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Key benchmarks ended volatile trading session with modest gains, supported by firmness in index pivotals Reliance Industries, TCS and HDFC. Key indices opened lower amid mixed global cues and hovered in narrow band in morning trade. Indices sharply pared losses and were trading near flat line in mid-afternoon trade and hit fresh intraday high in late trade. The Nifty settled above pshycological mark of 10900. Pharma sector were major loser and Private Banks were major gainer of the day.

Global Markets

European shares were mixed at the open on Monday as optimism fueled by data showing a buoyant U.S. labor market last week faded while a flurry of corporate news triggered sharp individual moves. European STOXX 600 was down 0.1%. Carmaker Nissan has scrapped plans to build its new X-Trail SUV in Britain and will produce it solely in Japan

Stock Snippets

Shares of Reliance Communication (RCom) slumped 48% after the company decided to propose the debt resolution plan in the National Company Law Tribunal (NCLT) process.

Wipro launched digital solution for television receivers and antennas. It partnered with US-based firm ‘Airwavz.tv’ to cater to the needs of OEMs, ODMs and semiconductor companies.

Larsen & Toubro (L&T) in its filing to the exchanges informed that its arm L&T Construction has secured projects from the Rural Water Supply and Sanitation Department, Government of Odisha.

Shares of Godrej Properties were trading 2% up after the company announced that it would develop six new projects in Pune.

EID Parry sugar unit at Puducherry will close due to non-availability of sugar cane for production.

Hero MotoCorp’s January sales dropped 9% yoy to 5.82 lakh units.

Global Markets

Japan stocks were higher after the close on Monday, as gains in the Chemical, Petroleum & Plastic, Services and Manufacturing sectors led shares higher. The Nikkei 225 added 0.46% to hit a new 1-month high.

Australia stocks were higher after the close on Monday, as gains in the Utilities, Energy and Telecoms Services sectors led shares higher. The S&P/ASX 200 added 0.48%.

Trade was subdued with many of the region’s markets closed for the Lunar New Year. China’s financial markets are closed all week, while those in South Korea are shut until Thursday.

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