Indian stock markets are likely to open higher on Tuesday as major indices on Wall Street rose to their respective three-week highs with Dow Industrials gaining nearly 400 points. The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, up 0.33% at 10,633 on Singapore Exchange. Going ahead in the week, the domestic markets are likely to be steered by the upcoming GDP data for the third-quarter of the FY18 due later tomorrow. Shares of the scam-hit PNB will be in close watch today as the PSU lender had said that the unauthorised transactions may inch up to Rs 1,300 crore above the current estimates of Rs 11,400 crore.
These stocks will be in focus today
PNB: Amid the ongoing probe into the PNB scam, the state-run bank had said the quantum of fraud transactions could be Rs 1,300 crore higher than the current estimate of about Rs 11,400 crore.
RIL: A government panel headed by DGH approved $4 billion investment plan of Reliance Industries and BP Plc for developing three sets of natural gas discoveries in the KG-D6 block in the Bay of Bengal.
Simbhaoli Sugars: The sugar-maker Simbhaoli Sugars had said it is committed to clear its outstanding dues to the Oriental Bank of Commerce in “due course of time” in consultation with all the lenders after it faced a CBI probe for alleged loan fraud.
Jain Irrigation: Jain Irrigation Systems said its subsidiary has acquired Belgium-based Innovafood N V and its affiliated firms.
ACC Ltd & Ambuja Cements: ACC Ltd and Ambuja Cements, the two Indian units of LafargeHolcim, are not proceeding with the merger at this point in time. “On the basis of a comprehensive evaluation carried out by both the special committee and Board of Directors of the company, the board is of the opinion that there are at present certain constraints in implementing a merger between the company and Ambuja Cements Ltd (ACL),” ACC said in an exchange filing.
Gitanjali Gems: The jewellery-maker Gitanjali Gems, gripped under Rs 11,400 crore PNB loan fraud, had said that the Independent Director Anil Umesh Haldipur has resigned from its board citing personal reasons.
The Indian rupee on Monday: The rupee slipped by 6 paise to end at 64.79 against the US dollar.
Indian stock markets on Monday
Indian stock markets settled on a positive note on Monday with benchmark Sensex spurting over 300 points to close at a three-week high of 34,445.75 while the wider NSE Nifty too went past the 10,550-level. A firming trend on Asian and European bourses following a good show by Wall Street on Friday bolstered investor’s sentiment. BSE Sensex hit the day’s
high of 34,483.39 before closing up 303.6 points at 34,445.75.
US stock markets on Monday
US stocks rose to more than three-week highs on Monday, recovering much of the losses sustained in a sell-off earlier this month, as a decline in Treasury yields assuaged investor concerns about rising interest rates and refocused attention on economic growth with all three major indexes rising more than 1%, Reuters said in a report. The Dow Jones Industrial Average rose 399.28 points, or 1.58% to 25,709.27, the S&P 500 gained 32.3 points, or 1.18% to 2,779.6 and the Nasdaq Composite added 84.07 points, or 1.15% to 7,421.46.