Sensex and Nifty might open higher on Thursday following the upside in Wall Street stocks as all three major US indices closed at record highs.
Sensex and Nifty might open higher on Thursday following the upside in Wall Street stocks as all three major US indices closed at record highs. The early indicator of NSE Nifty — SGX Nifty Futures was trading little changed, down 0.18% at 10,083 points on Singapore Stock Exchange.
These stocks will be in focus today:
Stocks of IOC, BPCL, and HPCL will be on watch today after yesterday’s slump: Oil Minister Dharmendra Pradhan
today ruled out government intervention to disrupt the daily revision in petrol and diesel prices. Pradhan categorically said that the government has “no business to interfere in the day-to-day functioning of the oil marketing companies”. Further, the minister also said that an analysis of the global trends indicates that the retail fuel prices will likely ease out in the days to come. Earlier yesterday, TV news channels reported citing sources that the government may ask the oil marketing companies to absorb further increase in global crude oil prices, and that it is unlikely to pass further rise in fuel prices due to higher inflation. Following which Indian Oil Corporation fell as much as 6.2% to the day’s low of Rs 408; Bharat Petroleum Corporation plunged 8.4% to the day’s low of Rs 489. while Hindustan Petroleum Corporation lost 8% to the day’s low of Rs 443.7.
Coal India is planning to diversify into new mining areas although it believes the fossil fuel to remain as the primary source of power generation for at least the next two decades, a company official has said.
Hindalco Industries, an Aditya Birla Group company, plans to prepay another Rs 1,100-crore debt this month to further deleverage its balance sheet.
Airtel: India’s telecom subscriber base dipped marginally by 1.3 lakh to 121.07 crore in July, as per data published by regulator Trai today. Only three operators — Reliance Jio, Bharti Airtel, and state-run BSNL — reported subscriber additions in the month, while eight other operators including Idea Cellular and Vodafone, saw a decline. “The number of telephone subscribers in India slightly declined from 1,210.84 million at the end of June 2017 to 1,210.71 million at the end of July 2017,” the Telecom Regulatory Authority of India (Trai) said in its monthly subscribers report.
Jet Airways: Naresh Goyal-owned Jet Airways may participate in the second phase of bidding for regional flights under the central government’s UDAN scheme, but the final decision will depend on the “economics” of operations.
Jubilant Foodworks: Shares of Jubilant FoodWorks, exclusive India franchisee of Domino’s Pizza fell by more than 6% and closed at Rs 1,338 on Wednesday after Deutsche Bank raised concerns on reports of bugs being found in Domino’s Pizza’s seasoning sachets. Earlier this week, Rahul Arora, a resident of Delhi, posted a video on his Facebook page where insects could be seen crawling out of a Domino’s Pizza seasoning packet.
Sensex and Nifty on Wednesday
Indian markets closed at different notes on Wednesday as the benchmark Sensex ended marginally higher while Nifty 50 settled down led by the slump in shares of major oil marketing companies. Shares of the IOC, BPCL, and HPCL tumbled on the news that government may ask the oil marketing companies to absorb further increase in global crude oil prices. BSE Sensex gained 0.09% to close at 32,186.41 points whereas the broader Nifty 50 lost 0.14% to end at 10,079.3 points.
Indian Rupee on Wednesday: The rupee yesterday recovered four paise to close at 64 against US dollar.
US markets on Wednesday
All three major Wall Street indexes ended with record closes on Wednesday as gains in consumer discretionary and energy stocks offset losses in Apple. The Dow Jones Industrial Average rose 37.8 points, or 0.17 percent, to 22,156.66, the S&P 500 gained 1.83 points, or 0.07 percent, to 2,498.31 and the Nasdaq Composite added 5.91 points, or 0.09 percent, to 6,460.19.