Domestic key benchmark indices declined steeply, tracking negative global cues as fears of a potentially major escalation in the Sino-US trade conflict weighed on investor sentiment, while the rupee depreciated to a fresh low, bolstering inflation concerns.
The market breadth was weak. The Nifty 50 lost 151 points and settled the day at 11438.10. IT sector were the major gainers and Pharma sector were the major losers of the day.
European shares inched up on Monday as banks gained, although trade exposed sectors like autos suffered after U.S. President Donald Trump raised the stakes in the trade dispute with Beijing. European STOXX 600 index added 0.25%. Volkswagen went on trial on Monday to face investors seeking 9.2 billion euro sin compensation, arguing the carmaker should have informed shareholders earlier about its diesel pollution scandal.
Reliance Capital share prices gained 2.65% after the company received Certificate of Registration from the Reserve Bank of India as Core Investment Company.
Ajanta Pharma announced that the NCLT’ did not deem it fit to approve and sanction the proposed Scheme of Amalgamation and Arrangement between Gabs Investments and Ajanta Pharma and their respective shareholders.
Tata Communications has unveiled an advanced cyber security response centre in Dubai. To help customers stay one step ahead of evolving cyber threats in the Middle East region, the cyber security response centre will provide 24/7 cyber security services 365 days a year.
Glenmark Pharmaceuticals rose 2.3% after the company informed that it has secured marketing authorization in Germany for its generic version of Seretide Accuhaler.
Share prices of Tata Global Beverages trading up 3% after restructuring its international operations in order to unlock synergies for the business, optimize costs and streamline operations.
Philippines stocks were lower after the close on Monday, as losses in the Banking & Financials, Services and Property sectors led shares lower. The PSEi Composite lost 0.03%.
Japan stocks were higher after the close on Monday, as gains in the Power, Gas & Water and Railway & Bus sectors led shares higher. The Nikkei 225 rose 0.31%.
Taiwan stocks were lower after the close on Monday, as losses in the, Cement and Optoelectronic sectors led shares lower. The Taiwan Weighted fell 1.12%.
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