Home / Market / Stock-market-news /  Opening Bell | Rate sensitive stocks in focus with RBI policy due today

Asian markets slip

Asian shares slipped in early trade on Tuesday, pressured by losses on the Wall Street against a backdrop of slump crude oil prices and mixed messages on the outlook for US monetary policy. Japan’s Nikkei Stock Average plunged 2%, Hong Kong’s Hang Seng was down 1.4% and China’s Shanghai Composite declined 0.3%, read more.

Wall Street indices end lower

Overnight, the US markets ended lower after oil prices tumbled around 2.5% on Monday, with the markets still unnerved by comments on Friday by Saudi Arabia’s crown prince that cast doubts on an output freeze by major producers. The S&P 500 declined 0.3%, the Dow Jones Industrial Average fell 0.3% and the Nasdaq Composite was down 0.4%.

Rate sensitive stocks in focus

All eyes are on the Reserve Bank of India (RBI) policy on Tuesday as the central bank is expected to cut rates by at least 25 basis points after government stuck to its fiscal deficit target for FY17 and lowered interest rates on small savings schemes. However, with signs of improvement in the manufacturing sector and with higher output prices, there is need for a degree of caution, read more.

Blackstone to acquire stake in Mphasis

Mphasis Ltd shares will be in focus after Blackstone India, the Indian arm of global private equity fund Blackstone Group L.P., said it will buy 60.5% stake in the Bengaluru-based information technology services provider. Blackstone will buy the shares from Hewlett Packard Enterprise at 430 each and will spend between 5,466 crore and 7,071 crore for the acquisition.

Banks to invite buyers for ABG Shipyard stake

ABG Shipyard Ltd shares will be in limelight as lenders to the private shipbuilder have decided to issue a public notice inviting expression of interest from buyers keen to pick up a controlling stake in the company, reports Mint.

GP group to buy majority stake in Gammon India

Gammon India Ltd has accepted a proposal from Thailand-based GP Group to invest about 250 crore in its civil EPC (engineering, procurement and construction) business. Gammon India is in the process of transferring its civil EPC business to subsidiary Gammon Retail Infrastructure, as part of a restructuring it announced in November, read more.

Govt mulling FDI for food retailers

The government is considering allowing foreign direct investment (FDI) in online retailing of food products for retailers like BigBasket and Grofers. The government wants to bring it on a par with a budget proposal to permit full FDI in the sale of such items through brick-and-mortar stores provided they are sourced and processed in India, reports Economic Times.

Over 500 Indians in the list of Panama papers

Lastly, over 500 Indians figure among a list of individuals who have paid Mossack Fonseca, a law firm headquartered in tax haven Panama known for production of offshore companies for its worldwide clientele of the well-heeled, to set up offshore entities in tax havens around the world, according to an Indian Express report.

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