Indian stock markets are likely to open lower on Wednesday tracking the negative global cues as major US stock indices fell sharply with Dow Industrials losing as much as 345 points and Nasdaq closing near the 7,000 mark.
Indian stock markets are likely to open lower on Wednesday tracking the negative global cues as major US stock indices fell sharply with Dow Industrials losing as much as 345 points and Nasdaq closing near the 7,000 mark. The early indicator of NSE Nifty, SGX Nifty Futures was trading 0.76% down at 10,132 on Singapore Exchange on Wednesday.
These stocks will be in focus today
Fortis Healthcare: Fortis Healthcare on Tuesday night said its board has approved demerger of its hospitals business, which will be acquired by Manipal Hospitals and TPG Capital, along with the sale of 20% stake in diagnostics chain SRL Ltd., in the Rs 3,900-crore deal. “The Board has also approved sale of its 20% stake in SRL Ltd. to Manipal Hospitals. The resultant entity Manipal Hospitals will be a publicly traded company listed on NSE and BSE. The remaining FHL will be an investment holding company with 36.6% stake in SRL,” Fortis Healthcare said in a statement.
Dilip Buildcon: Dilip Buildcon has bagged Rs 2,013 crore contract for a road project in Andhra Pradesh from NHAI.
IFCI: IFCI Ltd has further diluted its stake in NSE by 0.02% for a consideration of about Rs 8.74 crore.
Capital First: Capital First, which is set to merge with IDFC Bank, will raise up to Rs 1,500 crore by issuing bonds on private placement basis.
Reliance Industries: Reliance Industries said its subsidiary Reliance Eagleford Upstream Holding LP will sell certain assets in Eagle Ford shale to Sundance Energy Inc for a consideration of $100 million.
Reliance Communications: Sistema Shyam Teleservices has swapped and sold 80.3 million shares representing 2.9% equity stake in Reliance Communications, thus reducing its total holding to about 7%.
Ashok Leyland: Ashok Leyland today will increase prices of its entire product portfolio by a minimum of 2% from next month to partially offset the impact of rising input costs.
The Indian rupee on Tuesday: The rupee ended down 10 paise at 64.97 against the US dollar.
Indian stock markets on Tuesday
Indian stock markets ended on a positive note for the second straight session on Tuesday with Sensex rising over 100 points following a sustained uptick in the shares of blue-chip bankers such as State Bank of India, ICICI Bank, Kotak Mahindra Bank and IndusInd Bank. In today’s market dealing, Asian markets extended yesterday’s gain on reports that the United States and China were in discussion to avoid the trade war with Japan’s Nikkei index surging about 2.3% while US dollar fell against a basket of currencies. A market-wide uptick was seen in the domestic equities with mid-caps, small-caps and PSU bank shares leading the charge.
US stock markets on Tuesday
Wall Street closed sharply lower Tuesday, with each of the major U.S. indexes suffering their fourth decline in five sessions, fueled by a selloff in the tech sector, Reuters said in a report. Tech stocks, among the best performing sectors of the bull market, have been under pressure recently as concerns about government regulation stemming from their strong growth and privacy questions surrounding Facebook, Reuters added. The Dow Jones Industrial Average fell 344.89 points, or 1.43 percent, to 23,857.71, the S&P 500 lost 45.93 points, or 1.73 percent, to 2,612.62 and the Nasdaq Composite dropped 211.74 points, or 2.93 percent, to 7,008.81.