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Key equity benchmarks declined on Monday, following a surge in global crude oil prices after attacks on Saudi Arabia’s oil facilities. Nifty opened below 11,000 mark and hit an intraday low of 10,968 in afternoon trade. Later the index trimmed losses and flirted with 11,000 mark but failed to close above that level. Finance Minister Nirmala Sitharaman on Saturday, 14 September 2019 announced a fresh set of relief measures to boost exports and housing sector. The steps failed to cheer investors amid worries of soaring crude oil prices.   

Global Markets

Shares in Airbus and other key French exporters fell on Monday as Europe and the United States edged closer toward tit-for-tat sanctions in a long-running dispute over aircraft subsidies. European shares fell on Monday after four straight sessions of gains as attacks on crude facilities in Saudi Arabia and weak China data dented investors’ risk appetite.European STOXX 600 index (STOXX) fell 0.5%.

Stock Snippets

Mindtree signed an agreement with Atotech, a global leader in surface-finishing solutions for functional, decorative, and electronic applications to help manage their SAP landscap.

Dr. Reddy’s Laboratories announced the launch of Lansoprazole Delayed-Release Capsules USP, 15 mg, an over-the-counter (OTC) store-brand equivalent of Prevacid 24HR Capsules, in the United States market, as approved by the US Food and Drug Administration (USFDA).

The construction arm of L&T has secured orders worth Rs 1,000 to 2,500 crore from prestigious clients across various Indian states for its varied businesses.

Share price of Mahindra and Mahindra (M&M) slipped 1.6 percent after company declared no production days ranging from 8-14 days in various plants of the company.

Share price of Equitas Holdings tumbled over 16 percent on September 16 after market regulator returned the company’s draft scheme.

Global Markets

Asian markets were mixed in morning trade on Monday. Central banks meeting will be in focus this week. China’s Shanghai Composite inched up 0.1%, while the Shenzhen Component dropped 0.2%

Australia stocks were higher after the close on Monday, as gains in the Energy, Gold and Resources sectors led shares higher. The S&P/ASX 200 gained 0.06% to hit a new 1-month high.

Israel stocks were lower after the close on Sunday, as losses in the Banking, Financials and Insurance sectors led shares lower. The TA 35 lost 0.40%.

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