Asian stocks

Asian stocks edged up following record closes in Wall Street benchmarks after encouraging economic data, although investors kept an eye on developments in the coronavirus outbreak.

Reliance Industries fell by over 1 per cent to Rs 1,464.45 per share while metal majors Tata Steel and Hindalco slipped by 1.4 per cent and 1.06 per cent respectively.

Banking majors too retreated with IndusInd Bank edging lower by 3.2 per cent, HDFC Bank by 2.5 per cent and State Bank of India by 2.4 per cent. HDFC, Tata Motors and Bharti Airtel dropped between 2.2 and 2.5 per cent.

Among stocks, index heavyweight Reliance Industries slipped by 2.08 per cent to trade at Rs 1,565.80 per share. The others in negative zone included Coal India, Nestle India, HDFC Bank and Adani Ports.

IT major Tata Consultancy Services added gains of 1.5 per cent. Tech Mahindra too ticked up by 1.4 per cent, Wipro by 1 per cent, Infosys by 0.9 per cent and HCL Technologies by 0.7 per cent.

IT majors showed some gains with Tata Consultancy Services up by 1.5 per cent at Rs 2,043 per share. Tech Mahindra added gain of 1.3 per cent while Infosys moved up by 0.7 per cent.

Auto major Maruti Suzuki too traded 2 per cent higher, Tata Motors by 1.7 per cent, Eicher Motors by 0.9 per cent and Mahindra & Mahindra by 0.7 per cent. The other prominent gainers were Zee Entertainment and Yes Bank.

State Bank of India gained by 2.9 per cent to trade at Rs 314.90 per share while ICICI Bank and Kotak Mahindra Bank were up by 0.8 per cent each. The other prominent gainers included Bharti Infratel, Bharti Airtel, Maruti, Tata Steel and Hindustan Lever.

Among stocks, Bharti Infratel fell by 7.2 per cent at Rs 202.50 per share while Bharti Airtel was down by 3.1 per cent. IndusInd Bank slipped by 3.5 per cent, State Bank of India by 1.3 per cent, Tata Motors by 2 per cent and Britannia by 1.6 per cent.

US President Donald Trump said a day earlier that a trade deal with China was close but gave no new details on when or where an agreement will be signed.