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Benchmark indices traded lower on the very first trading session of the week loosing the last two trading session gains amid the weak sentiments after the US precident statement on Visa issue besides the sentiments were also weak after the release of industrial output data on Friday which fell in oct by 1.9% driven down by a contraction in manufacturing and mining sectors. Nifty ended the session to close at 8183.00. The market witnessed selling all around the sectors with Oil marketing companies, Pharma companies were the major losers of the day.

Global Markets Update

European stocks showed tepid movements on Monday as investors watched the price of crude oil adding 5 percent; also Italy promised to back its oldest bank Monte dei Paschi to push ahead with USD 5.3 billion capital increase.

German Car giant BMW, posted 5.9 percent rise in November sales to 1,77,740 units. Though, its rival Mercedes Benz poised to overtake in sales, marking 12.70 percent rise with 1,82,602 units.

Nifty

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CESC posted marginal rise of 2.5 percent in its Q2 net profit which stood at Rs 242 crore against Rs 236 crore for the same quarter last year. The standalone total income from operations increased to Rs 2,016 crore as against Rs 1,798 crore in the year-ago period.

IRB Infrastructure shares moved higher after company has emerged as a preferred bidder for the project of six laning of Kishangarh to Gulabpura section of NH 79A and NH 79 in Rajasthan on DBFOT (design-build-finance-operate-transfer – Toll) under NHDP Phase V package – I project.

IT stocks were battered down on fears that the US may have stricter norms for H1B visa. The IT index has fallen over 1 percent with TCS   , Infosys   and Wipro   losing around 1-2 percent in today’s trading session.

Titagarh Wagons (TWL) shares moved higher in an otherwise market on NSE as it has received an order from Indian Navy for construction of two fuel barges.

Shares of oil exploration & production (E&P) companies such as ONGC, OIL India have hit their respective fresh 52-week highs on the NSE in early morning trade tracking surge in oil prices.

Global Markets

Japan’s Nikkei 225 surged 0.84 percent on Monday as gains in the Food, Gas & Water and Fishery sectors led shares higher.

Taiwan stocks slipped 0.46 on Monday closing, as losses in the, Hotels and Oil, Gas & Electricity sectors led shares lower.

Australia stocks closed with marginal gains, to hit new six month high on Monday with gains in the Energy, Resources and Utilities sectors.

Iran signed USD 16 billion deal for Boeing passenger jets on Sunday and was looking to book a dozen more Airbus planes to complete one of the biggest contracts with western companies since 1979, Islamic violation.

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