INDIAN FACE
INDIAN EQUITY BENCHMARK
Benchmark indices ended around half a per cent lower on Monday, dragged down by banking stocks exposed to telecom operators after the government ordered mobile carriers to immediately pay the adjusted gross revenue (AGR) dues.
The S&P BSE Sensex declined 202 points or 0.49 per cent to end at 41,056 levels. HDFC, Reliance Industries (RIL), ITC, SBI, and ICICI Bank emerged as the major contributors to the index's fall while TCS and Infosys gave the much-needed support.
GLOBAL FACE
Asian Market-Markets were mixed in Asia on Monday, with Japan’s benchmark slipping after the government reported the economy contracted 6.3% in annual terms in the last quarter. China’s shares got a boost after the central bank stepped in to help the economy with a rate cut, extra buying of securities and tax cuts.
U.S. Market-U.S. markets will be closed Monday due to the Presidents Day holiday. On Tuesday, Walmart is set to report earnings.
European markets-The Nikkei 225 NIK, -0.69% down 0.6%, while Sydney’s S&P ASX/200 XJO, -0.07% finished flat. South Korea’s Kospi 180721, -0.06% finished flat, while the Hang Seng HSI, +0.52% in Hong Kong climbed 0.5%.
Benchmark indices ended around half a per cent lower on Monday, dragged down by banking stocks exposed to telecom operators after the government ordered mobile carriers to immediately pay the adjusted gross revenue (AGR) dues.
The S&P BSE Sensex declined 202 points or 0.49 per cent to end at 41,056 levels. HDFC, Reliance Industries (RIL), ITC, SBI, and ICICI Bank emerged as the major contributors to the index's fall while TCS and Infosys gave the much-needed support.
GLOBAL FACE
Asian Market-Markets were mixed in Asia on Monday, with Japan’s benchmark slipping after the government reported the economy contracted 6.3% in annual terms in the last quarter. China’s shares got a boost after the central bank stepped in to help the economy with a rate cut, extra buying of securities and tax cuts.
U.S. Market-U.S. markets will be closed Monday due to the Presidents Day holiday. On Tuesday, Walmart is set to report earnings.
European markets-The Nikkei 225 NIK, -0.69% down 0.6%, while Sydney’s S&P ASX/200 XJO, -0.07% finished flat. South Korea’s Kospi 180721, -0.06% finished flat, while the Hang Seng HSI, +0.52% in Hong Kong climbed 0.5%.