Domestic stocks extended gains and hit fresh intraday high in mid-afternoon trade after erasing intraday losses. In early trade, a bout of volatility was seen as the domestic bourses cut losses after a gap down opening triggered by negative Asian stocks. Though Indices recovered sharply in afternoon trade after India’s annual wholesale price inflation slightly eased in March. Realty sector were the major gainers and PSU bank were the major losers.
Global Markets Update
On Monday European shares steadied near 4-week highs as investors expected there would be no immediate escalation in Syria following the weekend’s U.S.-led strike.
Whitebread (L:WTB) advanced 6.3% after US activist investor Elliott management announced that it now held the largest stake in coffee-shop operator.
USFDA gave permission for allergy drug, Loratadine Tablet to Aurobindo Pharma.
Strides Shasun(STAR) gets USFDA permission for Cyproheptadine Hydrochloride tablets.
A tolling agreement is signed by Indian Oil corporation (IOC) with Dharma LNG Terminal Pvt Ltd(DLTPL) for booking 3 million tonne per annum of regassification capacity at the latter’s 5 mtpa LNG terminal.
At Baharaich Khash Pargana, Bahraich, Uttar Pradesh, V2 Retail has launched one operational store. This takes total number of stores in operation to 51.
To fund capex plan, Reliance Industries has raised Rs 3250 crore from Japanese Banks.
Tata Steel has recorded highest ever output for the FY-18 with 12.48 million tonne production mainly on the back of robust performance at Kalinganagar plant.
On Monday, shares of Alok Industries hit lower circuit of 5% after lenders to the company reject a revised offer by Reliance Industries.
Japan’s Nikkei shares were higher after the close on Monday, as gains in the shipbuilding, Machinery and Banking sectors led shares higher. The Nikkei rose 0.26 percent to 21835.53 .
Taiwan stocks were lower after the close on Monday, as losses in the Oil, Gas & Electricity and Computer & Peripherals sectors led shares lower. At the close in Taiwan, the Taiwan Weighted fell 0.10%.
Australia stocks were higher after the close on Monday. Gains in the utilities, Energy and resources sector lead shares higher. At the close in Sydney, the S&P/ASX 200 gained 0.21%.
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