Domestic shares advanced for fourth trading session on Thursday after Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) on Thursday refrained from slashing repo rate and maintained an accommodative stance. Sentiment improved after RBI estimated a 6% GDP growth rate for 2020-21 while projecting a 6.2% growth rate for Q3 December 2020. It revised the CPI inflation projection for Q4 March 2020 to 6.5% and 5.4-5% in the first six months of 2020-21 and 3.2% in the third quarter of 2020-21.

Global Markets  

Cost cuts helped Nokia to a surprise rise in its October-December underlying profit although the Finnish telecom network equipment maker flaggedEuropean shares rose to a record high on Thursday as China’s intention to cut tariffs on U.S. goods and a swathe of strong bank earnings energized equity markets.The pan-European STOXX 600 index (STOXX) rose as much as 0.7%.

Stock Snippets

The Centre may direct Indian Oil Corporation (IOC) to buy back its 3 percent stake to bolster government finances as tax collection and divestment targets lag, The Economic Times reported.

Larsen & Toubro Infotech has expanded its engagement with OKQ8 AB Scandinavia. Over the next five years, this engagement will transform applications and infrastructure landscape with services.

Indiabulls Ventures share price declined 2 percent on February 6 after SEBI bars 2 directors of the company from accessing capital market for 1 year

Dilip Buildcon has been declared as L-1 bidder in the tender floated by the National Highways Authority of India for the project in the state of Chhattisgarh.

The US Food & Drug Administration (US FDA) has approved the Abbreviated New Drug Application (ANDA) filed by Granules Pharmaceuticals, Inc., a wholly owned foreign subsidiary of Granules India Limited for Colchicine Tablets USP, 0.6 mg.

Global Markets

Asian markets continued their recovery on Thursday morning following the release of positive U.S. data overnight. The Hang Seng Index surged 2.1%

Japan stocks were higher after the close on Thursday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher. The Nikkei 225 gained 2.38%.

Australia stocks were higher after the close on Thursday, as gains in the Energy, Financials and Healthcare sectors led shares higher. At the close in Sydney, the S&P/ASX 200 gained 1.05%

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