Key equity benchmarks reversed early losses and ended with modest gains, amid positive global cues. The gains in the domestic market were led by banking stocks. Global stock markets gained on Chinese central bank’s move to cut its cash reserves to shore up liquidity in Asia’s biggest economy. The Nifty dropped in early trade to hit the day’s low of 10,889.80. It staged a sharp rebound in the morning trade. After flirting with 11,000 mark in the intraday, the index finally managed to end above that level.
Apple Inc (NASDAQ:AAPL) and manufacturing partner Foxconn violated a Chinese labor rule by using too many temporary staff in the world’s largest iPhone factory, the companies confirmed following a report that also alleged harsh working conditions. The claims came from China Labor Watch, which issued the report ahead of an Apple event on Tuesday to announce new iPhone.
Infosys collaborated with Microsoft to enable digital transformation for JG Summit Holdings, Inc, Philippines.
Lupin said it has received approval for its Ethacrynic Acid tablets USP, 25 mg, from the United States Food and Drug Administration.
State Bank of India (SBI) has announced the reduction in its MCLR by 10bps across all tenors.
L&T Construction has secured a prestigious residential project from the City and Industrial Development Corporation of Maharashtra Limited (CIDCO) to construct 23,432 dwelling units with on-site infrastructure works at various locations in Navi Mumbai.
Reliance Industries and BP Plc aim to commence gas production from KG-D6 basin in April-June 2020. The bidding would be conducted on Oct. 10 to sign gas sale pact within 15 days from the closure of bidding process.
Adani Enterprises incorporated Adani Lucknow International Airport on September 6.
Japan stocks were higher after the close on Monday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher. At the close in Tokyo, the Nikkei 225 gained 0.56% to hit a new 1-month high.
Australia stocks were higher after the close on Monday, as gains in the Utilities, Financials and A-REITs sectors led shares higher. At the close in Sydney, the S&P/ASX 200 rose 0.01% to hit a new 1-month high.
Israel stocks were higher after the close on Sunday, as gains in the Oil & Gas, Real Estate and Communication sectors led shares higher. At the close in Tel Aviv, the TA 35 gained 0.63%.
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