Sensex and Nifty are likely to open higher on Tuesday following the record closing of Wall Street stocks on Friday.
Sensex and Nifty are likely to open higher on Tuesday following the record closing of Wall Street stocks on Friday. The early indicator of NSE Nifty 50 — SGX Nifty Futures — was also trading 0.57% up at 9,896.5 points on the Singapore Stock Exchange. The outcome of RBI policy meeting, macroeconomic data points and investment trend of overseas investors will guide the Indian stock markets this week. Foreign institutional investors pulled out over Rs 11,000 crore from stock markets in September.
These stocks will be in focus today
Maruti Suzuki: The country’s largest car maker Maruti Suzuki India (MSI) reported 9.3 per cent increase in total sales at 1,63,071 units in September.
Hero MotoCorp: The country’s largest two wheeler maker Hero MotoCorp has sold over a million units in the festive season so far, PTI reported.
Bajaj Auto: Bajaj Auto reported 14 per cent increase in total sales at 4,28,752 units in September.
Eicher Motors: Royal Enfield, the two-wheeler division of Eicher Motors reported a 22 per cent rise in sales at 70,431 units in September.
TCS: IT major Tata Consultancy Services said a US court has more than halved the compensatory and punitive damages demanded from the company to USD 420 million in a lawsuit filed by Epic Systems Corporation.
Dr Reddy’s: Dr Reddy’s Laboratories has launched in the American market generic Sevelamer carbonate tablets used for controlling serum phosphorus in people with chronic kidney disease on dialysis.
Reliance Communication: Telecom operators Reliance Communications and Aircel had terminated their mobile business merger deal. “Merger of the mobile business of RCom and Aircel lapses with mutual consent,” Reliance Communications said in a release.
Coal India: The world’s largest coal miner, CIL, is lining up nearly Rs 8,500 crore as capital expenditure and Rs 6,500 crore for various other projects in the ongoing fiscal. The projects include a supercritical thermal power plant, solar energy and coal gasification.
Tata Motors: State-run Energy Efficiency Services said it will procure 10,000 electric cars from Tata Motors, an order valued at around Rs 1,120 crore. Tata Motors reported a 25 per cent increase in domestic sales at 53,965 units in September.
DLF: Realty major DLF has got the shareholders approval for the promoters’ decision to sell their entire 40 per cent stake in the rental arm for Rs 11,900 crore. This deal, the biggest in the country’s realty space, included sale of 33.34 per cent stake in DLF Cyber City Developers Ltd (DCCDL) to Singapore’s sovereign wealth fund GIC for Rs 8,900 crore and a buyback of the remaining shares worth Rs 3,000 crore by DCCDL.
Hindustan Unilever: FMCG major HUL has signed an agreement to divest 50 per cent stake in joint venture Kimberly-Clark Lever Pvt Ltd (KCLL) to its partner Kimberly-Clark Cooperation(KCC).
LIC: The country’s largest Life Insurance Corporation paid Rs 2,207 crore as dividend to the government for 2016-17.
SBI: State Bank of India will tender shares worth over Rs 99 crore as part of a share buyback programme by its subsidiary SBI DFHI.
Tourism Finance Corporation of India and IFCI: Infrastructure term lender IFCI sold 24 per cent stake in Tourism Finance Corporation of India (TFCI) for over Rs 290.63 crore.
Reduction in GST tax slabs: Finance Minister Arun Jaitley hinted that there is scope for lesser slabs under the Goods and Services Tax (GST) once there is revenue buoyancy.
Forex Reserves: After touching a record high, the foreign exchange reserves declined marginally by USD 262.3 million to USD 402.246 billion in the week to September 22, due to a fall in foreign currency assets, the RBI data showed.
Indian rupee on Friday: The rupee today rose by another 22 paise to 65.28 a dollar.
Indian markets on Friday
The key equity index Sensex ended flat while GAIL helped Nifty to finish on a positive note on Friday. The benchmark indices traded higher till the late afternoon trade but pared gains to close with minimal upside today. BSE Sensex settled flat at 31,283.72 points while NSE Nifty ended 20 points higher at 9,788.6 points helped by the surge in shares of GAIL. The 30-share barometer Sensex rose 241 points to hit the day’s high of 31,523.87 points while the broader Nifty 50 jumped 85 points to mark the day’s high at 9,854 points in the intraday trade today.
US markets on Friday
US stocks started the fourth quarter on a strong note on Monday, with all three major indexes hitting record high closes as data pointed to underlying strength in the economy. The Dow Jones Industrial Average rose 152.51 points, or 0.68 percent, to 22,557.6, the S&P 500 gained 9.76 points, or 0.39 percent, to 2,529.12 and the Nasdaq Composite added 20.76 points, or 0.32 percent, to 6,516.72.