Indian stock markets are likely to open higher following the uptrend in the US markets overnight. The early indicator of NSE Nifty — SGX Nifty Futures — was trading 0.34% higher at 10,350 on the Singapore Stock Exchange. Meanwhile, Asian stocks edged higher in the early trade today, while the dollar hovered near a one-week high against its peers’.
These stocks will be in focus today
Videocon Industries: Videocon Industries reported widening of standalone net loss to Rs 885.82 crore for the three months ended June this year. The group had a net loss of Rs 368.75 crore in the year-ago period, it said in a regulatory filing.
Edelweiss Financial Services: Edelweiss Financial Services said it has raised Rs 1,528 crore through Qualified Institutions Placement (QIP) to fund expansion.
Reliance Communications: Lenders of debt-ridden Reliance Communications have approved the sale of its real estate assets in Delhi and Chennai to Canada-based asset management firm Brookfield, PTI reported citing an unidentified source.
Logistics stocks: The logistics sector has been granted infrastructure status which will help it access loans on easier terms, encourage manufacturing in the country and help improve economic growth, the government said on Monday. The cost of logistics in India is very high compared to developed countries and the sector’s development will provide a boost to domestic as well as external demand, encouraging manufacturing and job creation, it said.
NBCC: State-owned NBCC said it has awarded contract worth Rs 524 crore to Simplex Infrastructures for construction of various buildings of IIT Bhubaneswar.
The Indian rupee on Monday: The rupee retreated from its near one-week high and ended lower by 10 paise at 65.11 against the US dollar.
Indian markets on Monday
Indian stock markets ended flat on Monday but managed to end the session in green with minimal upside as investors await macroeconomic factors which may drive the momentum in upcoming sessions. In the month ahead, GDP growth rate is due on 30 November and RBI policy in the first week of December. BSE Sensex gained 17.1 points or 0.05% to end at 33,359.9 while NSE Nifty added 15.15 points or 0.15% to finish at 10,298.75.
US markets on Monday
US stocks rose on Monday, with Verizon boosting the telecoms sector after the stock got an upgrade, while a deal in semiconductors lifted high-performing tech shares, Reuters reported. The Dow Jones Industrial Average rose 72.09 points, or 0.31 percent, to 23,430.33, the S&P 500 gained 3.29 points, or 0.13 percent, to 2,582.14 and the Nasdaq Composite added 7.92 points, or 0.12 percent, to 6,790.71.