Indian stock markets are likely to open higher on Tuesday following a sharp recovery in major indices on Wall Street with Dow Industrials surging as much as 669 points, its third-biggest point-gain ever.
Indian stock markets are likely to open higher on Tuesday following a sharp recovery in major indices on Wall Street with Dow Industrials surging as much as 669 points, its third-biggest point-gain ever. The early indicator of NSE Nifty, SGX Nifty Futures was trading unchanged at 10,174.5 on Singapore Exchange on Tuesday.
These shares will be in focus today
Power Finance Corporation: Power Finance Corporation will raise Rs 57,000 crore through various long-term and short-term debt instruments during in 2018-19.
Dilip Buildcon: Dilip Buildcon has bagged projects worth a total Rs 4,114 crore from state-run NHAI in Karnataka and Maharashtra.
Tata Power: Tata Power had decided to sell its stake in Tata Communications and its holding firm Panatone Finvest to Tata Sons for around Rs 2,150 crore.
Adani Enterprises: Adani Enterprises has signed a coal mining agreement with NLC India.
Wipro: Shares of big-three IT companies Infosys, Wipro, TCS were the only decliners on Monday. The stock of Wipro dropped 3.96% to end at Rs 273.9 on BSE.
The Indian rupee on Monday: The rupee strengthened by 14 paise to end at a nearly two-week high of 64.87 against the US dollar.
Indian stock markets on Monday
Indian stock markets ended higher on Monday with Sensex posting a complete recovery from Friday’s wipeout as concerns over US-China trade war eased after the United States approached China to settle down trade imbalances which steered a value buying in equities from Europe to Asia. The S&P BSE Sensex retook the 33,000-mark within a day after the benchmark index slipped to a level of 32,596.54, meanwhile, Nifty 50 also regained the psychological mark of 10,000 after diving to a low of 9,998.05 on Friday. The domestic markets witnessed a sharp slide on Friday with Sensex and Nifty tumbling to their respective 6-month lows after US President Donald Trump imposed tariffs on Chinese imports which triggered a panic among investors on worries of a trade war.
The 30-share barometer Sensex rose 469.87 points or 1.44% to finish at 33,066.41 whereas the wider share indicator Nifty surged 132.6 points or 1.33% to conclude at 10,130.65 on Monday. The United States has contacted China seeking measures to reduce their trade imbalance, Reuters reported citing an unidentified report. During the day, Sensex advanced as much as 518.87 points to a day’s high of 33,115.41.
US Stock markets on Monday
Wall Street scored its best day in 2-1/2 years and the Dow Jones Industrial Average saw its third-biggest point gain ever on Monday, as trade war fears eased on reports the United States and China are willing to renegotiate tariffs and trade imbalances, Reuters said in a report. The Dow Jones Industrial Average rose 669.4 points, or 2.84 percent, to 24,202.6. The two larger point gains for the Dow were in October 2008. The S&P 500 gained 70.29 points, or 2.72 percent, to 2,658.55 and the Nasdaq Composite added 227.88 points, or 3.26 percent, to 7,220.54. 7,220.54