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5 things you should know before market opens on Thursday

Reliance Communications and Indian Oil Corporation will remain in focus today.

By: | New Delhi | Updated: September 15, 2016 8:11 AM
BSE Sensex, NSE Nifty Reliance Communications and Aircel on Wednesday announced the merger of their wireless operations to create a combined entity with assets worth Rs 65,000 crore.

Key benchmark indices BSE Sensex and NSE Nifty ended marginally in green on Wednesday and snapped a two-day losing streak on fag-end buying in auto, consumer durables and banking space amid firm European cues. The 30-share Sensex closed 18.69 points up at 28372.23, while Nifty index closed 11 points up at 8,726.60. In the 50-share index, ACC, Adani Ports, Tata Motors DVR, YES Bank and Bank of Baroda gained between 2.45 per cent and 4.21 per cent on Wednesday. On the other hand, Sun Pharma, TCS, ONGC, Coal India and Bosch slipped between 0.99 per cent and 2.04 per cent.

Below are five things you should know before market opens on Thursday:

1) SGX Nifty was trading 33 points down at 8736.50 in the morning trade, indicating a weak start of domestic equity markets.

2) Asian peers, Nikkei was trading 1.36 per cent down at 226.48, while Hang Seng was up by 0.25 per cent in the morning deals (at 7.55 am IST).

3) On Wall Street, the Dow Jones Industrial Average Index dipped 0.18 per cent to 18,034.77 and the S&P 500 lost 0.06 per cent at 2125.77.

4) Stocks in focus: Reliance Communications and Indian Oil Corporation will remain in focus today. Reliance Communications and Aircel on Wednesday announced the merger of their wireless operations to create a combined entity with assets worth Rs 65,000 crore.

Announcing its plan of investing Rs up to 1.80 trillion across verticals in next six years, Indian Oil Corporation on Wednesday said it is in talks with foreign entities to co-invest in the investment that includes setting up a mega refinery in coastal Maharashtra.

5) According to NSDL, foreign portfolio investors remained net sellers in the Indian equity markets on Wednesday as they sold shares worth of Rs 591.15 crore with gross purchases of Rs 3574.07 crore and gross sales of Rs 4165.22 crore.

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