After languishing in negative terrain for most part of the session, key benchmark indices witnessed a sharp recovery in the mid-afternoon trade. Recovery was backed by gains in HDFC, TCS, Infosys and HDFC Bank. The Nifty 50 gained 77.85 points and settled the day at 11008.30. PSU banks were major gainers and Realty sector were the major losers of the day. On the macro front, India’s manufacturing economy recorded an improvement in growth during September amid firmer gains in new orders, output and employment.
European shares rose on Monday morning as optimism on the trade war front was lifted by a new U.S. Mexico-Canada agreement, which is helping world markets enter the fourth quarter on a positive footing.The euro zone benchmark was up 0.4%. Danske Bank appointed an interim chief executive on Monday as it sought to reassure investors rattled by a $235 billion money laundering scandal.
Share prices of Tata Power surged up 2.7% after the company said its subsidiary completed the refinancing of its outstanding ECB loans amounting to Rs 5,500 crore.
Kalpataru Power Transmission (KPTL), a leading global EPC player in the power and infrastructure contracting sector informed that the company has received new orders of Rs 1,145 crore.
Larsen & Toubro has won orders worth Rs 7,489 crore. The company has received a major order from the Municipal Corporation of Greater Mumbai (MCGM) for the construction of the Mumbai Coastal Road Project (MCRP), Packages 01 & 04.
Cadilah Healthcare, Ahmedabad-based global pharmaceutical company, has received the final approval from USFDA to market Desoximetasone Cream USP (US RLD — Topicort Cream), 0.25%.
V2 Retail has opened one operational store at Kazichack, Near Bank of India, Barh, Bihar. With this, the company now operates a total of 70 stores.
Bajaj Auto share prices was up 1.97% as the company revealed its total motorcycle sales rose 17% to 430,939 units in September 2018 over September 2017.
Philippines stocks were lower after the close on Monday, as losses in the Industrials, Holding Firms and Mining & Oil sectors led shares lower.The PSEi Composite fell 0.75%.
Japan stocks were higher after the close on Monday, as gains in the Paper & Pulp, Shipbuilding and Communication sectors led shares higher.The Nikkei 225 added 0.55% to hit a new 5-year high.
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