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Market Snippet

On first trading day of the week, local stocks advanced bolstered by the government’s reduction in GST rate on 88 goods and services. Trading started on upbeat note buoyed by the Narendra Modi government winning the no-confidence motion in the Lok Sabha on Friday, 20 July 2018. Indices extended gains as session progresses and fresh buying pushed the indices to hit day’s high in late trade. The Nifty 50 gained 74.55 points and settled the day at 11084.75. FMCG sector were the major gainer and IT sector were the major losers of the day.

Global Markets

Australia stocks were lower after the close on Monday, as losses in the Healthcare, A-REITs and Consumer Discretionary sectors led shares lower. At the close in Sydney, the S&P/ASX 200 fell 0.87%.Shares of China’s ZTE Corp rose as much as 3.8% in Hong Kong on Monday after U.S. lawmakers cut measures from a defense bill that would have reinstated sanctions on the telecommunications equipment maker.

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