1. Stocks of DLF, Yes Bank, Nestle, Ashok Leyland in focus today; all eyes on India’s GDP growth

Stocks of DLF, Yes Bank, Nestle, Ashok Leyland in focus today; all eyes on India’s GDP growth

Indian stock markets fell in the opening trade on Thursday as investors turned cautious ahead of the Q2 GDP growth data due later today.

By: | Updated: November 30, 2017 9:38 AM
The early indicator of NSE Nifty, SGX Nifty Futures shed 0.48% at 10,310 on the Singapore Stock Exchange. (Image: Wikimedia Commons)

Indian stock markets fell in the opening trade on Thursday as investors turned cautious ahead of the Q2 GDP growth data due later today. The early indicator of NSE Nifty, SGX Nifty Futures shed 0.48% at 10,310 on the Singapore Stock Exchange. Meanwhile, most of the Asian shares also slipped in the early morning session on Thursday, triggered by the plunge technology shares after the US technology benchmark index lost nearly 1% on Wednesday.

DLF: India’s largest realty firm DLF plans to raise around Rs 3,500 crore through sale of shares to institutional investors and the proceeds will be used to cut its net debt, PTI reported. On 1 December a board meeting has been called to approve the proposals to issue shares through qualified institutional placement.

Nestle India: FMCG major Nestle India, which is facing penalty over alleged “ash content” in Maggi, said the company does not use it while manufacturing the popular noodles, PTI reported.

Ashok Leyland: Automobile giant Ashok Leyland will set up a bus manufacturing unit in Krishna district of Andhra Pradesh where 4,800 buses will be produced per annum, the Chief Minister’s Office (CMO) has announced.

Yes Bank: Private sector lender Yes Bank said its board has approved proposal to set up MTN programme to raise USD 1 billion (about Rs 6,500 crore) on private placement basis.

Indian Rupee on Wednesday

The Indian rupee remains unaffected by the North Korean ballistic missile launch on Wednesday. The rupee continued to rise for the third consecutive day and marked a three month high vs US dollar in today’s trade. The Indian rupee gained 9 paise to close at 64.32 against US dollar at the interbank foreign exchange market on Wednesday. During the day, rupee made a high of 64.28 apiece US dollar.

Indian markets on Wednesday

Indian stock markets closed lower on Wednesday in a dull and rangebound trading activity as investors remain cautious after the North Korea fired its powerful missile. The sentiments were also muted ahead of Q2 GDP data and F&O expiry due on 30 November. BSE Sensex shed 15.83 points or 0.05% to end at 33,602.76 whereas NSE Nifty shaved off 8.95 points or 0.09% to settle at 10,361.3. A colourless trade was also witnessed among the Asian markets excepting Japanese equity benchmark Nikkei. During the day, the benchmark Sensex made traded between a range of 33,728.81 and 33,553.12. The profit booking in the shares of HDFC, Axis Bank, State Bank of India and Tata Consultancy Services led the 30-share barometer to lose about 90 points while an uptick in HDFC Bank, ITC, ICICI Bank and Reliance Industries helped to trim the losses.

US markets on Wednesday

US stocks ended mixed on Wednesday with the tech-heavy Nasdaq posting its biggest one-day drop in more than three months. Investors fled high-flying technology stocks and shifted to banks and other pockets of the market that could benefit from improving economic conditions, lower regulations and taxes as well as higher interest rates, Reuters reported. The Dow Jones Industrial Average rose 103.97 points, or 0.44 percent, to 23,940.68, the S&P 500 lost 0.97 point, or 0.04 percent, to 2,626.07 and the Nasdaq Composite dropped 88.02 points, or 1.27 percent, to 6,824.34.

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