Nifty futures were trading 95.75 points or 0.85 per cent higher at 11,389.20 on Singaporean Exchange, suggesting a higher opening for BSE Sensex and Nifty 50 on Friday. A host of factors such as NSE rejig, April-June quarter results and global cues will sway the market sentiment today. Besides, the Supreme Court will continue the AGR hearing today. Analysts suggest investors to remain cautious while trading today. “The market volatility is likely to continue as investors remain cautious over the uncertainty regarding the global economic recovery, fresh US economic relief, the fallout of US-China tensions and worsening coronavirus crisis,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
Stocks in focus today:
SBI Life, Divis Lab: SBI Life Insurance and Divis Laboratories will enter benchmark index Nifty 50 from September 25, while Bharti Infratel and Zee Entertainment Enterprises will be dropped from the Nifty 50, NSE Indices, a subsidiary of the National Stock Exchange, said on Thursday.
IRCTC: The government is planning to sell part of its stake in Indian Railway Catering and Tourism Corporation (IRCTC) in the current fiscal, and has invited bids from merchant bankers for managing the sale process. The merchant bankers will have to submit their bids by September 10.
PNB, Oil India: A total of 51 companies including Punjab National Bank, Union Bank of India, Oil India, Indiabulls Housing Finance, Rossari Biotech, SMS Lifesciences, Suprajit Engineering and Venus Remedies, among others will announce their quarterly earnings today.
Wipro: Wipro announced the successful implementation of a blockchain-based small-scale liquefied natural gas (ssLNG) trading/fulfilment platform for Uniper Global Commodities SE and its 100% LNG-for-trucks subsidiary Liqvis GmbH.
Hindalco Industries: Hindalco Industries has entered into a Memorandum of Understanding (MoU) with UltraTech Cement to deliver 1.2 million metric tonnes of red mud (also known as bauxite residue) annually to UltraTech’s 14 plants located across 7 states.
Tata Steel: Tata Steel continues to be in discussions with the UK government for its operations in the country and is hopeful of a solution this financial year, N Chandrasekaran, chairman, Tata Steel, said on Thursday at the company’s 113th annual general meeting.
GMM Pfaudler: GMM Pfaudler, listed on Indian stock exchanges, announced on Thursday that it would acquire 54% in the global business of its parent, the Pfaudler Group, for a consideration of $27.4 million (about Rs 200 crore), funded through a mix of internal accruals and debt.