Indian stock markets are likely to open little higher on Wednesday as most of the Asian markets ticked up in the early trade following the record closing on Wall Street overnight. The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, up 0.17% at 10,487 on the Singapore Stock Exchange.
These stocks will be in focus today
RIL: Reliance has commissioned the world’s largest off-gas cracker facility at its Jamnagar complex, completing its multi-billion-dollar expansion which has seen it doubling the ethylene capacity and entering the league of top 5 petrochemical producers globally.
Hero MotoCorp: Hero MotoCorp reported 43 per cent jump in sales at 4,72,731 units in December 2017 as against 3,30,202 units in the year-ago month.
NTPC: State-run NTPC said its power generation was the highest in October-December at 67,781 million units.
Indiabulls Housing Finance: Mortgage lender Indiabulls Housing Finance said it has raised Rs 1,000 crore from private sector lender Yes Bank in the country’s maiden social affordable housing bond sale.
Punjab and Sind Bank: Public sector Punjab and Sind Bank said it has received board approval to raise up to Rs 1,000 crore by the end of the next fiscal by various means including follow-on public offer, rights issue or QIP.
The Indian rupee on Tuesday: The rupee shot up to end at a nearly 2-1/2 year high of 63.48, surging by 20 paise against the US dollar.
Indian stock markets on Tuesday
The benchmark BSE Sensex closed flat as investors turned cautious ahead of corporate results amid soaring global crude prices and a subdued trend in European markets. After a higher opening at 33,913.55, the Sensex advanced to hit the day’s high of 33,964.14. But profit-booking towards the middle of the session erased gains, dragging the index to a low of 33,703.37. The 30-share barometer closed at 33,812.26, down by just 0.49 points. The gauge had lost 244.08 points in the first trading session of 2018 yesterday. The NSE Nifty, however, ended a shade higher by 6.65 points or 0.06 per cent at 10,442.20 after moving between 10,495.20 and 10,404.65.
US stock markets on Tuesday
US stocks rose on Tuesday in the first session of the new year, pushing the Nasdaq to close above 7,000 for the first time, as investors were optimistic that 2018 will bring more gains for the market. The S&P 500 also ended at a record high. Technology drove the day’s gains, but consumer discretionary, healthcare, energy and materials sectors were also up more than 1 percent each. Apple, Facebook, Alphabet and Microsoft pulled the technology index up 1.4 percent, following a 37-percent surge in 2017 that made it the best-performing S&P sector. The Dow Jones Industrial Average rose 104.79 points, or 0.42 percent, to 24,824.01, the S&P 500 gained 22.18 points, or 0.83 percent, to 2,695.79 and the Nasdaq Composite added 103.51 points, or 1.5 percent, to 7,006.9.
With inputs from Reuters and PTI.