After starting the day at record high levels, the equity barometers reversed trend and ended near the day’s low on Monday. The Nifty ended the session below the 12,250 level. Investors locked profits after recent steep gains. Firm crude oil prices affected market sentiment. Shares of six public sector undertakings (PSUs) were in action after the NSE announced changes in the Nifty CPSE (Central Public Sector Enterprises) index on Friday, 17 January 2020

Global Markets

Samsung Electronics (KS:005930) Co Ltd on Monday named its youngest president as its new smart phone chief as the firm seeks to defend its lead in the handset market from rising challenges from rivals such as Huawei Technologies Co Ltd. The South Korean firm also promoted the head of its network equipment business, which analysts said got a lift from a U.S. campaign to convince allies to bar Huawei from their networks.

Stock Snippets

Bharti Airtel and Google Cloud announced a partnership to serve the evolving needs of millions of Indian businesses in a rapidly digitizing economy. PNC Infratech declared the L1 (lowest) bidder for National Highways Authority of India’s EPC Project in the State of Uttar Pradesh for a quoted price of Rs 639 crore. Strides Pharma Science’ step down subsidiary, Strides Pharma Inc. (SPI), has received an Establishment Inspection Report (EIR) from the USFDA for its facility in Riviera Beach, Florida, US. Cipla   has received the Establishment Inspection Report (EIR), indicating closure of the inspection after United States Food and Drug Administration (USFDA) inspected Patalganga manufacturing facility of the company from November 4, 2019 to November 13, 2019. Indian Oil has signed an agreement with Cummins Technologies India Pvt Limited for bulk dispensing of Indian Oil’s Diesel Exhaust Fluid (DEF), branded as IOC ClearBlue, in their advanced engines with SCR systems.

Global Markets

 Asian shares neared a 20-month top on Monday as Wall Street extended its run of record peaks on solid U.S. economic data and lashes of liquidity from the Federal Reserve. Japan stocks were higher after the close on Monday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 0.18% to hit a new 52-week high. Australia stocks were higher after the close on Monday, as gains in the Metals & Mining, Materials and Resources sectors led shares higher. At the close in Sydney, the S&P/ASX 200 gained 0.22% to hit a new all time high.

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