Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 37 points or 0.34 percent. Nifty futures were trading around 10,730 - level on the Singaporean Exchange.
The Nifty50 is likely to open flat on Thursday following muted trend seen in other Asian markets. The index closed 131 points higher at 10,735 on Wednesday.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 37 points or 0.34 percent. Nifty futures were trading around 10,730 - level on the Singaporean Exchange.
US stocks ended higher on Wednesday after minutes from the Federal Reserve’s last meeting reaffirmed for investors that the US central bank would be “patient” with respect to further interest rate hikes, said a Reuters report.
Asian shares held near 4-1/2-month highs on Thursday after US Federal Reserve minutes affirmed it would be “patient” on interest rate rises and risk assets got a lift from hopes of further progress in US-China trade talks, it said.
Snapping a four-session downturn, the rupee appreciated by 23 paise to end 71.11 against the US dollar on Wednesday amid easing oil prices and a firm greenback.
Stocks in news:
PSU Banks: The government on February 20, announced final recapitalisation tranche amount of Rs 48,239 crore for as many as 12 public sector banks, in a bid to take them out of Reserve Bank of India’s (RBI) prompt corrective action framework.
The 12 banks are Allahabad Bank, Corporation Bank, Bank of India, Bank of Maharashtra, Punjab National Bank, Union Bank, Andhra Bank, Syndicate Bank, Central Bank, United Bank, UCO Bank and IOB.
Tech Mahindra: The board of Tech Mahindra will meet on Thursday to consider a proposal to buy back fully paid-up equity shares of the company. Shareholders would be keen to know the offer size and price.
Telecom stocks: The Digital Communications Commission in its meeting scheduled on Thursday is likely to discuss the Rs 3,050 crore cumulative penalty recommended by Trai on Airtel, Vodafone and Idea Cellular.
Aarti lndustries (AIL), which is into pharma and chemical businesses, Wednesday said it has bagged a Rs 900 crore contract to supply specialty chemical intermediate to a global firm.
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