Indian stock markets plunged again in the early trades on Friday following the heavy slump in Wall Street’s major indices on Thursday. Today Indian equities will are likely to be steered by third-quarter earnings of major blue-chip companies such as State Bank of India, Tata Steel, BPCL, HPCL, ONGC, and Bank of Baroda. Other major companies which are also lined up with their respective Q3 numbers are Bata India, MOIL, National Aluminium Company, Syndicate Bank, Central Bank Of India, Dredging Corporation Of India, India Cements, Mahanagar Gas, Marico, Max Financial, Oil India, Sobha, and Sun TV.
These stocks will be in focus today
ABB India: ABB India reported 5.34% jump in its net profit to Rs 171.52 crore for the quarter ended 31 December.
Fortis Healthcare: Fortis Healthcare promoters Malvinder Mohan Singh and Shivinder Mohan Singh have resigned as directors from the company’s board following the Delhi High Court order upholding the Rs 3,500 crore arbitral award in favour of Daiichi Sankyo.
Andhra Bank: Public sector Andhra Bank reported a net loss of Rs 532.02 crore in the third quarter ended December of this fiscal due to higher bad loan provisioning.
Reliance Capital: Reliance Capital reported a 50% rise in its net profit to Rs 315 crore in the third quarter ended 31 December.
SAIL: The state-run steel maker posted a standalone net profit after 10 straight quarters of losses. India’s largest steel maker SAIL reported a standalone net profit of Rs 43.16 crore for the three months to 31 December 2017.
Muthoot Finance: Muthoot Finance reported 59% jump in its consolidated net profit to Rs 464 crore for the third quarter ended December 31, the highest ever quarterly gains on increased demand for loans.
Coffee Day Enterprises: Coffee Day Enterprises Ltd, which runs the popular Cafe Coffee Day chain, reported a 56.78% jump in consolidated net profit at Rs 31.2 crore for the December quarter.
ACC: Cement maker ACC Ltd reported over two-fold rise in consolidated profit at Rs 205.69 crore for the quarter ended December 2017.
Glenmark Pharmaceuticals: Glenmark Pharmaceuticals said its net profit dropped 78% to Rs 104.7 crore for the quarter ended December on sharp decline of US sales, despite growth in domestic formulations as well as other geographies.
The Indian rupee on Thursday
The Indian rupee on rose marginally against the US dollar on Thursday as the key equity index Sensex logged a 330-point gain in the today’s trading session. The rupee surged by 2 paise to end at 64.26 against the US dollar.
Indian stock markets on Thursday
Indian stock markets finally ended on a positive note on Thursday after seven days with Sensex scaling as many as 330 points to finish in green after seven days as a sharp uptick in shares of Infosys, Sun Pharma, SBI, HDFC and RIL boosted the key equity indices, also all of the sectoral indices concluded up today. The S&P BSE Sensex gained as much as 330.45 points or 0.97% to close at 34,413.16 and NSE Nifty added 100.15 points or 0.96% to conclude at 10,576.85. On Thursday, the volatility in the market dipped relatively as the volatility indicator, India Vix shed 8.69% to close at 17.7725. Indian equities ended in a positive territory after an extended dull activity in last seven days due to Budget 2018 implications, global sell-off and uncertainties over RBI’s last policy meeting in FY18.
US stock markets on Thursday
US stocks plunged around 4% on Thursday in another dramatic session, confirming a correction that has thrown the market’s nearly nine-year bull run off course, Reuters said in a report. The Dow Jones Industrial Average fell 1,032.89 points or 4.15% to 23,860.46, the S&P 500 lost 100.66 points or 3.75% to 2,581 and the Nasdaq Composite dropped 274.83 points or 3.9% to 6,777.16.