Market opens:
Indian indices opened higher on Tuesday with Nifty hovering around 11,500 level.
The Sensex is up 108.79 points at 38203.86, while Nifty is up 18.80 points at 11481. About 557 shares have advanced, 296 shares declined, and 44 shares are unchanged.
Gainers include Sun Pharma, BPCL, RIL, Bharti Airtel, SBI, Axis Bank, PNB, Canara Bank, while losers are Maruti Suzuki, Eicher Motors, ICICI Bank, Hero Moto, M&M, Bajaj Auto and L&T.
Among the sectors, auto, infra and metal are under pressure, while pharma, IT, energy and bank are witnessing buying interest.
Rupee Opens:
The Indian rupee opened flat at 68.55 per dollar on Tuesday against previous close 68.53.
Rupee has extended its gains as India's trade deficit has fallen to 17- month low. FIIs inflows are strong in the market. This is supporting the rupee.""68-68.20 in the spot may act as key support for the USD-INR in the short term.
Rupee rose to the highest level in seven months following sustained inflows by FIIs in equity and debt segment. Until now the FIIs in March have poured in funds worth USD 3.8 billion suggesting that they are bullish on the Indian growth story.
On the other hand, India’s trade deficit for February narrowed to a 17-month low of USD 9.6 billion in February as merchandise imports fell on the back of lower crude oil prices.
On the global front, global crude oil prices have started to rally and that could put pressure on the rupee. Today, USD-INR pair is expected to quote in the range of 68.40 and 69.05.
Global Markets :
Asian market trade flat:
Asian shares treaded water on Tuesday ahead of a US Federal Reserve policy meeting, hovering near six-month highs, while sterling was choppy as the speaker of Britain's parliament banned another vote on same Brexit deal.
SGX Nifty:
Trends on SGX Nifty indicate a flat opening for the broader indices in India, a gain of 13 points or 0.11 percent. Nifty futures were trading around 11,524-level on the Singaporean Exchange.
Wall Street ends higher:
Banks and tech helped lead Wall Street higher on Monday, while Boeing and Facebook were a drag and investors eyed this week's US Federal Reserve meeting for affirmation of its commitment to "patient" monetary policy.
Gold Update:
Gold prices rose for a third consecutive session on Tuesday as the dollar weakened on expectations that the US Federal Reserve will maintain a dovish tone at its monetary policy meeting this week.
Domestic Markets :
Here are the stocks that are in news today:
Orbit Exports: Board approved the buy-back of fully paid up equity shares for an amount upto Rs 10 crore at a price upto Rs 130 per share.
Vakrangee: RBI renews the authorization issued to company for White Label ATMs
Aegis Logistics: Board approved interim dividend of 50 paise on equity shares of face value of Re 1 each.
HCL Technologies entered into a shared services arrangement with Xerox Corporation
Reliance Communications: The agreements dated December 28, 2017 and August 11, 2018 entered into between company, RTL, RITL (RCOM Group) and Reliance Jio respectively for sale of certain specified telecom assets have been terminated today by mutual agreement.
Reliance Communications: Company made payment of Rs 458 crore to Ericsson as per Supreme Court orders - CNBC-TV18.
Tata Motors clarified that Jaguar Land Rover is conducting a voluntary recall following the identification of C02 performance variability with certain 2016-2019 MY Jaguar and Land Rover vehicles fitted with 2. OL diesel or petrol engines.
Aarti Industries: Board approved raising of funds by way of issue of equity shares, through, a QIP.
Coffee Day Trading subsidiary of Coffee Day Enterprises and Mr. V.G. Siddhartha (Promoter of the Company) have signed a definitive agreement to sell their entire stake in Mindtree
Amines & Plasticizers: ICRA assigned long term rating at BBB+ and outlook positive to company's bank loan facilities.
Majesco: Company acquired insurance software business in India issued by Majesco, USA, subsidiary company.
IL&FS Transportation Networks: Company defaulted in payment of principal and interest due on non-convertible debentures.
Hotel Leela Venture: Company to sell its hospitality & hotel operations business on slump sale basis to Brookfield.
ISGEC Heavy Engineering fixed March 29 as record date for sub division of equity shares
RattanIndia Infrastructure: Vikas Adukia is appointed as the Chief Financial Officer of the company.
Adani Ports: Board approved the buyback of 14,000 non-convertible debentures (NCDs) aggregating to Rs 1,400 crore from the existing debenture holders in one or more tranche through negotiated deals.
FIEM Industries: Company declares interim dividend of Rs 8 per share for the financial year 2018-19.
Pidilite Industries: Chief financial officer P Ganesh resigned.
Voltas introduces, industry''s first, Adjustable Inverter AC range, with the unique value proposition of Flexible Air Conditioning
Canara Bank: Bank plans to raise long term foreign currency funds by issuing Senior Unsecured Bonds in the international markets to the extent of $500 million.
Emami: SAT quashes SEBI order against company - CNBC-TV18.
L&T, Mindtree: L&T signs deal to buy VG Siddhartha’s entire stake in Mindtree for Rs 981 per share: CNBC-TV18 sources.
Talwalkars Better Value promoter entity sold 0.23% stake in market on March 15
Bulk Deals on March 18
NSE
DHFL: PGGM World Equity BV bought 25,16,898 shares of the company at Rs 136.55 per share
Mindpool Technologies: Keyur Bipinkumar Shah purchased 24,000 shares of the company at Rs 16.5 per share
Reliance Communications: IndusInd Bank Client A/C sold 2,76,05,034 shares of the company at Rs 4.04 per share.
Reliance Infrastructure: PGGM World Equity BV bought 14,60,946 shares of the company at Rs 135.93 per share.
Suumaya Lifestyle: Newedge Vinimay Private Limited sold 3,20,000 shares of the company at Rs 29.9 per share.
BSE
Bharti Infratel: Bharti Airtel subsidiary Nettle Infrastructure Investments Limited bought 16 crore shares of the company at Rs 316.80 from Bharti Airtel.
Analyst or Board Meet/Briefings
The New India Assurance Company: Board meeting is scheduled on March 27 to consider general matters of the company.
BEML: Board meeting is scheduled on March 21 to consider the interim dividend for the financial year 2018-19 on equity shares.
Aster DM Healthcare: Company is participating in the Kotak India Investment Forum being held at Singapore on March 19, where meetings shall be held with various investors/analysts.
PI Industries: Meeting with investor namely Canara HSBC Life Insurance is scheduled to be held on March 19.
Tata Chemicals: Company's officials will meet NVS Brokerage Pvt. Ltd. on March 19.
Allahabad Bank: Board meeting is scheduled on March 26 to consider capital raising plan.
Mahindra Logistics: Group Meeting (warehouse site visit) with various Institutional Investors is scheduled to be held on March 19.
Emmbi Industries: Company's officials will meet TrustLine Holdings on March 19 in Mumbai.
Aarti Industries: Board meeting is scheduled on March 22 to consider the issue price for equity shares to be allotted to the qualified institutional buyers in the proposed Issue, including a discount, if any.
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