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Live Stock Trading Tips & Market Analysis

Key domestic benchmarks snapped two-day winning streak amid negative global cues. Global stock markets were under pressure as investors appeared to be wary about the fast-spreading coronavirus, which started in the China’s Wuhan city. Investors also turned cautious ahead of the Union Budget on Saturday, 1 February 2020. Among sectors, metal index fell 3 percent followed by bank, energy, FMCG, infra and IT, while pharma index gained over 1 percent.

Global Markets

U.S. drugmaker AbbVie’s $63 billion tie-up with Allergan is getting help from Nestle and AstraZeneca buying up products the Irish-domiciled company is shedding to placate regulators. European stock markets traded strongly lower Monday, in a broad risk off move on the back of the sharp escalation of Chinese measures to curtail the spread of the deadly coronavirus.DAX dropped 223 points, or 1.7%. 

Stock Snippets

BSE has signed a licensing agreement with Intercontinental Exchange.

Shares of Biocon lost 2.8 percent after receiving five observations from the US health regulator for Bengaluru unit. The pharma company informed exchanges that the US Food and Drug Administration conducted a pre-approval inspection (PAI) and GMP inspection of the API manufacturing facility.

Lupin Limited announced the successful completion of the inspection carried out by the UK Medicines and Healthcare products Regulatory Agency (MHRA), the regulatory agency of the United Kingdom (UK) at its three manufacturing units in Pithampur (India).

Cipla Ltd., informed the exchanges Friday post market hours that the United States Food and Drug Administration (USFDA) conducted a cGMP inspection at the company’s API manufacturing facility in Bommasandra, Bangalore from January 20, 2020 to January 24, 2020

BSE has signed a licensing agreement with Intercontinental Exchange.

Global Markets

Japan stocks were lower after the close on Monday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower.The Nikkei 225 fell 2.03%.

Israel stocks were lower after the close on Sunday, as losses in the Oil & Gas, Communication and Technology sectors led shares lower.The TA 35 declined 0.92%.

Saudi Arabia stocks were lower after the close on Sunday, as losses in the Agriculture & Food, Transport and Cement sectors led shares lower.The Tadawul All Share declined 0.71%

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