Home / Market / Stock-market-news /  Opening Bell | Asian markets open higher; Adani, Tata Group in focus

Asian markets trade mostly higher

Asian markets were trading slightly higher on Monday morning following firm global cues. Japan’s Nikkei Stock Average stabilized and was trading up 0.2% following a sharp plunge on Friday after disappointing Tankan survey on large manufacturers. Markets in Hong Kong and China were shut on account of trading holiday.

US markets gain as Fed pauses on rates

On Friday, US markets ended on a firm note after solid US payroll data underpinned investor risk sentiment while dovish comments from Federal Reserve chair Janet Yellen the previous week kept the dollar in check. The S&P 500 advanced 0.6%, the Dow Jones Industrial Average gained 0.6% and the Nasdaq Composite was up 0.9%.

Assembly polls begin today

In India, assembly polls begin today in two states—West Bengal and Assam. Analysts say Prime Minister Narendra Modi’s party has a stronger chance of snatching power for the first time in tea-growing Assam, where the Bharatiya Janata Party (BJP) has opposed illegal immigration from neighbouring Muslim-majority Bangladesh. However, BJP is seen as having little chance in West Bengal against feisty chief minister Mamata Banerjee.

RBI may cut rates by 25 basis points

The Reserve Bank of India (RBI) may cut interest rates by at least 25 basis points (bps) on 5 April, comforted by an almost perfect setting of slowing inflation to 5.18% in February, narrowing fiscal deficit target for the current year and an improved rate transmission process.

Adani Group gets approval for controversial mining project

Adani Enterprises Ltd shares will be in focus as it won three mining leases for its $16 billion Carmichael coal project in Australia, moving a step closer to starting work at the controversial mine, read more.

Tata Steel may consider partial sale of its loss-making UK steel unit

Tata Steel Co. Ltd shares will be in limelight as it will need to consider various options for its loss-making UK steel unit, with the likelihood of finding a buyer for a partial sale of the assets the most probable outcome. Other options include reducing the size of the business and pushing the UK and other European governments to step in, read more.

Sanjeev Gupta keen on acquiring Tata Steel assets

Sanjeev Gupta, the 44-year founder of trading company Liberty House, has emerged as a white knight that could save Tata Steel’s UK business from an imminent shutdown and job losses, reports Economic Times. Gupta is eager to turn around a company that is running into losses for almost a decade and has already begun discussions with the UK government.

Adani Ports gets TN nod to buy Kattupalli port

Adani Ports and Special Economic Zone Ltd has won approval from the Tamil Nadu government to acquire Kattupalli port located at Ennore near Chennai from L&T Shipbuiling Ltd, crossing a hurdle in the plan that was announced in November, read more.

Mallya’s 4,000 crore offer does not interest banks

Vijay Mallya needs to double the 4,000 crore settlement offer he has made to the 17-lender group that’s seeking repayment of more than 9,000 crore in dues from Kingfisher Airlines, as the offer is not good enough in view of the banks, reports Economic Times. The bankers have to respond to the proposal at the next Supreme Court hearing scheduled for 7 April.

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