Sensex and Nifty are likely to open lower as most of the Asian shares slumped in the early trade on Tuesday following the rising tensions on the Korean Peninsula. The early indicator of NSE Nifty 50 — SGX Nifty Futures — was trading little changed, down 0.16% at 9,868 points on the Singapore Stock Exchange. North Korea’s foreign minister said on Monday that a weekend tweet by President Donald Trump counted as a declaration of war on North Korea and that Pyongyang reserved the right to take countermeasures, including shooting down US bombers even if they are not in its airspace, Reuters reported.
The following stocks will be in focus today
The Reserve Bank of India has amended the statutes making it possible for lenders to invest in Reits and InvIts capping such exposures to 10 per cent of the unit capital of such instruments, and also to regulate their commodity derivatives play, following which real estate stocks will be in focus today such as DLF, Oberoi Realty, Indiabulls Real Estate, and several others.
Dena Bank: LIC has acquired an over 4.5 per cent stake in public sector lender Dena Bank in preferential allotment of shares over a period of nearly three months to mid-September.
Yes Bank: Midsize private sector lender Yes Bank claimed that its credit card portfolio has grown to over Rs 250 crore with 2 lakh customers within one year of entering the segment. “We are running ahead of time in achieving milestones which we had set for ourselves. Our focus is on building the user-base right now and we have 2 lakh cards now,” PTI reported citing retail head Pralay Mondal. Its head of credit cards Rajanish Prabhu said the total size of the portfolio is over Rs 250 crore and it does not have any issues with regard to asset quality.
BHEL: State-owned power equipment maker BHEL has received shareholders’ approval for the proposal to issue 1 new equity bonus share for every 2 existing shares. The proposal to issue bonus share in the ratio of one bonus share for every 2 existing shares to members was listed on the agenda for annual general meeting held on September 22, 2017, which as passed by the requisite majority, Bharat Heavy Electricals Ltd (BHEL) said in a BSE filing.
Jaiprakash Associates: Jaypee group’s flagship company Jaiprakash Associates said its shareholders have approved the proposal to raise up to Rs 2,000 crore through sale of securities. The special resolution was approved by the shareholders at the company’s annual general meeting held on September 23.
Novartis India: Drug firm Novartis India’s board has approved buyback of up to 34.5 lakh shares, accounting for about 12.26 per cent of the existing paid up capital of the company, for up to Rs 231.15 crore.
PNB Housing Finance: PNB Housing Finance is looking at raising Rs 710 crore by issuing debt securities on private placement basis today.
PM Narendra Modi’s address at ONGC’s new corporate office
After free LPG connection to poor, Prime Minister Narendra Modi yesterday announced giving free electricity connection to over 4 crore households by December 2018. Using the occasion of birth centenary of Hindutva ideologue Deendayal Upadhaya to launch the Pradhan Mantri Sahaj Bijli Har Ghar Yojana or Saubhagya (meaning good luck), Modi said free electricity connections will be provided to the 4 crore out of 25 crore households which are still without electricity.
Prime Minister Narendra Modi yesterday invited India’s biggest oil and gas producer ONGC to take up a challenge of developing an energy efficient electric cooking stove. Addressing officers and staff of ONGC at the inauguration of the firm’s new corporate office and launch of electricity scheme ‘Saubhagya’, the prime minister exhorted them to work towards making an efficient electric chulha (stove), which would enable cooking through the use of electricity. The prime minister said this innovation would, in one stroke, significantly impact the nation’s dependence on imported fuel.
Indian Rupee on Monday: The rupee plunged by 31 paise to a fresh six-month low of 65.10 a dollar after heavy buying of the US currency and concerns on the macroeconomic front.
Indian markets on Monday
Sensex and Nifty fell heavily for the second consecutive day to close lower on Monday after partially recovering in the late afternoon trade. BSE Sensex ended down points 296 points at 31,626.39 points and NSE Nifty settled 91 points lower at 9,872.6 points. The key equity indices extended last week’s losses and plummeted drastically today, the benchmark Sensex lost as much as 448 points to hit a day’s low of 31,474.56 points to a one-month low and broader Nifty 50 shed 148 points to hit the day’s low of 9,816.05 points in the intraday. The geopolitical tensions in North Korea and continuous FII (foreign institutional investors) outflows led to nervous moments ahead of derivatives expiry due on Thursday.
US markets on Monday
Wall Street dipped on Monday, as a selloff in technology shares weighed heavily on the Nasdaq, while the most recent statement from North Korea’s to Washington added to a cautious tone. North Korea’s foreign minister said President Donald Trump had declared war on the country and it reserved the right to take countermeasures, including shooting down US bombers even if they are not in its airspace. The Dow Jones Industrial Average fell 53.84 points, or 0.24 percent, to 22,295.75, the S&P 500 lost 5.56 points, or 0.22 percent, to 2,496.66 and the Nasdaq Composite dropped 56.33 points, or 0.88 percent, to 6,370.59.