Key benchmark indices ended near the day’s low on Monday. Sentiment took a hit after Moody’s cut 2021 GDP growth forecast to 5.8% from 6.7% earlier. State-run banks, exposed to the telecom operators, tumbled after the Supreme Court refused relief and asked telecom operators to pay adjusted gross revenue (AGR) dues by 17 March. Among sectors, PSU Bank shed 3 percent, while metal, pharma, infra and energy fell 1 percent each. BSE Midcap and Smallcap indices also declined 1 percent each.Global Markets
General Motors Co (N:GM) is retreating from more markets outside of the United States and China, saying on Sunday that it will wind down sales, design and engineering operations in Australia and New Zealand and retire the Holden brand by 2021.
It also said China’s Great Wall Motor Co Ltd had agreed to buy GM’s Thailand car manufacturing plant and an engine factory, a transaction expected to be completed by the end of 2020.Stock Snippets
Dr Reddy’s Laboratories share price touched 52-week high, rising 1 percent intraday on February 17 after audit of company’s Formulations Srikakulum Plant (SEZ) Unit I, Andhra Pradesh by the USFDA, has been completed today with zero observation.
Bharti Airtel share price gained after the telecom operator paid Rs 10,000 crore to the government towards adjusted gross revenue (AGR) liability.
RITES emerges as successful bidder for supply of locomotives, coaches worth Rs 680 crore
Hero MotoCorp launches BS-VI Splendor+, price starting Rs 59,600
Zydus Cadila launches a fast tracked programme to develop vaccine for the novel coronavirus, 2019-nCoV (COVID-19)
Lupin launches bacterial conjunctivitis drug Moxifloxacin Ophthalmic solution.
Asian shares reversed losses on Monday and moved back toward a three-week top as China’s persistent efforts to cushion the blow from a coronavirus outbreak calmed nervous investors, although Japanese stocks faltered on growing recession risks.
Japan stocks were lower after the close on Monday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower. At the close in Tokyo, the Nikkei 225 lost 0.69%.
Australia stocks were lower after the close on Monday, as losses in the Telecoms Services, Consumer Discretionary and Financials sectors led shares lower. At the close in Sydney, the S&P/ASX 200 lost 0.07%.
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