on bargain hunting amid positive leads from global stock markets. A sharp decline in crude oil prices also supported buying. Rally in HDFC Bank, HUL and ITC boosted key indices higher. The Sensex ended above the psychological 35,000 mark after gyrating above and below that level in intraday trade. The Nifty 50 gained 101.85 points and settled the day at 10628.60. FMCG and Bank sector were the major gainers and Metal and Pharma sector were the major losers of the day.
Italian stocks jumped on Monday on accumulating signs of a climb down from the Italian government whose budget deficit plans had set it on course for disciplinary action from the European Union. European STOXX 600 climbed 1.1%. Mitsubishi Motors Corp’s board will meet on Monday to remove Carlos Ghosn from his role as chairman after his arrest and ouster from alliance partner Nissan Motor Co.
Strides Pharma Science Ltd announced that its board has approved the company’s participation in the Series-B fundraiser of Stelis Biopharma Pvt Ltd (Stelis) with a commitment of US$15mn in a US$100mn fund raising plan.
BEML was awarded contract worth Rs3, 015cr for supply of 378 Metro coaches. The deliveries are scheduled to commence July 2020 until Sep 2022.
Oriental Bank of Commerce intends to divest its stake in its Joint Venture – Canara HSBC Oriental Bank of Commercial Life Insurance at an appropriate time depending on the market conditions
Lupin announced that it has received approval from the United States Food and Drug Administration (USFDA) to market a generic version of SpecGx LLC’s Anafranil Capsules,
Glenmark Pharmaceuticals has been granted tentative approval by the United States Food & Drug Administration (U.S. FDA) for Clobetasol Propionate Foam, 0.05%), a generic version of Olux-E®1 Foam, 0.05%, of Mylan Pharmaceuticals, Inc.
Japan stocks were higher after the close on Monday, as gains in the Paper & Pulp, Warehousing and Rubber sectors led shares higher. The Nikkei 225 gained 0.69%.
China stocks were lower after the close on Monday, as losses in the Retailers, Software & Computer Services and Telecoms sectors led shares lower. The Shanghai Composite fell 0.14%, while the SZSE Component index fell 0.27%.
Taiwan stocks were higher after the close on Monday, as gains in the Hotels; Machinery and Glass sectors led shares higher. The Taiwan Weighted added 1.01%.
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