Key equity benchmarks extended losses for sixth straight trading session on Monday, dragged by selling pressure in pharmaceuticals, auto and PSU banks stocks. Negative global cues cues spoiled investor’s sentiment. After opening higher, the Nifty 50 index reversed gains in early trade. Buying emerged at lower levels and pushed the index to fresh intraday high in morning trade. The 50-unit index traded in narrow range with modest gains for most part of the session. Sudden selling pressure in late trade dragged the index below 11200 mark.
Indian private sector lender Yes Bank (NS:YESB) is in talks with Microsoft Corp (O:MSFT) and two other technology companies as it looks to bring in a strategic shareholder as part of a strategy to rake in fresh capital, the Mint newspaper reported on Sunday.The stake sale may fetch the bank around 20 billion rupees ($281.61 million) and could help it work on its digital banking and payment system plans.
Shares of Tata Motors slipped 3 percent intraday after JLR’s UK sales dropped during September month.
Shares of JSW Energy gained 2 percent intraday as the company entered into exclusive talks with GMR Energy for the acquisition of its subsidiary.
Aurobindo Pharma plunged almost 19 percent to touch their 5-year low after reports that the company has received USFDA’s adverse observation for its unit-7.
Shares of BEML rose almost 2 percent after the heavy equipment manufacturer bagged more orders from the Delhi Metro Rail Corporation.
Shares of Container Corporation of India (CONCOR) fell more than 8 percent on October 7 after indications that DGFT may disallow its claims worth Rs 861 crore.
Sun Pharma Advanced Research receives Orphan Drug Designation from the USFDA for Phenobarbital for the Treatment of Patients with Neonatal Seizures
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 declined 0.16%.
Australia stocks were higher after the close on Monday, as gains in the Gold, IT and Healthcare sectors led shares higher. At the close in Sydney, the S&P/ASX 200 added 0.71%.
Israel stocks were higher after the close on Sunday, as gains in the Banking, Communication and Financials sectors led shares higher. At the close in Tel Aviv, the TA 35 added 1.49%.