Sensex and Nifty are likely to open higher as the early indicator of NSE Nifty 50, SGX Nifty Futures is trading little changed, up 0.15% at 9,972.5 points on the Singapore Stock Exchange.
Sensex and Nifty are likely to open higher as the early indicator of NSE Nifty 50, SGX Nifty Futures is trading little changed, up 0.15% at 9,972.5 points on the Singapore Stock Exchange. Investors held off buying on concerns North Korea could launch another missile test on its important national holiday over the weekend.
These stocks will be in focus today:
Workers at Tata Motors‘ Jamshedpur plant continued with their agitation for the third consecutive day yesterday over non-payment of the revised wages, impacting production of commercial vehicles. The agitating workers, who are classified as ‘temporary’, claimed production at the facility, which produces up to 9,000 commercial vehicles per month or 300 units daily across three shifts, has been impacted.
Shares of Bajaj Finance are on a rising streak for the last two trading sessions after a stellar response to its QIP (qualified institutional placement) of equity shares on the evening of 5 September. Bajaj Finance has gained over Rs 9,400 in market capitalisation in just two days, with its value again topping Rs 1-trillion mark and its shares rising 9.58% over the two trading sessions on 6-7 September.
Shares of Royal Enfield maker Eicher Motors advanced over 3% to hit an all-time high on Thursday on the news that the company is preparing to make a binding offer to acquire the iconic Italian superbikes Ducati for $1.8 billion-$2 billion, as reported The Economic Times. The stock of Eicher Motors gained 3.88% to Rs 33,328.4 on NSE yesterday.
Shares of Indiabulls Housing Finance jumped to a lifetime high on Thursday after leading research and brokerage firm CLSA raised the target price of the company to Rs 1,500 from Rs 1,380.
Carmakers producing vehicles that run on traditional fuel, take note — Union minister Nitin Gadkari has a clear message: Go for alternative fuel, else he will not mind “bulldozing” them in his bid to check pollution and imports. According to the road transport and highways minister, a Cabinet note on electric vehicles is ready that will take care of charging stations.
Utility vehicle major Mahindra & Mahindra (M&M) yesterday said the proposed hike in GST cess on SUVs and bigger cars should not be implemented during the festive season.
Shares of Religare Enterprises continued its slide for the tenth straight session today, yesterday fell nearly 5 per cent to hit a multi-year low during the day. The stock declined by 4.82 per cent to close at Rs 38.50 on BSE. Intra-day, it slipped 4.94 per cent to Rs 38.45 — its multi-year low.
Drug firm Cadila Healthcare yesterday said the US health regulator has issued no observations after completion of inspection of its Moraiya plant in Gujarat. The United States Food and Drug Administration (USFDA) has inspected the company’s Moraiya facility from August 31-September 7, 2017, Cadila Healthcare said in a statement.
Sensex and Nifty ended almost flat on Thursday after opening up marginally higher. Indian stock markets traded below the opening level through the day in a volatile trade and profit-booking by the market participants led the Sensex to close leveled at 31,662.74 points. However, the broader Nifty 50 settled 0.14% higher at 9,929.9 points. The benchmark Sensex had opened higher at 31,738.74 and scaled the day’s high of 31,814.96 in early trade, taking positive leads from Asian markets.
The rupee yesterday strengthened by another five paise to 64.05 per US dollar following sustained selling of the American currency by exporters and banks. The home currency has appreciated by 7 paise in two days despite prevailing geopolitical uncertainties. Extreme bearish dollar overseas also supported the rupee recovery momentum.
Wall Street ended little changed on Thursday after a moderate late-day rally as media stocks which slumped after negative business updates from Walt Disney and Comcast were offset by gains in healthcare shares. The Dow Jones Industrial Average fell 21.83 points, or 0.1 percent, to 21,785.81, the S&P 500 lost 0.42 point, or 0.02 percent, to 2,465.12 and the Nasdaq Composite added 4.56 points, or 0.07 percent, to 6,397.87.