US stocks end lower; Asian markets follow suit
US equities failed to hold earlier gains on Wednesday as investors digested President Donald Trump’s outline for tax reform, while earnings season continued.
Markets in Asia were lower in early Thursday trade, following the lower close on Wall Street.
Sensex closes at record high of 30,133, Nifty maintains 9,300, rupee at 21-month high
The BSE’s benchmark Sensex index closed above the 30,000 mark for the first time on Wednesday, riding a worldwide stock rally fuelled by central-bank asset buying.
HDFC may sell realty, digital units to Quikr for 5% stake
Housing Development Finance Corp. Ltd (HDFC) is in talks with online classifieds company Quikr India Pvt. Ltd to sell its brokerage business HDFC Realty and its digital business HDFC Red in an all-stock deal, reports Mint.
Sebi introduces new products, deepens Indian markets
The board of capital markets regulator, the Securities and Exchange Board of India (Sebi), met under new chairman Ajay Tyagi for the first time. Investors can instantly redeem liquid mutual funds up to ₹ 50,000 a day. Sebi also allows investors to use e-wallets to buy mutual funds up to ₹ 50,000 per financial year.
S Chand IPO subscribed 52% on Day 1
The initial public offer of text book publisher S Chand and Company was subscribed 52% on the first day of bidding on Wednesday.
New forecast renews India’s El Niño worries
US-based International Research Institute for Climate and Society has predicted there’s higher probability of El Niño occurring during the peak of monsoon season, which is not in sync with the near-normal monsoon forecast by the India Meteorological Department (IMD) earlier in April.
Axis Bank Q4 profit down 43% to Rs1,225 crore
Private sector lender Axis Bank Ltd on Wednesday said that its net profit for the fourth quarter dropped 43.13% on higher provisioning.
Biocon, Kotak Mahindra Bank, Maruti, TVS Motors are among the companies that will be announcing their March quarter earnings on Thursday.