Indian markets on Thursday ended on a flat and choppy note- driven by the mix global cues and F&O expiry day volatility. The 30-share BSE Sensex closed up 4.89 points, or 0.01 per cent at 55,949.10. While the 50-share Nifty50 ended up 2.20 points, 0.01 per cent at 16,636.90.
On Friday, Nifty futures on the Singaporean Stock Exchange was trading up 22.75 points, or 0.14 per cent at 16,660 signaling a positive start for the Indian markets.
However, The US benchmark S&P 100 could not sustain the record high gains made on Wednesday because of the uncertainty prevailing about the tapering of $120 billion asset purchase from the COVID-19 hit economy, just ahead of the Jackson Hole Symposium scheduled to happen on Friday where US Fed Chair Jerome Powell is expected to give some hints about the timeline of tapering of the stimulus. The Dow Jones Industrial Average on Thursday shed 192.38 points, or 0.5 per cent to 35, 213. The S&P 500, down 0.5 per cent to 4, 470,00. The US markets also factored in the developments in Afghanistan where 12 US service members killed off outside the Kabul Airport on Thursday as announced by the pentagon.
“Cool down in Volatility from recent highs has again given some strength to the market and now VIX needs to go below 12 zones to get more buying interest in broader market. Technically Nifty formed a similar to Doji candle on daily scale as it closed near its opening levels and negated its higher highs – higher lows formation of the last three sessions. Now it has to continue to hold above 16600 zones to extend the move towards life time high territory of 16700-16750 zones while on the downside support is seen at 16500 and 16380 levels,” Siddhartha Khemka, head – retail research, Motilal Oswal Financial Services said.
At 7.18 IST, apart from the US markets, Hongkong’s benchmark HengSeng index was trading down 66.82 points, 0.27 per cent at 25,335. Tokyo’s benchmark Nikkie 225 was down 126.99 points, 0.45 per cent at 27,618, South Korea’s Kospi index was trading up 2.98 points, 0.10 per cent at 3132.21, the Shanghai Composite shed 0.21 per cent to 3,494.42 giving a mix cue to Indian stock market.
Amid the muted trend in domestic equities on Thursday, the rupee rose by 2 paisa to close at 74.22 against the US dollar.
Here are some stock that would in focus today:
Wipro: Software giant Wipro on Thursday announced a global strategic partnership with DataRobot, a leader in Augmented Intelligence.
Jindal Poly Films: The Company has acquired 100 per cent share of Jindal India Solar Energy and now Jindal India Solar became a wholly owned subsidiary.
IDFC First Bank: The apex bank on Thursday approved the appointment of Sanjeeb Chaudhari as the part time chairman of the bank for next three years.
BHEL: The company has signed a memorandum of understanding with JSC Rosoboronexport, in order to cooperate and implement possible joint project with the BHEL.
GRM Overseas: The company’s promotors acquired 23, 802 equity shares in the company via open market transaction increasing shareholding to 71.70 per cent from earlier 71.51 per cent.
Avenue Supermarts: The company’s market capitalisation crossed Rs 2.5 lakh crore on Thursday and its stocks were at an all-time high.
Swan Energy: Energy company has started its floating terminal raising the country’s capacity to ship in the super chilled fuel by 12 per cent to 47.5 million per annum.
Onward Technologies: Credit Rating Agency ICRA has assigned long term rating for bank facilities of the company at BBB-/positive and short term rating at A3.
Poonawalla Fincorp: On Thursday, CARE ratings upgraded outlook for the company.
Affle India: The company on Thursday announced the stock splitting of its shares, and approves splitting each share into 5.
HDFC bank: India’s largest private lender has become first Indian bank to exclusively list $1 billion AT1 dollar bonds in IFSC.
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