Domestic shares ended with decent gains on Monday, after a sharp fall on Saturday, which was triggered due to lack of sufficient stimulus measures in the Union Budget. The Nifty managed to close above 11,700 mark. Gains were capped due to weak cues from other Asian stock markets. The headline seasonally adjusted IHS Market India Manufacturing PMI rose from 52.7 in December to 55.3 in January, its highest level in just under eight years.
Goldman Sachs downgraded ExxonMobil to “sell” following disappointing fourth-quarter results, as the Wall Street bank forecasted the oil and Gas Company will meet only half of its targeted returns by 2025.European stock markets traded marginally higher Monday, rebounding after Friday’s hefty losses, but sentiment remains weak as China’s coronavirus continues to claim victims. DAX gained 49 points.
Nifty50 closed higher at 11707.90 level,+46.05 points, or +0.39 per cent. Nifty Support : 11650 and 11600 Resistance : 11750 and 11800.
