Asian markets trade lower

Asian markets were trading lower on Monday morning, led by declines in Japan. Investors sought the safety of yen as they weighed prospects for global growth in the aftermath of US policy tightening and oil rout. Japan’s Nikkei Stock Average was down 1.6%, while Hong Kong’s Hang Seng and China’s Shanghai Composite were trading marginally higher.

Sell-off seen in the US markets

US markets sold off sharply on Friday, with the main indices ending the week lower. The sell-off was largely blamed on continued weakness in the oil market as well as volatility due to options-expiration day. The Dow Jones Industrial Average, Nasdaq Composite and S&P 500 plunged around 2% each.

Recovery in capex delayed

In India, a revival in private sector capital expenditure (capex) is unlikely to happen in 2016 as companies continue to operate at low capacity utilization levels and await clearer signals of a recovery in demand. Larsen and Toubro Ltd expects private capex to remain sluggish in the near term until existing capacities are fully utilized.

Sun Pharma back under US FDA scanner

Sun Pharma Ltd shares will be under pressure after the US Food and Drug Administration issued a warning letter to the company for its Halol plant transfers. The uncertainty of when this plant will be back in the reckoning has stepped up.

ONGC faces prospects of suffering losses

ONGC Ltd shares will be in focus as the oil and gas explorer is facing the prospects of suffering losses as crude price nears its production cost after oil prices slipped below $40 per barrel. ONGC’s proposed 50,000 crore investment in the KG basin and enhanced oil recovery plans are also under threat, reports Mint.

Govt plans to award 28,000 crore worth of highway projects

The roads sector will see some momentum as the government plans to award 28,000 crore worth of highways development projects in the current fiscal under the newly conceived hybrid annuity model amid renewed interest among private companies, reports Economic Times.

HCL Infosystems in reboot mode

HCL Infosystems Ltd is betting big on digital India. It is creating a robust business pipeline, automating operations and appointing leaders for key business functions, reports Economic Times.

IVRCL to carve out two separate companies

IVRCL Ltd shares will be in limelight as it has decided to carve out two separate companies—segregating the build operate transfer and engineering procurement construction (EPC) parts of the business. Through this move, the company hopes it will be easier to find equity investors for the EPC company, reports Mint.

The youngest convict of Delhi gang rape freed

Lastly, the youngest of six people convicted of the 2012 gang-rape of a woman, in a case that shocked India, was freed on Sunday, after a court refused to extend his three-year sentence, read more.