Indian stock markets are likely to open higher on Thursday following an uptick in the Asian shares in the early deals today as fears about a global trade war seemed to have diminished. The early indicator of NSE Nifty, SGX Nifty Futures was trading up 0.37% at 10,216.5 on Singapore Exchange.
These stocks will be in focus today
PNB: The Serious Fraud Investigation Office (SFIO) questioned PNB MD and CEO Sunil Mehta for five hours in connection with the Rs 12,700 crore fraud at the bank, allegedly carried out by diamond jewellers Nirav Modi and Mehul Choksi.
SBI: The Reserve Bank of India has slapped a penalty of Rs 40 lakh on SBI for not complying with its directions on detection and impounding of counterfeit notes.
Bharti Airtel: Bharti Airtel’s board of directors will meet on March 12 to consider fundraising opportunity for the company.
Reliance Communications: Reliance Communications said it has adjourned the meeting of holders of its $300 million senior secured bonds and will now be held on 20 March 2018.
Jet Airways, InterGlobe Aviation & SpiceJet: The Competition Commission slapped a total penalty of more than Rs 54 crore on three airlines — Jet Airways, InterGlobe Aviation and SpiceJet — for unfair business practices with respect to fixing fuel surcharge on cargo transport.
L&T Finance Holdings: L&T Finance Holdings said its board has approved the price of Rs 185.51 per unit for Rs 2,000-crore share sale to its promoter L&T on a preferential basis.
Amtek Auto: Liberty House has emerged as the successful highest bidder for Amtek Auto Pvt Ltd.
Tata Steel: Leading the race for Bhushan Steel, Tata Steel said it has been identified as the highest bidder for acquiring controlling stake in the debt-ridden firm undergoing insolvency proceedings.
The Indian rupee on Wednesday: The rupee appreciated by another 7 paise to close at a new one-week high of 64.89 against the US dollar.
Indian stock markets on Wednesday
Indian stock markets ended lower for the sixth straight session on Wednesday with Sensex slipping to a three-month low as heavyweight bankers such as SBI, PNB, ICICI Bank, Bank of Baroda, HDFC Bank and Axis Bank collapsed while Adani group shares tumbled up to 8%. The benchmark Sensex index had lost a phenomenal chunk in last six sessions losing as much as 1,413 points to 33,033 from a level of 34,445 (on 26 February 2018). The S&P BSE Sensex crashed 284.11 points or 0.85% to end at a three-month low of 33,033.09 and NSE Nifty tumbled 95.05 points or 0.93% to conclude at 10,154.2. Among the Sensex constituents, shares of Adani Ports, State Bank of India, ICICI Bank, Bharti Airtel, ONGC, Reliance Industries lost 2-6% today.
US stock markets on Wednesday
The S&P 500 ended slightly lower after Wednesday’s volatile session as investors struggled to get a read on US trade policy after President Donald Trump promised hefty import tariffs but then said Mexico and Canada could be exempt, Reuters said in a report. The Dow Jones Industrial Average fell 82.76 points, or 0.33 percent, to 24,801.36 and the S&P 500 lost 1.32 points, or 0.05 percent, to 2,726.8, while the Nasdaq Composite added 24.64 points, or 0.33 percent, to 7,396.65.