Stocks of State Bank of India, Reliance Communications, Force Motors will be in focus today

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Published: October 5, 2017 8:33:11 AM

Sensex and Nifty are likely to open higher on Thursday following the record-breaking streak of Wall Street markets on Wednesday.

National Stock Exchange building. (Image: Wikimedia Commons)

Sensex and Nifty are likely to open higher on Thursday following the record-breaking streak of Wall Street markets on Wednesday. The early indicator of NSE Nifty 50 — SGX Nifty Futures — was trading 0.24% down at 9,924 points on the Singapore Stock Exchange.

These stocks will be in focus today:

SBI: Rajnish Kumar on Wednesday was appointed as the new Chairman of the State Bank of India for three years. The current managing director with the bank Rajnish Kumar will take over Arundhati Bhattacharya whose term is ending this week.

Reliance Communication: Reliance Communications Ltd has decided to withdraw its plan to demerge its tower business, just a day after the company was in discussions with the Brookfield group to sell up to 100 per cent stake in its tower subsidiary instead of the 51 per cent it had earlier agreed upon, according to an agencies’ report accessed by CNBC TV18. The move comes in close on the heels of Reliance Communication’s failed merger attempt with Aircel, as the company scrapped the deal citing legal and regulatory uncertainties and interventions by various parties.

Force Motors: Force Motors reported September domestic sales at 2,798 units and exports stood at 336 units.

Indian Rupee on Wednesday

The Indian rupee recoiled heavily today after plunging to six-and-half-month low in September as the Reserve Bank of India kept the key policy rates unchanged. The rupee advanced as much as 49 paise to end at 65.01 per unit US dollar on Wednesday. During the day, the Indian rupee shuttled between the range of 64.95-65.38 against a piece US dollar.

Indian markets on Wednesday

Sensex and Nifty ended higher on Wednesday after welcoming the Reserve Bank of India’s move to keep the repo rates unchanged at 6% in its latest bi-monthly monetary policy today. BSE Sensex gained 174 points to close at 31,671.71 points and NSE Nifty jumped 55 points to finish at 9,914.9 points. In the intraday trade, the benchmark Sensex advanced as much as 230 points to hit the day’s high of 31,752.16 points while NSE Nifty added 79 points to mark the day’s high of 9,938.3 points.

US markets on Wednesday

US stocks edged up to extend their run of record closing highs on Wednesday as data on the services sector added to signs of strength in the economy and prospects for earnings. The Dow Jones Industrial Average rose 19.97 points, or 0.09 percent, to end at 22,661.64, the S&P 500 gained 3.16 points, or 0.12 percent, to 2,537.74 and the Nasdaq Composite added 2.91 points, or 0.04 percent, to 6,534.63.

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