We had mentioned in Friday’s closing report that Nifty, Sensex may try to rise. The major indices of the Indian stock markets were volatile and closed with losses over Friday’s close. On the NSE, there were 732 advances, 1,044 declines and 327 unchanged. The trends of the major indices in the course of Monday’s trading are given in the table below:
Sensex and Nifty declined during the morning session of the trade on Monday over weak global cues. Globally, investor sentiments were affected due to rising oil prices over tensions in the Middle East. Investors were also cautious ahead of a crucial meet between US President Donald Trump and his Chinese counterpart Xi Jinping at the G20 summit in Japan on June 28-29
Meanwhile in a major development, Deputy Reserve Bank of India Governor Viral Acharya has resigned six months before the scheduled end of his term, sources said on Monday.
Tech Mahindra Ltd on Monday introduced K2, the first Human Resource (HR) Humanoid, for its Noida Special Economic Zone Campus in Uttar Pradesh, after unveiling it in its Hyderabad campus earlier this month. K2 would take over the routine HR transactions to provide constant assistance to the HR team in creating an enhanced employee experience, the company said in a statement. K2 leverages state-of-the-art Artificial Intelligence (AI) technology and initiates conversation without any need for wake-up commands. It can respond to queries with text display along with speech and can address general HR-related employee queries as well as handle personal requests for actions like providing payslip, tax forms and more.
Oil and Natural Gas Corporation may buy ₹5,615 crore worth of compulsorily convertible debentures (CCDs) of ONGC Petro additions Ltd (OPaL) after failing to find an equity investor for its petrochemicals arm, according to media sources.
The planned tranche of CCDs issued in 2016 is part of a Rs7,286-crore CCD programme of OPal, a joint venture between ONGC (49.4%), GAIL (India) Ltd ( 49.2%), and Gujarat State Petroleum Corp. Ltd (1.4%). OPaL used the proceeds to partially finance project expenditures and repay loans.
Shares of UPL Limited recovered on Monday after analysts said the company will not be impacted much because of the trade tensions between the US and China and the spread of African swine fever, which could impact soybean demand in China.
Glenmark Pharmaceuticals was issued a Complete Response Letter (CRL) by the US health regulator USFDA regarding the new drug application for Ryaltris (olopatadine hydrochloride [665 mcg] and mometasone furoate [25 mcg]), Nasal Spray. The US FDA cited deficiencies in the Drug Master File pertaining to one of the active pharmaceutical ingredients (API) and in manufacturing facilities.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below: