Market Opens:
Benchmark indices opened on higher note on Friday with Nifty above 11,600 mark.
At 09:17 hrs IST, the Sensex is up 58.09 points or 0.15% at 38665.10, while Nifty is up 20 points or 0.17% at 11616.70. About 452 shares have advanced, 303 shares declined, and 31 shares are unchanged.
IOC, TCS, Infosys, ONGC, HPCL, BPCL, Tata Steel, RIL, Wipro, Power Grid, Cipla, Bajaj Finance are among major gainers, while losers are HCL Tech, Tata Motors, HDFC, Dr. Reddy's Lab, Adani Ports and Yes Bank.
All the sectoral indices are trading in green.
Rupee Opens :
The Indian rupee opened lower by 12 paise at 69.04 per dollar on Friday versus previous close 68.92.
On Thursday, the rupee ended at 68.92, gained 19 paise against the US dollar on the back of continued foreign fund inflows.
Rupee rose against the US dollar together with gains in the other Asian currencies; momentum for the local currency in the last couple of sessions has been positive following drop in global crude oil and as FIIs continued to pour funds in in Indian markets.
On the domestic front, inflation and industrial production number will be released. Expectation is that inflation could grow at a pace of 2.8% compared to 2.57% rise in the previous month. Industrial production also is expected to grow at a modest pace in February.
Today, USD-INR pair is expected to quote in the range of 69.05 and 69.80.
Global Markets :
Wall Street ends lower :
Healthcare stocks pulled Wall Street lower on Thursday as growing fears of a global economic slowdown countered upbeat economic data and investors waited for earnings season to kick into high gear.
Asian markets trade lower:
Asian shares were flat and US Treasury yields pulled back on Friday as investor caution prevailed ahead of the release of first-quarter corporate earnings, although stronger US economic data helped offset some concerns about global growth.
SGX Nifty:
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 33 points or 0.28 percent. Nifty futures were trading around 11,643-level on the Singaporean Exchange.
Crude Update:
Oil prices were firm on Friday, supported by ongoing supply cuts led by producer club OPEC and by US sanctions on petroleum exporters Iran and Venezuela.
Domestic Markets :
Here are stocks that are in the news today:
Results on April 12: TCS, Infosys, Alpha Hi-Tech Fuel, Ashika Credit Capital, Gangotri Textiles, GTPL Hathway, Integrated Capital Services, Infomedia Press, Minal Industries, Mold-Tek Technologies, Tinplate Company of India
Cipla launches Niveoli, India’s first extrafine ICS-LABA combination HFA inhale
Lumax Auto signed a joint venture agreement with Jopp Holding JmbH, Germany for manufacturing and sale of the automotive components
IDBI Bank: Bank reduced MCLR by 5-10 bps across various tenors w.e.f April 12.
Narayana Hrudayalaya has incorporated a wholly owned subsidiary company Narayana Health North America LLC in the State of Delaware, United States of America
Future Retail: Acuite Ratings & Research Limited has reaffirmed its rating on company's commercial paper at A1+.
Nitesh Estates approved the appointment of Rakesh Singh as chief executive officer of the company w.e.f. April 10,2019
AGC Networks Pte, wholly-owned subsidiary of AGC Network & AGC Networks Inc., wholly-owned Subsidiary of AGC Singapore, have jointly entered into a stock purchase agreement with COPC Holdings Inc. and Global Quality Assurance in USA to acquire 100% stake in the COPC Holdings for a purchase consideration of USD 5,500,000
ICICI Pru Life Insurance reduced stake in Coromandel International by 2.03 percent
Pasupati Acrylon has successfully commenced commercial production of second Line of cast Polypropylene Film (CPP) w.e.f. 26.03.2019
Prabhat Dairy: Company completed sale of its shareholding in wholly owned step down subsidiary, Sunfresh Agro Industries Private Limited (SAIPL) to Tirumala Milk Products Private Limited.
Jet Airways - additional ten aircraft have been grounded due to non-payment of amounts outstanding to lessors
Jet Airways: Etihad Airways submits expression of interest to acquire substantial stake (up to 49 percent) in company - CNBC-TV18 sources. Etihad Airways currently holds 24 percent stake in Jet Airways.
DHFL - Brickwork revised rating on secured NCD worth Rs 29,000 crore to BWR AA- from BWR AA
Arvind SmartSpaces - Indian Ratings and Research (IRA) has assigned rating of IND A1 to short-term loan of Rs 100 crore
Future Consumer - CARE reaffirmed CARE A1 rating to the company's commercial papers worth Rs 100 crore
Analyst or Board Meet/Briefings
Manappuram Finance: Company's officials will meet BOB Capital Markets on April 12.
Sterlite Technologies: Board to consider raising funds by issue of NCDs on private placement basis, March quarter earnings on April 23.
IDBI Bank: Board to consider issuing ESOPs to employees on April 16.
Gateway Distriparks: Company's officials will meet Oldbridge Capital on April 12.
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