Markets are likely to consolidate further on Thursday while trends in SGX Nifty suggest a positive opening. On Wednesday the BSE Sensex ended at 51,941.64, down 333.93 points or 0.64%. The Nifty closed at 15,635.35, down 104.75 points or 0.67%
MUMBAI: Markets are likely to consolidate further on Thursday while trends in SGX Nifty suggest a positive opening. On Wednesday the BSE Sensex ended at 51,941.64, down 333.93 points or 0.64%. The Nifty closed at 15,635.35, down 104.75 points or 0.67%.
Asian shares edged higher but held their recent trading range on Thursday as investors focussed on US inflation data and the risk of an upside surprise that could prompt the Federal Reserve to start tapering its massive stimulus.
Key companies that will announce their March quarter results today are Steel Authority of India (Sail), NHPC, Century Plyboards (India), Cera Sanitaryware, Mazagon Dock Shipbuilders, eClerx Services and National Fertilizers.
Yes Bank plans to raise funds in Indian or foreign currency by issuing debt securities. A meeting of the board of directors of Yes Bank will be held on Thursday to consider, approve and seek shareholders' approval for borrowing/raising funds. In a seperate development, the Central Bureau of Investigation (CBI) has filed a case against Gautam Thapar of Avantha Group for an alleged fraud worth ₹466 crore with Yes Bank.
India’s largest domestic airline IndiGo, which recently reported its fifth straight quarterly loss, primarily because of the covid pandemic, expects passenger traffic to revive domestically by the end of 2021 and internationally by mid-2022. However, structural issues such as low yields and high taxes will have to be addressed, the airline’s chief executive Ronojoy Dutta said in an interview.
Overnight, fixed income markets were the big movers, with some analysts pointing to a setback to more US stimulus efforts, while others suggested a likely clearing out of short positions ahead of the May CPI.
The yield on benchmark 10-year US Treasury notes slipped to 1.4891% from 1.528% late on Tuesday. A fall below 1.47% would take yields to the lowest since 4 March.
On Wall Street overnight, the S&P 500 came within a whisker of its all-time high set in May as big tech rallied along with healthcare stocks, but finished 0.1% lower. The Dow slipped 0.44% and the Nasdaq Composite fell 0.09%.