Live Stock Trading Market Tips & News For Investors

Market Snippet
Benchmark indices started the week on bearish note as the investigation in PNB fraud case proceeds, the risk of NPA and credit rating degradment increased for public sector banks. Nifty headed southwards before the FEB F&O expiry and ended at 10378.55. Market witnessed selling all around with PSU banks, Realty and Metal shares falling the most. IT stocks registered some buying today.

Global Markets Update
Siemens AG will press ahead with an initial public offering of its health-care unit, as Chief Executive Officer Joe Kaeser unloads another key business at Europe’s largest engineering company.
European shares rose for a fourth straight session on Monday, helped by gains among steel makers such as Tenaris and Outokumpu after the United States government outlined proposals for hefty import curbs.

Nifty

Stock Snippets

City Union Bank shares fell 5.3% to Rs 164 on Monday as somecyber criminals had hacked bank’s systems and transferred nearly $2 million via unauthorised remittances to lenders overseas through SWIFT financial platform.

Shares of Bhushan Steel surged 19.9% to Rs 53.90 to post its biggest intra-day gain since October 23, 2017. Bhushan Steel has got takeover offers from Tata Steel, JSW Steel, and its employees.

Shares of Punjab National Bank (PNB) tanked over 7%, extending the fall for a fourth straight session following the Rs 11,400-crore fraud at one its Mumbai branches.

Shares of Gitanjali Gems continued to fall for the fourth straight session, plunging 10 % as investor sentiment remained muted after the company came under the scanner of various investigating agencies following PNB’s Rs 11,400-crore fraud detection.

Larsen & Toubro ‘s(L&T) construction arm has won orders worth Rs 1,680 crore from Pune Municipal Corporation.The scope of the project includes supply, laying, testing and commissioning of water transmission pipeline.

Global Markets

Japan’s Nikkei share average finished 2 percent high on Monday, as exporters gained following a pullback in the yen. The Nikkei advanced to 22,149.21 points, its highest close since Feb 5 2018.

Shares in Singapore and the Philippines rose 1 percent on Monday, led by financials, as equity markets in the region followed a global recovery afterrecent volatility that stemmed from concerns over rising inflation.

Malaysia jumped as much as 0.9 percent to its highest in two weeks, led by financials and telecoms, and was ontrack for a fifth straight session of gains.

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