Tracking global peers, domestic stocks ended lower for the second consecutive day on Monday as uncertainties around coronavirus weighed on investor sentiment. The number of deaths from China’s new virus epidemic jumped to 902 after the hardest-hit province of Hubei reported 91 new fatalities.
Nifty fut settled at 12040.05. All major indices were lower at the end of the day and settled in red with Metal and Auto shares decling the most.
Japan’s SoftBank Group is expected to post a slide in profits for the past quarter, deepening concern about its ability to secure funding for a second Vision Fund and giving activist fund Elliott Management more fodder for a shake-up. European shares dipped as concerns over the economic impact of the coronavirus outbreak weighed on sentiment.The pan-European STOXX 600 index (STOXX) fell 0.3%
JSW Steel 2.9 per cent decline in crude steel output at 14.10 lakh tonnes (LT) during January, 2020. The company had posted crude steel output of 14.53 lakh tonnes in the year-ago period.
The power transmission and distribution (T&D) business of L&T Construction has secured orders from clients in India, the Philippines and Saudi Arabia.The projects are estimated to be in the range of Rs 2,500-5,000 crore, the company said in a filing to the exchanges.
Bharat Forge on Monday posted a 81.3 per cent decline in consolidated profit at 40.4 crore for the quarter ended December 31, 2019.The company had posted consolidated profit of 216.9 crore in the year-ago period.
State-owned BHEL on Monday said it has commissioned two units of Kameng Hydroelectric Project (HEP) in Arunachal Pradesh.Kameng HEP is a run-of-the river scheme which will utilise the flow from Bichom and Tenga rivers.
Asian markets were mixed on Monday morning; with Chinese stocks rebounding after data showed China’s producer prices gained 0.1% year-on-year, which was the first pickup since May 2019.
China’s Shanghai Composite inched up 0.2% while the Shenzhen Component rose 0.7%.Hong Kong’s Hang Seng Index lost 0.9%.
Australia stocks were lower after the close on Monday, as losses in the IT, Energy and Materials sectors led shares lower.The S&P/ASX 200 declined 0.14%.
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