Sensex and Nifty are likely to open higher on Friday tracking the record closing on Wall Street overnight, however, Asian shares fell in early trade after North Korea fired another missile over Japan into the Pacific Ocean today. The early indicator of NSE Nifty 50 — SGX Nifty Futures was trading 0.6% lower at 10,064 points on Singapore Stock Exchange. North Korea launched an intermediate-range missile that flew 3,700 kilometers (2,300 miles), setting off alarms as it flew over Japan to land in the Pacific Ocean. The launch was the latest sign of Pyongyang’s willingness to defy international opinion as it moves closer to building up a military arsenal targeting US forces, Associated Press reported.
These stocks will be in focus today
Bajaj Finance Ltd has allotted over 2.6 crore shares to qualified institutional buyers (QIBs), fetching over Rs 5,044 crore.
Metals and mining conglomerate Vedanta yesterday said the State Pollution Control Board (SPCB), Odisha, has directed it to temporarily close five units of its power plants which may marginally have an impact on the cost of production of the aluminium.
Public sector IDBI Bank yesterday said it has sold 12.5 lakh equity shares in Clearing Corporation of India (CCIL) for an undisclosed amount.
Videocon Telecom’s security and surveillance arm Videocon Wallcam yesterday announced expansion to eastern India with an aim to garner revenues of up to Rs 276 crore by 2021.
ICICI Lombard General Insurance IPO: ICICI Lombard General Insurance yesterday raised Rs 1,625 crore from anchor investors ahead of its initial share sale opening today. The leading insurer would allot shares to 64 anchor investors at Rs 661 apiece — upper end of the IPO price band. Nomura, Abu Dhabi Investment Authority, Kuwait Investment, Goldman Sachs, Reliance Nippon, DSP BlackRock and Franklin Templeton are among the anchor investors.
Indian markets on Thursday
Sensex and Nifty closed with marginal upside on Thursday as Wholesale inflation rose to a four-month high of 3.24% in August as prices of food articles, led by onions and vegetables, soared. BSE Sensex ended 0.17% higher at 32,241.93 points while NSE Nifty settled 0.07% higher at 10,086.6 points. Inflation based on the wholesale price index (WPI) was 1.88% in July 2017 and 1.09% in August 2016. BHEL shares were the top gainer among the blue-chip stocks, it inched up 10.2% in intraday to a high of Rs 145.85 on NSE. The stock of Bharat Heavy Electronics Ltd jumped after the announcement that it will be roped in to make rolling stock for Prime Minister Narendra Modi’s dream project to put India on the fast track: the bullet train, in collaboration with Japan.
Indian Rupee on Thursday: The Indian rupee lost 12 paise or 0.19 per cent to end at 64.12 a dollar.
US markets on Thursday
Rising shares of Boeing pulled the Dow Jones Industrial Average up to a record high on Thursday, while the S&P 500 fell as investors saw higher-than-expected inflation increasing the chances of an interest rate hike. The Dow’s third consecutive all-time high was driven in part by Boeing, which rose 1.36 percent after Deutsche Bank raised its price target on the aerospace and defense stock. The Dow rose 0.2 percent to end at 22,203.48 points, while the S&P 500 lost 0.11 percent to 2,495.62. The Nasdaq Composite dropped 0.48 percent to 6,429.08, hurt by a 0.86-percent decline in Apple.