The domestic equity market tumbled, mirroring weakness in other global stock markets. After opening lower, key benchmarks bounced back and hit fresh intraday high in morning trade. Indices came off day’s high in mid-morning trade and swung between gains and losses in early afternoon trade. Indices witnessed steep selling pressure in late trade.The Nifty 50 lost 130.70 points and settled at 11148.20. IT sector were major gainer and PSU Banks were major loser of the day.
Novartis claims of price fixing against its Sandoz generics unit amid a U.S. probe of 20 drugmakers are without merit, with the Swiss company vowing to fight allegations in a lawsuit filed last week. European shares extended losses from the biggest weekly slump this year as the U.S.-China deadlock quelled hopes that the two largest economies will be able to resolve their trade dispute anytime soon.The STOXX 600 index dropped 0.5%.
Larsen & Toubro’s board approved a merger with L&T Shipbuilding Ltd. (a wholly-owned subsidiary).
GAIL said that it has accelerated work for Jagdishpur-Haldia & Bokaro—Dhamra Pipeline project and completed awards worth Rs 10,500cr for line pipe supply and laying.
Tata Steel said that the European Commission’s feedback on JV with Thyssenkrupp said that it is not intending to clear the proposed JV.
PC Jeweller to demerge its export division to separate company – PCJ Gems & Jewellery Ltd.
SRF signed a business transfer agreement with DSM India Pvt. Ltd. for divestment of their engineering plastics business.
Welspun India order sanctioning the scheme of amalgamation of Prasert Multiventure Pvt. Ltd. with the company was pronounced by NCLT Ahmedabad Bench.
Hero MotoCorp launches two new scooters Maestro Edge 125 and Pleasure+ 110.
Japan stocks were lower after the close on Monday, as losses in the Shipbuilding, Communication and Real Estate sectors led shares lower.The Nikkei 225 fell 0.79% to hit a new 1-month low.
The benchmark Shanghai Composite index ended the day down 1.2% and the blue-chip CSI300 index lost 1.7% Australia stocks were lower after the close on Monday, as losses in the Financials, Utilities and IT sectors led shares lower.The S&P/ASX 200 lost 0.21%.
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