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Market Snippet

Domestic bourses rose for a third straight session as a drop in global crude prices and recovery in Rupee boosted sentiment. Trading for the week began on an upbeat note as domestic stocks saw gap-up opening. Key benchmark indices extended gains as the session progressed. The market breadth of the market is strong. After gained 73.60 points, Nifty settled at 10678.85. PSU Banks were the major gainers and IT sector were the major losers of the day.

Global Markets

U.S. private equity giant Blackstone Group is seeking to deepen its exposure to Australian commercial property with $2.3 billion bid for Sydney focused company Investa Office Fund. European stocks rebound on Monday after the failure of anti establishment parties to form a government lifted the euro zone’s peripheral markets with the prospect of fresh elections.

Stock Snippets

Cadila Healthcare has received the final approval from the USFDA to market Nystatin Ointment USP, 100000 units per gram. Basically it is used as an adjunct to treat fungal skin infection and will be manufactured at the group’s Topical manufacturing facility at Ahmedabad.

United Breweries Limited (UBL) launched AMSTEL Beer in its super premium strong beer category.

Larsen and Toubro (L&T) Construction has won a contract for the Electrical & Mechanical Systems Package of Line 6 of Dhaka Mass Rapid Transit Development Project in Bangladesh in joint venture with Japan’s Marubeni Corporation.

Today, MEP Infrastructure Developers  announced that  it has won a toll collection contract from the National Highways Authority of India (NHAI) at the Athur toll plaza in Tamil Nadu for 85 crore.

On 27 May 2018 Narendra Modi inaugurated India’s first 14 lane Expressway – The Delhi-Meerut Expressway (Delhi Section) from Nizamuddin Bridge to UP border, developed by NHAI and Welspun Enterprises under Hybrid Annuity Model.

Global Markets

Japan stocks were higher after the close on Monday, as gains in the Paper & Pulp, Gas & Water and Transport sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 0.14%.

Philippines stocks were lower after the close on Monday, as losses in the Services, Industrials and Property sectors led shares lower. At the close in Philippines, the PSEi Composite fell 0.06%.

Taiwan stocks were higher after the close on Monday, as gains in the Electronic Parts/Components, Other Electronic and Optoelectronic sectors led shares higher.

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