Indian stock markets are likely to open lower on Friday following the decline in three of the major US stock indices and the uptick in uncertainties over fourth-quarter corporate earnings as S&P warns for a weak quarter for Indian banks.
Indian stock markets are likely to open lower on Friday following the decline in three of the major US stock indices and the uptick in uncertainties over fourth-quarter corporate earnings as S&P warns for a weak quarter for Indian banks. The early indicator of NSE Nifty, SGX Nifty was trading down 0.45% at 10,540 on Singapore Exchange on Friday. Shares of the real estate major Indiabulls Housing Finance will be on watch today ahead of the Q4 earnings release.
These stocks will be in focus today
TCS: India’s largest IT services company and the market cap leader TCS recommended a dividend of Rs 29 per equity share of face value of Re 1 with a bonus issue of equity shares in a ratio of 1:1. TCS posted a 4.4% rise in the net profit to Rs 6,904 crore for the quarter ended 31 March 2018 and guided towards a better show in fiscal 2019.
Bank stocks: Indian banks’ results for the fiscal year ended March 2018 are likely to be weak, S&P Global Ratings said.
Fortis Healthcare: Fortis Healthcare’s board has approved evaluation of binding offers from suitors and formed an expert committee to assess the same.
The rupee plunged to a fresh 13-month low of 65.8 against US dollar, down by 14 paise on growing worries over higher crude prices and likely fiscal slippages led to subdued forex market sentiments.
Eveready Industries & Indo National: CCI imposed a total fine of Rs 215 crore on Eveready Industries, Indo National, industry grouping AIDCM and their officials for cartelisation in the pricing of zinc-carbon dry cell batteries.
Indian stock markets on Thursday
Indian stock markets ended on a positive note on Thursday with Sensex and Nifty finishing marginally higher as a sustained rise in shares of blue-chip companies such as L&T, HDFC Bank, Yes Bank, TCS and Tata Steel steered the benchmark to close in the green. The S&P BSE Sensex added 95.61 points or 0.28% to conclude at 34,427.29 whereas NSE Nifty went up by 39.1 points or 0.37% to end at 10,565.3 on Thursday. A contrary trade was observed in the scrips of metal and oil marketers led by LME hitting nearly a 7 year high and Brent crude rising to a 4-year peak.