The Nifty50 is likely to open lower on Thursday ahead of March F&O expiry tracking muted trend seen in other Asian markets. The index closed 38 points lower at 11,445 on Wednesday.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 31 points or 0.27 percent. Nifty futures were trading around 11,415-level on the Singaporean Exchange.
US stocks eased on Wednesday as Treasury bond yields fell again and a prolonged inversion in the yield curve fanned fears of a US economic slowdown, said a Reuters report.
Asian share markets were painted red on Thursday as recession concerns sent bond yields spiraling lower across the globe, overshadowing central bank attempts to calm frayed nerves, it said.
The rupee weakened marginally by 2 paise to close at 68.88 against the US dollar Wednesday amid strengthening of the American currency and robust selling in domestic equities. Stocks in news:
Private sector Axis Bank on Wednesday said it will consider raising funds in Indian as well as foreign currency by issuing debt instruments at its two-day board meeting beginning April 25.
Public sector Oriental Bank of Commerce (OBC) on Wednesday said it has allotted 13.89 crore equity shares to the government following capital infusion of Rs 1,186 crore into the bank.
The board of directors of PFC approved the market borrowing program of Rs 81,000 crore under different debt segments in one or more tranches/series for the next fiscal, it said in a statement.
Technical Recommendations:
We spoke to Bonanza Portfolio Ltd and here’s what they have to recommend:
Gruh Finance: Buy| CMP: Rs 269.05 | Target: Rs 290|Stop Loss: Rs 256.40|Return 8%
IGL: Buy| CMP: Rs 305.65 | Target: Rs 324|Stop Loss: Rs 296|Return 6%
RBL Bank: Buy| CMP: Rs 668.50 | Target: Rs 722|Stop Loss: Rs 644|Return 8%
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