Indices opened higher and hit fresh intraday high in mid- morning trade. Positive cues from other Asian markets boosted investor’s sentiment. Trading was range bound in early afternoon trade. Benchmarks firmed up further and hit fresh intraday high in mid-afternoon trade.On the economic front, the Wholesale Price Index (WPI)-based inflation, base year 2011-12, increased to 3.2% in March 2019 from 2.9% in February 2019 and 10-month low of 2.8% in January 2019.
The world’s biggest brewer, Anheuser-Busch InBev, has added Citigroup and Bank of America Merrill Lynch to the team of banks working on the sale of its Asia-Pacific business.European shares edged higher in quiet trading on Monday, with bank stocks leading the gains, as Sino-U.S. trade optimism and strong Chinese economic data eased some worries over the global economy. European STOXX 600 index was up 0.1%.
Dr. Reddy’s Laboratories entered into a definitive agreement to acquire a portfolio of 42 approved, non-marketed ANDAs in the US.
India’s power regulator has allowed Adani Power’s Mundra thermal power unit to pass on the higher cost of imported coal that had made the project unviable, as per media reports.
Jet Airways’ 5% stake pledged with SBICap Trustees.Meanwhile, the company in its filing to the exchanges informed that Rajshree Pathy has submitted her resignation as an Independent Director of the company.
Suven Life Sciences, in its filing to the exchanges informed that the company received approval of “Stalking Horse” agreement from the US Bankruptcy Court to buy the assets of Rising Pharmaceuticals through its joint venture partner Shore Suven Pharma Inc.
Alembic Pharma informed that the company received US Food & Drug Administration (USFDA) Approval for Bimatoprost Ophthalmic Solution, 0.03%.
Japan stocks were higher after the close on Monday, as gains in the Transportation Equipment, Communication and Retail sectors led shares higher. The Nikkei 225 gained 1.37% to hit new 3- months high.
Australia stocks were higher after the close on Monday, as gains in the Consumer Staples, Energy and Financials sectors led shares higher.The S&P/ASX 200 added 0.00%.
Chinese stocks rebounded from their worst week of the year amid signs an economic recovery was firming, with large caps climbing and the country’s offshore equities poised to enter a bull market. Sovereign bonds fell. The SSE 50 Index of some of China’s biggest stocks rose 2.2%.
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