Indian indices stabilized after a positive start on Thursday. All eyes will be on the basic industry data expected today. Asian stocks were mixed on Thursday as investors assessed the impact of soaring energy costs on inflation and the pandemic recovery.
Adani Green signs an agreement with Essel Green to acquire a solar asset in Odisha
Adani Green informed Thursday that its 100% subsidiary Adani Renewable Energy has signed definitive agreements with Essel Green Energy for the 100% acquisition of a special purpose vehicle (SPV) operated by Essel Green. The SPV includes an operating 40 MW solar project in Odisha. (Read more)
Kotak Mahindra, HDFC Bank’s best sleds
India records 23,529 cases of covid-19, 311 deaths; lowest number of active cases in 195 days
India recorded a single-day increase of 23,529 covid-19 cases on Thursday, bringing its number of infections to 3,37 39,980, while the number of active cases fell to 2,770,020, the lowest in 195 days, according to the Union Health Ministry. The data. The death toll from the disease has climbed to 4,48,062 with 311 daily deaths recorded, according to data updated at 8 a.m. The number of active cases fell to 2,770,020, or 0.82% of total infections – the lowest since March 2020, the ministry said. The national covid-19 recovery rate was recorded at 97.85%, the highest since March 2020, he added. There was a decrease of 5,500 cases in the number of active covid-19 cases within 24 hours. In addition, 15,06,254 covid-19 tests were carried out across the country on Wednesday, bringing the total number of such exams done so far to 56,895,564,439, the data showed.
Market Commentary: Manish Hathiramani, Owner Index Trader and Technical Analyst, Deen Dayal Investments
âThe index continues to face resistance at higher levels. The current importance level is 17,700 – we need to trade above for a positive bias to take hold. Until then, we will continue to see sideways price action. If we can break through 17,750-17,800 on the close, the Nifty will be on track to claim 1,800. 17,500 is strong support and until that doesn’t break the overall market trend is positive. “
Bharti Airtel soars
Bharti Airtel shares were trading at ??706 each, up 1.74% as of 10:17 a.m., ahead of a key press conference scheduled for later today.
Sterling and Wilson Solar are trading lower
Sterling and Wilson Solar shares were trading at ??402.10 each, down 3.05% at 9:58 am. The promoters of the company have repaid their debt of ??741 crore to Sterling and Wilson Solar, according to a regulatory record.
Adani Green wins
The company’s shares were trading at ??1,140.35 each, up 0.67% at 9:43 a.m. Adani Renewable Energy has signed definitive agreements with Essel Green Energy to acquire 100% economic value in a SPV that has an operating 40 MW solar project in Odisha.
India ready to expand economic partnership with United States (Goyal)
India and the United States are expected to engage much more broadly and New Delhi is ready and willing to expand the economic partnership with America, Trade and Industry Minister Piyush Goyal said on Wednesday. He also called for setting an ambitious bilateral trade target of $ 1 trillion over the next 10 years. Addressing the 4th annual US-India Strategic Partnership Forum (USISPF) leadership summit, Goyal said that while much effort has been put into negotiating a trade deal between the two countries under the previous US administration, it unfortunately did not work.
Glenmark pharma’s share was traded at ??511.00 each, up 0.35% at 9:30 a.m. The company has received marketing approval for Ryaltris, an innovative combined nasal spray, in 13 countries in the EU and the UK.
Power supply banks, the most successful metals
HDFC Bank and Kotak Mahindra Bank are Sensex’s top pickers
The Sensex opened at 59,549.57, up 136.3 points, or 0.23%, while Nifty was at 17,718.90, up 7.60 points, or 0.04%. PSU banks, real estate were the best winners.
Pre-opening of the market
At the pre-opening of the market, the Sensex was at 59,647.23, up 233.96 points, or 0.39%, while Nifty was at 17,711.30, down 37.30 points, or 0.21%.
Quote before market opened: Gaurav Udani, CEO and Founder, ThincRedBlu Securities
âNifty is expected to open flat to negative at 17,660, down 50 points. Nifty has support in 17,580-16,620 and resistance in the 17,780-17,820 range. Today, being the monthly expiration, we can see volatile markets. Buying troughs with a strict stoploss is the suggested strategy for traders. ”
Gasoline and diesel prices rose today after a day’s hiatus. Consult the latest prices
Gasoline and diesel prices rose across India on Thursday after a day’s hiatus. The price of gasoline has been increased by about 25 to 30 paise while diesel prices have increased from 28 to 32 paise per liter, according to the price notification by state oil companies. In Mumbai, gasoline was retailed to ??107.71 per liter. The diesel was sold at ??97.52 per liter. The prices of petrol and diesel in Delhi increased by 25 paise and 30 paise respectively. Vehicle owners will have to pay ??101.64 for a liter of gasoline, and ??89.87 per liter of diesel in the capital. (Read more)
IIFL Private Equity Records Big Returns with $ 50 Million CAMS Exit
IIFL Private Equity has completely abandoned its investment in mutual fund transfer agency Computer Age Management Services Ltd (CAMS) for $ 50 million ( ??353 crore), having invested in the company just over a year ago, said a person familiar with the development. (Read more)
Actions to watch
HDFC Bank, IOB, RIL, Piramal Enterprises, ZEE, among other stocks, could be in the news today. (Read more)
Markets are expected to remain volatile on Thursday as trends from SGX Nifty suggest a weak opening in Indian benchmarks. On Wednesday, the BSE Sensex finished at 59,413.27, down 254.33 points or 0.43% and the Nifty closed at 17,711.30, down 37.30 points or 0.21%. (Read more)
Mixed beginnings for Asian markets
Asian stocks were mixed on Thursday as investors assessed the impact of soaring energy costs on inflation and the pandemic recovery. Treasury bills rose slightly and the dollar reduced its advance. Japanese stocks fell as the new leader of the ruling party, who is expected to become the next prime minister, is seen by investors as maintaining stability. Australia has risen, while Hong Kong has fallen and China has changed little. US futures have soared. The Nasdaq 100 recorded its third consecutive day of losses after stopping a technology rally. Falling buyers helped push the S&P 500 higher.
Futures on the S&P 500 rose 0.3% at 10:30 a.m. in Tokyo. The S&P 500 rose 0.2%
Futures on the Nasdaq 100 rose 0.4%. The Nasdaq 100 fell 0.1%
The Topix index fell 0.5%
Australian S & P / ASX 200 index rose 1%
The Kospi index fell 0.1%
Hang Seng index fell 0.7%
Shanghai Composite Index rose 0.3%
US indices cripple their earnings
The rally in tech stocks fizzled out, weighing on the broader stock market. The S&P 500 slashed most of its earlier gains as a decline in technology offset a lead in defensive industries such as utilities and consumer staples. The dollar hit its highest level since November 2020, while Treasuries fluctuated. Federal Reserve Chairman Jerome Powell and his counterparts at the European Central Bank, the Bank of Japan and the Bank of England on Wednesday expressed cautious optimism that supply chain disruptions making increasing inflation rates around the world would end up being temporary. Traders remained alert to the potential for market disruption if politicians in Washington failed to raise the debt ceiling in time to avoid a default on US bonds. The US Treasury is expected to run out of borrowing capacity by the end of October, according to the Congressional Budget Office, in the latest warning to lawmakers following their unsuccessful efforts to tackle the debt ceiling this week.
The S&P 500 rose 0.2% at 4 p.m. New York time
The Nasdaq 100 fell 0.1%
The Dow Jones Industrial Average rose 0.3%
The MSCI World index fell 0.3%
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