Trading for the week began on a subdued note as the key benchmark indices logged modest losses weighed by negative global stocks. In early local stocks edged lower and then stock turned volatile as key indices once again dipped into negative zone and extend losses as the day progressed. The market breadth was weak. Nifty 50 lost 59.40 points and settled at 10762.45. IT sector were the major gainers and PSU bank were the major losers of the day.
European shares sent further into funk on account of latest disputes between United States and other major economies. Europe’s tech sector (SX8P), which is mainly composed of hardware firms more sensitive to trade barriers, plunged 1.2 percent on the news which could herald higher costs for companies.
L&T Technology Services has partnered with California based Cadence Design Systems to launch its new NB—IoT (Narrow Band — Internet of Things) protocol stack nB—on which will be hosted on Cadence‘s Tensilica platform.
Symphony share prices advanced 3% after the company annunciated that it has signed an agreement to effectively purchase 95% equity stake in Climate Technologies, Australia’s leading manufacturer of cooling and heating appliances.
At Bhubaneswar, Odisha, V2 Retail has opened its 62nd store. This is the company’s 6th store in the state.
Biocon share prices advanced 1.7% after the company said its sterile drug product facility received establishment inspection report from the US drug regulator.
To accelerate its international growth, W-Locate, the Singapore-based Internet of Things (IoT) start-up, has selected Tata Communications.
Shares prices of Idea Cellular declined over 3 per cent after reports released that the mega-merger deal of the company with Vodafone India may not meet the expected June 30 timeline.
Japan stocks were lower after the close on Monday, as losses in the Shipbuilding, Paper & Pulp and Automobiles & Parts sectors led shares lower. At the close in Tokyo, the Nikkei 225 lost 0.79%.
Philippines stocks were lower after the close on Monday, as losses in the Holding Firms, Property and Banking & Financials sectors led shares lower. At the close in Philippines, the PSEi Composite declined 1.08% to hit a new 52-week
Taiwan stocks were lower after the close on Monday, as losses in the, Semiconductor and Electricity sectors led shares lower. At the close in Taiwan, the Taiwan Weighted lost 1.04%.
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