Markets surged on the very first trading session of the week amid strong global cues. Domestic investors will now be eyeing on economic data such as Nikkei Markit Manufacturing Purchasing Managers Index (PMI), Fiscal Deficit and Gross Domestic Product (GDP) in this week. Nifty ended at 10600.45.
Realty and Auto shares were the major gainers of the day while IT stocks were the major losers for the day.
Global Markets Update
Deutsche Telekom is expanding their partnership to include Internet of Things (IoT) solutions for real-time logistics. This announcement was made at Mobile World Congress.
European shares opened slightly higher on Monday with gains across bourses and sectors, as focus gradually shifts from the earnings season to monetary policy.
JSW Steel is all set to buy out Italy’s second largest steel producer, Aferpi, formerly known as Lucchini SpA, in a deal worth 600 crore. It produces speciality long products for European railways, bars for specialised auto industry parts and wire rod mills.
The Reliance Group has signed pacts with the Andhra Pradesh Government for investments worth 50,000 crore in the electronics, IT and petroleum sectors, in phases.
Strides Shasun will launch Ranitidine Tablets USP, 150 mg, used to treat peptic ulcers of the stomach and intestine, in the US market.
Share price of Sterlite Technologies rose 10% after the company has been awarded Rs 3500 crore advance purchase order to design, build and manage the Indian Navy’s communications network.
Shares of Oriental Bank of Commerce and Simbhaoli Sugars lost 9 to 20 percent intraday on Monday as investors turned cautious post developments of a likely fraud involving the sugar firm.
Philippines stocks were higher after the close on Monday, as gains in the Banking & Financials, Industrials and Mining & Oil sectors led shares higher.At the close in Philippines, and the PSEi Composite rose 0.38%.
Hong Kong stocks rose to a three-week high on Monday, led by property and utility shares, amid signs mainland investors have ramped up investment in the city.
Japan’s Nikkei share average rose to near three-week highs on Monday, with most sectors advancing as investor confidence continued to improve after Wall Street made steady gains.
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