The signals from the global market are mixed for the Indian markets today, on the second day of the Fed’s policy in the American markets i.e. on Thursday, trading took place with a lot of ups and downs. Asian markets also opened mixed today. Mixed business has also been seen in the European markets.
Upheaval in US markets
US markets were seen moving up and down on Thursday due to Fed’s policy, confusing statements by Janet Yellen. The Dow Jones slipped to 31,864 but managed to recover 240 points from lower levels to close at 32,105, a slight gain of 75 points, as Janet Yellen made a second statement, in which she retracted her statement the day before. Apart from this, she said that she will fully help the banks, if any kind of crisis comes. The Nasdaq closed 1% higher on the back of the ongoing rally in IT stocks, while the S&P500 gained more than a quarter of a percent. Mixed trading was seen in the European markets.
Mixed start in Asian markets
SGX Nifty opened at 17,107 in Asian markets today, but currently it is trading below 17,100 with a slight decline. Japan’s market Nikkei is also sluggish today. China’s market Shanghai seems to be trading with a decline of about 0.50%, but Hong Kong’s market Hang Seng is trading with a slight strength of 0.25%. Korea’s market Kospi is also weak by 0.50%.
Crude oil slips, rupee strengthens
There has been a brake on the rise of crude oil, Brent crude is showing functioning at $75 per barrel, WTI crude is also trying to come above $70. In the currency market, the rupee has strengthened by 39 paise to close at 82.20 against the dollar. Rupee has got the benefit of weakness in dollar in the global market. Traders say that after the softening of the tone of the Federal Reserve Bank, the weak US dollar and the decline in US treasury yields have seen an improvement in investor sentiment.
Apart from this, which stocks should you keep an eye on, where there can be movement on the basis of news.
Stocks in News
Hindustan Aeronautics: Government will exercise greenshoe option to sell additional 1.75% stake in the company as its offer for sale was subscribed 4.5 times of its base. The issue will open for retail investors on Friday.
Reliance Industries: Jio-BP, a joint venture between Reliance Industries and BP, and Piramal Realty, the real estate arm of the Piramal Group, have entered into a partnership to set up EV charging facilities in all their residential projects in the Mumbai Metropolitan Region.
Bharat Electronics: The company has bagged two contracts worth Rs 3,700 crore from the Ministry of Defense for the supply of medium power radar ‘Arudhara’ and 129 DR-118 radar warning receivers for the Indian Air Force.
Tata Steel: The company acquired the balance 1.35 crore shares (24.06%) of Tata Steel Advanced Materials, an indirect wholly owned subsidiary, from wholly owned unit Tata Steel Downstream Products for Rs 17.33 crore.
Infosys: The company’s US-based subsidiary Infosys Public Services deployed the Quantum Global Digital Management System for the United Nations Development Programme, which will provide services to eight UN agencies with a user base of 50,000 in 170 countries.
IDFC First Bank: The board has approved the allotment of 37.75 crore shares of Rs 58.18 each to wholly owned subsidiary IDFC Financial Holding Company on a preferential basis through private placement, taking the latter’s stake in the bank to 39.99% Is.
