Shares of RIL, Axis Bank, Tata Motors, ICICI Bank, PNB, Indiabulls Housing, Jubilant Foods in focus today

By: | Published: April 4, 2018 9:07 AM

Indian stock markets are likely to open higher on Wednesday following upbeat Wall Street as the Dow Industrials added nearly 390 points on Tuesday on the back of earnings optimism.

The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, up 0.06% at 10,282.5 on Singapore Exchange on Wednesday. (Image: Wikimedia Commons)

Indian stock markets are likely to open higher on Wednesday following upbeat Wall Street as the Dow Industrials added nearly 390 points on Tuesday on the back of earnings optimism. The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, up 0.06% at 10,282.5 on Singapore Exchange on Wednesday.

Jubilant FoodWorks: The GST anti-profiteering body has issued a notice to Jubilant FoodWorks for allegedly not passing on the benefit of the tax rate cut to consumers of Domino’s Pizza across its outlets, PTI reported citing unidentified sources.

Reliance Industries: Jio Payments Bank has commenced its banking services with effect from 3 April 2018. Reliance Industries Ltd was one of the 11 applicants which were issued an in-principle approval for setting up a payments bank in August 2015.

Indiabulls Housing Finance: Merrill Lynch sold nearly 2% stake in Indiabulls Housing Finance for Rs 982 crore through an open market transaction.

PNB: The government has asked PNB and probe agencies to share details of the Rs 13,000 crore scam with chartered accountants’ apex body ICAI, which is looking into the systemic issues related to the fraud, PTI reported citing unidentified official.

Axis Bank: The Reserve Bank of India has dropped Axis Bank, which has been one of the largest importers of bullion, from the list of lenders allowed to ship in gold and silver for the current fiscal year.

Tata Motors: Jaguar Land Rover posted a jump of 83% in sales for the financial year ended 31 March 2018 and is planning to bring 10 new products in India in the current fiscal 2018-2019.

ICICI Bank: Facing allegations of wrongdoing in the loan extended to Videocon Group, ICICI Bank MD and CEO Chanda Kochhar has pulled out of the annual session of FICCI Ladies Organisation (FLO) to be held this week, where she was to be felicitated by President Ram Nath Kovind, PTI reported citing an unidentified organiser.

Zensar Technologies: Zensar has bagged a four-year deal from the City of San Diego for network services for a deal value of up to $79 million.

The Indian rupee on Tuesday: The rupee added 17 paise to close at 65.01 against US dollar.

Indian stock markets on Tuesday

Indian stock markets closed higher on Tuesday following the gains in the late afternoon trade with Sensex rising over 100 points and Nifty nearing the 10,250-level at the close before the commencement of RBI’s first bi-monthly policy meeting in FY19 starting tomorrow. All the sectoral indices of National Stock Exchange ended in green barring the Nifty IT index with PSU banking index surging the most. During the day, the key equity indices Sensex and Nifty hovered in negative territory broadly from 10:30 am to 2:30 pm. In the intraday deals, the benchmark Sensex shuttled between a high of 33,402.94 and a low of 33,153.83.

BSE Sensex gained 115.27 points or 0.35% to finish at 33,370.63 whereas NSE Nifty added 33.2 points or 0.33% to settle at 10,245 on Tuesday. Shares of M&M and ICICI Bank emerged as the lead gainers among the components of BSE Sensex on Tuesday.

Us stock markets on Tuesday

The three major US stock indexes ended higher after a choppy session on Tuesday as investors looked forward to earnings season while the S&P 500 pushed above a key support level and Amazon.com shares jumped on bets that criticism from President Donald Trump would not translate to policy changes, Reuters said in a report. The Dow Jones Industrial Average rose 389.17 points, or 1.65 percent, to 24,033.36, the S&P 500 gained 32.57 points, or 1.26 percent, to 2,614.45 and the Nasdaq Composite added 71.16 points, or 1.04 percent, to 6,941.28.

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