The market rally in Infosys drove benchmark indices higher but broader markets underperformed. The BSE Sensex was up 160.48 points at 38,896.71 and the Nifty50 gained 35.90 points at 11,588.40. The market breadth was in favour of bears. The Nifty Midcap and Smallcap indices slipped nearly a percent each. On the macro front, the annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 2.02% in June, 2019. The all-India general CPI inflation rose to 3.18% in June 2019 (new base 2012=100), compared with 3.05% in May 2019.
More than 2,000 workers at seven Amazon sites across Germany have gone on strike over pay for at least two days. European shares inched higher on Monday, tracking gains in Asian markets on encouraging factory output and retail sales data from China, which provided some respite from worries about slowing global growth. STOXX rose 0.4%.
Shares of DHFL felt 30% after it reported its Q1FY19 numbers. The company posted a net loss of Rs 2, 223cr in Q4FY19.
Tata Consultany services announced a partnership with NXP Semiconductors, to transform the latter’s enterprise supply chain lT operations with ignio and the TCS Private Cloud on alpha architecture.
Sun Pharmaceuticals Industries announced the U.S. launch of Ezallor Sprinkle (rosuvastatin) capsules for the treatment of three types of elevated lipid disorders in people who have difficulty swallowing.
Future Enterprises shares fell 13 percent after the Directorate of Revenue Intelligence arrested the company’s chief financial officer Dinesh Maheshwari for allegedly evading customs duty worth Rs 14.58 crore.
State-owned BHEL said it has inked an agreement with Container Corporation of India (CONCOR) to set up a rail-based logistics terminal at Haridwar.
Asian stocks inched higher after China reported that the country’s GDP growth slowed to the weakest rate in 27 years but factory output rose 6.3% in June, while retail sales rose 9.8% during the month.
The Shanghai Composite and the Shenzhen Component were both up 0.3%. Hong Kong’s Hang Seng Index gained 0.2%
Australia stocks were lower after the close on Monday, as losses in the IT, Telecoms Services and Utilities sectors led shares lower. The S&P/ASX 200 declined 0.65%.
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