Sensex and Nifty are likely to open higher on Friday as most of the Asian shares gained in the early trade today after a tough week in which the gathering risk of a US rate rise which lifted the Treasury yields toward nine-year highs and boosted borrowing costs across the region. Meanwhile, the early indicator of NSE Nifty 50 — SGX Nifty Futures — was trading little changed, up 0.14% at 9,80,9 points on the Singapore Stock Exchange.
Shares of ACC, Bank of Baroda, Tata Power and Tata Motors DVR will be removed from the broader Indian benchmark Nifty 50 with effect from today, 29 September. Earlier in late August, India Index Services and Products Ltd (IISL) which is an arm of the National Stock Exchange (NSE) announced this as part of its periodic review. These four firms would be replaced by Bajaj Finance, Hindustan Petroleum Corporation Ltd, and UPL Ltd.
ACC Ltd, Bank of Baroda, Tata Power and Tata Motors Ltd DVR will move out from the NSE’s benchmark Nifty 50 index from 29 September 2017. Besides Nifty 50, IISL has also decided replacement of stock on various other indices including Nifty Next 50, Nifty 500, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, Nifty Midcap 50, Nifty 200, Nifty Small Cap 50 as well as sectoral indices like Nifty IT, Nifty Realty and Nifty PSU Banks.
Five companies — Bajaj Finance, Divi’s Laboratories, Hindustan Petroleum Corporation, United Breweries and UPL Ltd — would be excluded from Nifty Next 50 index which composes of 50 companies from Nifty 100 after excluding the Nifty 50 companies. These firms would be replaced by ACC Ltd, Avenue Supermarts, Bank of Baroda, MRF Ltd and Tata Power.
State Bank of India: India’s largest lender will cut its base rate by 5 basis points to 8.95% with effect from Sunday.
Titan: Company said its operational performance in the second quarter was close to their expectation despite GST implementation.
The Indian rupee on Thursday: The rupee today finally managed to get back on its feet after a three-session losing spree, recovering from over six-month lows to end 22 paise higher at 65.50 a dollar despite buoyant greenback overseas.
Indian markets on Thursday
Sensex and Nifty finally closed in green snapping the four consecutive days of heavy sell-off on Thursday. BSE Sensex added 182 points to hit the day’s high of 31,340.91 points before closing up 123 points at 31,282.48 points. NSE Nifty gained 54 points to mark the day’s high of 9,789.2 points before finishing 33 points higher at 9,769 points.
US markets on Thursday
Wall Street ended higher on Thursday, with the S&P 500 posting a record on gains in McDonald’s and healthcare names, while investors continued to hope President Donald Trump will be able to make progress on tax reform, Reuters reported. The Dow Jones Industrial Average rose 40.49 points, or 0.18 percent, to 22,381.2, the S&P 500 gained 3.02 points, or 0.12 percent, to 2,510.06 and the Nasdaq Composite added 0.19 points to 6,453.45.