Indian stock markets are likely to open higher on Friday as most of the Asian shares gained in the early morning session today. The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, up 0.08% at 10,210 on the Singapore Stock Exchange. Among the Second quarter earnings, HDFC Standard Life Insurance is all set to announce its Q2 earnings for the first time after getting listed. Among other companies, Aegis Logistics, Ajmera Realty, Federal Mogul, Omax Autos, Jayshree Tea are also scheduled to announce Q2 earnings today.
These stocks will be in focus today
Bharti Airtel: Shares of India’s largest telecom company Bharti Airtel advanced more than 7% in the late afternoon trades on Thursday. The stock of Bharti Airtel witnessed a massive spike after 2 pm yesterday, for reasons yet unknown. Following the huge surge in the stock prices of Bharti Airtel, it topped both the key indices Sensex and Nifty. The stock of Bharti Airtel gained as much as 7.11% to Rs 518.4 on BSE while it zoomed 7.24% to Rs 518.5 on NSE. Amid the heavy trading volumes, over 65 lakh shares exchanged hands on both BSE and NSE with about 62.61 lakh shares on NSE alone. With a huge spurt in the share prices of Bharti Airtel, the market capitalisation of the company saw an appreciation of Rs 13,771.04 crore to Rs 2,07,225.22 crore from Rs 1,93,454.18 a day earlier. Bharti Airtel shares settled up 6.5% at Rs 515.4.
Jet Airways: Private carrier Jet Airways today reported a drop of 91% in the standalone net profit to Rs 49.63 crore for the July-September quarter on account of a deep decline in other income.
Union Bank of India: Public sector lender Union Bank of India has initiated the process of raising up to Rs 2,000 crore through qualified institutional placement (QIP).
Indian Rupee on Thursday: The rupee lost further ground to end at a near two-week low of 64.57 against the US currency, falling by 5 paise on sustained demand for the dollar from mporters despite a strong rebound in equities.
Indian markets on Thursday
Indian stock markets broke the 8-day downtrend record and settled on a higher note on Thursday, extending gains in the late afternoon trade after opening little up. BSE Sensex jumped 395.27 points to hit the day’s high of 32,992.45 while NSE Nifty edged up 138.55 points to mark the day’s high at 10,182.65. The stocks of heavyweight companies such as Bharti Airtel, Asian Paints, Maruti Suzuki, TataSteel, Bajaj Auto, NTPC, L&T, ICICI Bank, HUL, SBI, Tata Motors, Lupin emerged as the lead gainers today. All the sectoral indices of NSE ended in the green with Nifty Auto, Nifty Metal, Nifty Realty, Nifty PSU Bank index leading the charge.
US markets on Thursday
US stocks ended higher on Thursday led by the upmove in the technology shares, companies including Facebook and Alphabet. Shares of yoga pants seller Lululemon Athletica surged massively. Facebook climbed 2.31% while Google parent-company Alphabet added 1.23% helping the S&P 500 end higher after the index lost ground for four straight sessions. The Dow Jones Industrial Average rose 0.29% to end at 24,211.48 points, while the S&P 500 gained 0.29% to 2,636.98. The Nasdaq Composite added 0.54% to 6,812.84.