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Key equity benchmarks ended with robust gains on Tuesday, supported by steep slide in crude oil prices and positive global shares. Further, RBI monetary policy meet (scheduled on February 6th) is awaited as it will throw light on the inflation trajectory as well as provide economic outlook going forward. Further, decline in oil prices and rupee appreciation is working in favour of the Indian markets. However, concerns regarding coronavirus still persist and we may witness volatility in the short-term.  

Global Markets  

Hong Kong’s Cathay Pacific Airways Ltd plans to cut 30% of its global capacity over the short-term, including 90% of capacity to mainland China as it grapples with a sharp fall in demand due to the coronavirus epidemic. European shares opened higher extending their recovery from a sharp selloff last week that was driven by concerns over a virus outbreak in China.European STOXX 600 index (STOXX) rose 0.6%.

Stock Snippets

TCS has expanded partnership with Walgreens Boots Alliance for digital solutions for 10 years. The contract is valued at $1.5 billion. Walgreens Boots Alliance owns pharma manufacturing, wholesale and distribution companies.

Zee Entertainment Enterprises share price plunged over 6 percent on February 4 after Ministry of Corporate Affairs (MCA) ordered an inspection of the financials of the company.

GMR Infrastructure gained over 2 percent on February 4 after the company signed agreement to operate Bidar Airport.

Reliance Industries (RIL) share price rose 2.5 percent on February 4 as new production from KG D6 project will start by mid-2020.

L&T informed the exchanges via a press release that in a major international competitive bidding process, the Metallurgical & Material Handling Strategic Business Group of L&T Constructions has been awarded an order by Etihad Rail Company PJSC for the Design and Build of Freight Handling Facilities at 7 strategic locations across United Arab Emirates.

Global Markets

Japan stocks were higher after the close on Tuesday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher.The Nikkei 225 rose 0.49%.

Australia stocks were higher after the close on Tuesday, as gains in the Consumer Staples, Consumer Discretionary and A-REITs sectors led shares higher.The S&P/ASX 200 rose 0.37%.

Shares in Italian infrastructure group Atlantia (MI:ATL) rose on Tuesday after the country’s main motorway lobby dropped a court appeal against a government decree that makes it easier to revoke highway concessions.

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