Market Opens:
It is flat start for the Indian indices ahead of RBI policy meeting.
At 09:19 hrs IST, the Sensex is up 45.55 points at 38922.67, while Nifty is up 5 points at 11649. About 523 shares have advanced, 307 shares declined, and 52 shares are unchanged.
Indiabullls Housing, Hero Motocorp, Titan, UltraTech Cement, L&T, Vedanta, Bharti Airtel, SRF, Godrej Agrovet are among major gainer, while losers are Wipro, HCL Tech, Zee Entertainment, UPL, BPCL, JSW Steel and Tata Steel.
On the sectoral front, except IT and metal, all other sectoral indices are trading in green.
Rupee Opens :
The Indian rupee opened lower by 11 paise at 68.53 per dollar on Thursday versus 68.42 yesterday.
The greenback eased against a basket of currencies to 97.031. The euro edged up to $1.1246, while reaching a two-week top on the yen at 125.45.
Sterling gained to $1.3179 after Prime Minister Theresa May held talks with the opposition Labour party in a bid to break the Brexit deadlock that may lead to a softer departure deal with the EU.
The lower house of Britain's parliament late on Wednesday also narrowly passed legislation which would force May to seek a delay to Brexit in order to prevent the risk of leaving without a deal on April 12.
Global Markets :
Asia trade firm:
Asian shares paused near an eight-month peak on Thursday as investors awaited developments on trade talks between the United States and China, who appear closer to signing a deal, nudging bond yields higher globally and softening the safe-haven yen.
MSCI's broadest index of Asia-Pacific shares outside Japan took a breather after five straight days of gains took it to its highest since late August.
Japan's Nikkei was also flat to stay near a recent one-month top.
SGX Nifty :
Trends on SGX Nifty indicate a positive opening for the broader indices in India, a gain of 31.50 points or 0.27 percent. Nifty futures were trading around 11,744-level on the Singaporean Exchange.
Wall Street ends higher :
US stocks edged higher on Wednesday, extending a strong start to the quarter as a rally among chip maker shares provided a boost to the broader market on growing hopes of a trade deal between Washington and Beijing.
Risk sentiment this week was helped by media reports touting progress in Sino-U.S. trade talks. Bloomberg reported on Thursday the U.S. wanted to set a 2025 target for China to meet trade pledges.
The plan would see China committing to buy more U.S. commodities, including soybeans and energy products, and allow full foreign ownership for U.S. companies operating in China as a binding pledge.
On Wednesday, the Financial Times reported the United States and China were closer to reaching a final trade agreement.
The Dow rose 0.15 percent, while the S&P 500 gained 0.21 percent and the Nasdaq 0.6 percent
Crude Update :
Oil prices dipped on Thursday, with Brent edging away from the psychologically important USD 70 level after easing in the previous session on data showing a surprise build in US inventories.
Oil prices weathered U.S. government data that showed a surprise build in crude inventories, with futures near their highest in almost five months as OPEC-led output cuts and sanctions on Iran tightened the supply outlook.
U.S. crude eased 4 cents to $62.42 while Brent crude rose 10 cents to $69.41.
Gold Updates :
Gold prices inched up on Thursday as the dollar eased and a rally in equities paused, while investors kept a close watch on Sino-US trade talks. spot gold nudged up to $1,292.21 per ounce.
Domestic Markets :
Here are stocks that are in the news today:
Bank, Realty, Auto stocks in focus: RBI will announce monetary policy committee decision on April 4
Reliance Industries enters into a strategic transaction with Haptik, India's leading Conversational AI Platform
Coffee Day Enterprises: Company to invest Rs 26 crore in Coffee Day Consultancy Services.
Coastal Corporation: Company settled case with SEBI.
Ajanta Pharma: Dr Anil Kumar resigned as Independent Director of the company.
Indo Rama Synthetics (India): Company allotted 8.3 crore shares by way of preferential issue on private placement basis, aggregating amount Rs 298.8 crore to Indorama Netherlands BV.
GRUH Finance receives observation letters from stock exchanges for amalgamation of the company into and with the Bandhan Bank
Ceat approved scheme of amalgamation between company and its subsidiary
SKF India: Prasad R Menon has tendered his resignation as a Director.
KPI Global Infrastructure: Company received order of 720KW solar power plant under Captive Power Producer (CPP).
SRF informed that the Gujarat site should resume operations at the earliest
Tata Global Beverages' Russian subsidiary being liquidated consequent to completion of the restructuring
Coffee Day approved to enter into business transfer agreement with Coffee Day Econ
Godrej Agrovet acquired additional 10.91% of the paid-up equity share capital of Godrej Maxximilk
Godrej Properties adds a new luxury residential project in Mumbai
Bombay Wire Ropes: Board appointed Dilip S More as Chief Financial Officer.
Suven Life Sciences: Company secured product patents in Israel, Japan, New Zealand and Sri Lanka.
Jet Airways: Company defers March salaries to all employees - CNBC-TV18 Sources
Shriram Transport Finance: Board approves raising up to $2 billion via global MTNs and $750 million via overseas debt.
Tata Coffee to consider financial results for the financial year ended March 31, 2019 and recommend dividend - if any, on April 19
Fortis - CARE revised long term rating to CARE BBB- from CARE C
Igarashi Motors - CARE assigned rating as CARE A+; outlook Stable for long term bank facilities
Analyst or Board Meet/Briefings
Motherson Sumi Systems: Board meeting is scheduled on May 27 to consider Q4 and FY19 results and to recommend dividend, if any.
Neuland Laboratories: Board meeting is scheduled on May 16 to consider Q4 and FY19 results.
Firstsource Solutions: Board meeting is scheduled on May 6 to consider Q4 and FY19 results.
Tata Coffee: Board meeting is scheduled on April 19 to consider Q4 and FY19 results and to recommend dividend, if any.
Tata Elxsi: Board meeting is scheduled on April 24 to consider Q4 and FY19 results and to recommend dividend, if any.
JSW Steel: Board meeting is scheduled on April 24 to consider Q4 and FY19 results and to recommend dividend.
Bal Pharma: Board meeting is scheduled on May 29 to consider Q4 and FY19 results and to recommend dividend, if any.
Endurance Technologies: Board meeting is scheduled on May 14 to consider Q4 and FY19 results.
Mukand: Board meeting is scheduled on May 20 to consider Q4 and FY19 results.
GVK Power: Board meeting is scheduled on May 24 to consider Q4 and FY19 results.
Finolex Industries: Company's officials will meet Emkay Global Financial Services on April 4.
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