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Key equity benchmarks ended with strong gains on Thursday, supported by IT and private sector banks. On NSE, the May 2019 Futures and Options (F&O) contracts expired today, 30 May 2019. The barometer index, the Nifty 50, rose 84.80 points to 11945.90, as per the provisional closing data. IT sector were major gainer and Metal sector were major loser of the day. On the political front, Narendra Modi will take oath as the Prime Minister of India for the second consecutive term at Rashtrapati Bhavan at 19:00 IST today, 30 May 2019.

Global Markets

PVH Corp cut its annual profit forecast by 10 cents a share on Wednesday as the Calvin Klein and Tommy Hilfiger brands owner grapples with tariffs and slowing retail growth. Jumps for two of Europe’s biggest newspaper publishers helped European stocks gain early on Thursday, recovering from a more than 3-month closing low a day earlier as trade concerns continued to weigh on stock markets, the STOXX 600 was up 0.3%.

Stock Snippets

Natco Pharma has reached a settlement agreement with Onyx Therapeutics, Inc. on patent litigation related to generic versions of 10mg, 30mg and 60mg of Kyprolis.

Cox & Kings owned MEININGER Hotels has signed an agreement to open a new hotel in Cologne. The hotel will open in the fall of 2022.

DHFL clarified that it has not received any communication from the Enforcement Directorate.

Tata Power Renewable Energy (TPREL), the company’s wholly owned subsidiary, has received a letter of award (LOA) from Gujarat Urja Vikas Nigam (GUVNL) to develop a 100 MW solar project in Raghanesda Solar Park of Gujarat.

Shares of Bharti Airtel gained 2.5% after the company completed amalgamation of Bharti Digital Networks (formerly known as Tikona Digital Networks Private Limited) with Bharti Airtel Limited.

Extending its decline for the fourth consecutive session, shares of Manpasand Beverages hit lower circuit.

Global Markets

Japan stocks were lower after the close on Thursday, as losses in the Paper & Pulp, Food and Chemical sectors led shares lower. The Nikkei 225 fell 0.29% to hit a new 3-months low.

Australia stocks were lower after the close on Thursday, as losses in the A-REITs, Metals & Mining and Resources sectors led shares lower. The S&P/ASX 200 declined 0.74%.

China’s Shanghai Composite and the Shenzhen Component were down 0.9% and 1.3% respectively.

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