INSUBCONTINENT EXCLUSIVE:
Reliance Industries, HDFC, HDFC Bank and Infosys have gained 1-2 per cent each on the BSEThe markets have build on the previous day's gains,
thanks to the overnight rally in US markets and the return of stability on the Asian Street
The broader markets were also trading on a strong footing; the BSE Midcap index gained 1 per cent at 15,453 and Smallcap index added 1.2 per
week on concerns about the economic impact of coronavirus.The Dow Jones rose 143 points or 0.5 per cent to 28,399, Nasdaq Composite added
122 points or 1.3 per cent to 9,273 and S-P 500 gained 23 points or 0.7 per cent to 3,248.The European markets had edged higher on Monday
to see if Beijing could stem the previous day's market rout
MSCI's index of Asia-Pacific shares outside Japan inched up 0.1 per cent, led by gains in South Korea and Australia
Japan's Nikkei pared opening losses to be off 0.2 per cent.Meanwhile, oil hits 13-month lows as the outbreak of coronavirus curtailed
Chinese demand and sparked concerns of potential supply cuts by OPEC
Brent crude settled down $2.17, or 3.8 per cent at $54.45 a barrel, its lowest since January last year.The markets would be factoring the
monetary policy review, which is due to be announced on Thursday
The general view among analysts is that the central bank would maintain a status quo on the repo-rate front, on February 6, due to the
continuing inflationary pressures.Meanwhile, the employees of Life Insurance Corporation (LIC) of India will hold a nationwide strike on
Tuesday to protest against the government's move to sell stake in the country's largest insurer
Finance Minister Nirmala Sitharaman, in her Budget speech, had announced stake sale of the life insurer through an initial public
offering.At an event organised by Federation of Indian Chambers of Commerce and Industry (FICCI) in New Delhi, the finance minister told
members of corporate India that spending proposed in the Union Budget was being done with a clear picture of asset creation and the
government was taking the most fiscally prudent route in managing the economy of the country.On the results front, Bharti Airtel, Tata
Global Beverages, Thermax, Titan Company, JSW Energy and Punjab National Bank will be releasing their Q3 earnings during the course of the
day.The markets had bounced back in the previous session after three days of persistent fall, with the Sensex closing higher by 137 points
or 0.3 per cent at 39,872 and Nifty settling at 11,707, up 46 points or 0.3 per cent.On the stock-specific front, Reliance Industries, HDFC,
HDFC Bank and Infosys are in the limelight on the BSE, gaining 1-2 per cent each.On the other hand, Bharti Airtel has edged lower by 0.4 per
cent to Rs 508 ahead of its Q3 numbers
Bajaj Auto and Tata Steel are also trading lower between 0.5 per cent and 1 per cent each on the BSE.The market breadth is strong
Out of 1593 stocks traded on the BSE thus far, there are 1146 advancing stocks as against 381 declines.
