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Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 45 points gain or 0.39 percent.

Equity markets bounced back today after three days of continuous fall, showing recovery from budget blues post strong PMI data. Sensex closed 137 points, or 0.34 percent, higher at 39,872.31 and Nifty settled 46 points, or 0.39 percent, higher at 11,707.90.

The manufacturing PMI data for India hit a near eight-year high in January, driven by a sharp rise in new business orders amid a rebound in demand conditions that led to a rise in production and hiring activity.

Global Market:

Asian Markets: – A fragile calm gripped Asian shares on Tuesday as investors waited anxiously to see if Beijing could stem the rout in Chinese assets, while oil hit 13-month lows as the coronavirus throttled demand in the world biggest importer of fuel. MSCI’s broadest index of Asia-Pacific shares outside Japan had inched up 0.1%, led by gains in South Korea and Australia. Japan’s Nikkei pared opening losses to be off 0.2%.

US Markets: – US stocks rallied on Monday, boosted by heavyweight technology shares and on surprise strength in US manufacturing activity, following a sharp selloff last week on concerns about the economic impact from the fast-spreading coronavirus out of China. The Dow Jones Industrial Average rose 143.78 points, or 0.51%, to 28,399.81, the S&P 500 gained 23.4 points, or 0.73%, to 3,248.92, and the Nasdaq Composite added 122.47 points, or 1.34%, to 9,273.40.

European Markets: – Stocks in Europe wobbled on Monday, as markets reacted to actions taken in China to soothe its economy, which is under pressure from the spreading coronavirus.

Major Headlines of the day: –

SRF Q3: Consolidated net profit at Rs 343 crore versus Rs 165.7 crore, revenue up 2.3% at Rs 1,850.5 crore versus Rs 1,808.8 crore, YoY

PNB board granted permission for raising funds through issuance of Basel-III compliant Tier-II Bonds amounting up to Rs 1000 crore in one or more tranches

TCS and Walgreens Boots Alliance, lnc expanded their strategic partnership to advance WBA’s transformation of its global lT function

AstraZeneca Q3: Net orofit down 8.2% at Rs 26.7 crore versus Rs 29.1 crore, revenue up 4% at Rs 223.9 crore versus Rs 215.2 crore, YoY

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

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