Share market Highlights: The domestic headline indices– Sensex and Nifty– started off the week on a postive note despite weak macro cues with the stabilization of crude and rupee providing more confidence to global investors. Sensex closed 307.14 pts higher at 36,270.07, while the Nifty 50 closed 15 pts shy of the crucial 10,900-mark. Kotak Mahindra Bank share price slumped by more than 3.3% to hit intra-day low of Rs 1,214.10, after the Bombay High Court refused to grant stay on December 31 deadline given by the Reserve Bank of India to Kotak Mahindra Bank for promoter stake dilution.
VEDL share price gained by more than 5% on Monday morning after NGT allowed the firm to resume operations in the Toothukudi copper smelter plant. Jet Airways share price slumped 4.8% after reports that turnaround-man Nikos Kardassis has exited the firm.
Asian share markets began the week on a cautious note after soft economic data from China and Europe added to evidence of cooling global growth and reinforced anxiety over the broadening impact of international trade frictions. On Friday, the S&P 500 more than 1.9% to 2,599.95, its lowest close since April 2. The benchmark index has plunged 11.3% from record high levels of its Sept 20.
Back home, the shares of billionaire Sunil Mittal-led telco Bharti Airtel which opened about are trading 0.6% higher will assume focus, as the firm is considering various fund raising options. Fortis Healthcare shares will also be in focus after the firm said on Saturday that Supreme Court ordering a status quo on its deal with IHH Healthcare Berhad does not impact the company’s 31.1% stake sale to the Malaysian firm. The shares are trading slightly up at Rs 142.10. We bring you live updates.