Indian stock markets are likely to open higher on Tuesday following a recovery in major indices of Wall Street with Dow Industrials rising nearly 340 points. The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, up by 0.26% at 10,387 on Singapore Exchange. Shares of the scam-hit Punjab National Bank will continue to be in a close watch as the implications of the biggest banking fraud are unwinding day after day following the ongoing probe by Enforcement Directorate and Central Bureau of Investigation.
These shares will be in focus today
HDFC: HDFC has raised Rs 1,893.92 crore through an issue of shares to global institutional investors following the closure of the qualified institutional placement. HDFC approved the issue of 1.03 crore shares of face value Rs 2 each at an issue price of Rs 1,825 per equity share.
IndusInd Bank: IndusInd Bank invoked 6 crore pledged shares (4.32% stake) of Jaypee Infratech.
BSE: Nomura Asset Management had offloaded nearly 14 lakh shares of BSE for nearly Rs 111 crore in an open market transaction.
JSW Energy: JSW Energy had acquired JSW Electric Vehicles Private Ltd.
Axis Bank & Indian Overseas Bank: The Reserve Bank of India has imposed a penalty of Rs 3 crore on Axis Bank for violation of NPA classification norms, and Rs 2 crore on Indian Overseas Bank for not complying with the KYC regulations.
UPL: Agro-chemical major UPL Ltd’s arm has raised $300 million through the issue of bonds.
The Indian rupee on Monday: The rupee ended up 5 paise at 65.12 against the US dollar.
Indian stock markets on Monday
The domestic stock markets closed in deep red on Monday after metal, banking, oil & gas and auto stocks slumped on US president Trump induced fears of a global trade war. The 30-share Sensex shed 300 points to close at 33,746 and the broader 50 share index Nifty closed at 10,358, after falling by more than 70 points. On Monday, Indian equity markets extended their fall for the fourth straight session on the fears of a global trade war. The benchmark Sensex slipped to a near two-week low of 33,747 as market participants weighed the likely impact of US President Donald Trump’s plans to levy stiff tariffs on steel and aluminium imports, triggering a free fall in metal stocks.
US stock markets on Monday
U.S. stocks rallied on Monday as fears of a global trade war ebbed with investors betting that U.S. President Donald Trump would back down on his threat to impose hefty tariffs on steel and aluminium imports, Reuters said in a report. The Dow Jones Industrial Average rose 336.7 points or 1.37% to 24,874.76, the S&P 500 gained 29.69 points or 1.1% to 2,720.94 and the Nasdaq Composite added 72.84 points or 1% to 7,330.71.