Accurate Levels and Tips of Equity Market | Stock Report

The equity market barometers ended with decent gains on Tuesday. The Nifty, however, failed to close its above its 50-day simple daily moving average (SDMA) placed at 12,120.39. Global cues were positive as some Chinese factories slowly resumed operations amid the national fight against the novel coronavirus outbreak. The S&P BSE Sensex reclaimed 41,000, while the Nifty 50 settled above 12100 levels.Except FMCG, all other sectoral indices ended higher.

Global Markets  

Daimler reported a 64% fall in 2019 net profit despite record high Mercedes-Benz sales as CEO Ola Kaellenius signed off on more than 5 billion euros in legal and restructuring charges. European shares rose to a record high early as a slowdown in the rate of new infections in the coronavirus outbreak provided some relief, although markets still worried over the wider global economic impact. European STOXX 600 index rose 0.7%.

Stock Snippets

Cipla’s South African arm signed an agreement securing originator and authorized generic brands of an atypical antipsychotic drug, Quetiapine. Cipla to market and distribute the Medicine in South Africa and neighbouring countries.

The US Food & Drug Administration (US FDA) has tentatively approved the abbreviated new drug application (ANDA) filed by Granules Pharmaceuticals, Inc (GPI), for Colchicine Capsules, 0.6 mg.

Tata Global Beverage has changed its name to Tata Consumer effective from February 10.

ITC share price gained 3 percent on February 11 after company hiked prices of cigarettes by 10-12 percent.

Shares of Motherson Sumi Systems rebounded with 1.6 percent gains on February 11 as analysts retained positive stance considering the margin improvement in SMP, though domestic performance was disappointing.

SBI rose 2 percent ahead of SEBI nod for the IPO of SBI Cards

Global Markets

Asian share markets followed Wall Street higher on Tuesday as China’s factories struggled to re-open after an extended break.Japan’s Nikkei was closed for a holiday, although Nikkei futures (NKc1) traded 0.8% firmer.

Australia stocks were higher after the close on Tuesday, as gains in the IT, Telecoms Services and Industrials sectors led shares higher.The S&P/ASX 200 gained 0.61%.

The Shanghai Composite gained 0.3%, while the Shenzhen Component lost 0.2%.

(Click to submit your details) Just one step to get the best trading tips and Recommendation

Leave a Comment

Your email address will not be published. Required fields are marked *