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The Nifty50 is expected to open flat on Monday following weak trend seen in other Asian markets and weak handover from Wall Street. The index closed 116 points lower at 9,998 on Friday.
Trends on SGX Nifty indicate a negative opening for the broader index in India, falling 39 points or 0.39 percent. Nifty futures were trading around 10,033-level on the Singapore Stock Exchange.
Wall Street tumbled on Friday with more than 1,000 points knocked off the Dow in two days as investors, increasingly nervous about a potential US trade war with China, shied away from risk ahead of the weekend and sought shelter from further losses, Reuters reported.
The Dow Jones Industrial Average fell 424.69 points, or 1.77 percent, to 23,533.2, the S&P 500 lost 55.43 points, or 2.10 percent, to 2,588.26 after hitting an intraday low that was barely above its 200-day moving average of 2585.22.
Asian markets traded lower on Monday, following a global sell-off late last week amid fears that rising tensions between the United States and China could lead to a full-blown trade war, CNBC reported.
In Japan, the Nikkei 225 fell 1.02 percent in early morning trade. The Topix index was down 0.83 percent. Across the Korean Strait, the Kospi fell 0.41 percent.
SFIO probes Fortis Healthcare, Religare Enterprises for alleged frauds
New Kid on the block: Lemon Tree Hotels IPO to open on March 26. Lemon Tree Hotels, the last initial public offering of the financial year 2017-18 will open for subscription on March 26, 2018.
The hotel chain company is aimed to raise Rs 1,001.6-1,038.7 crore through the issue at a price band of Rs 54-56 per share.
Bharat Financial Inclusion: Completed direct assignment of Rs 1,391 crore to two banks, one private and one public.
BHEL: The company has signed Technology Transfer Agreement with ISRO for the manufacture of Space Grade Lithium-ion cells.
NTPC: The firm has commissioned 800 MW Lara super thermal power project.
Tata Power: Signs Share Purchase Agreement With Tata Sons To Sell 59 Cr Shares In Panatone Finvest
Unitech: HDFC Invokes 6.5 Cr Shares Of Co Pledged By Promoter Sanjay Chandra
Jain Irrigation: Promoter Creates Pledge On 13.5 Lakh Shares On March 12
HCL Tech: Transfers Entire Stake In Arm HCL Training To Another Arm HCL Comnet
NHPC: It has commissioned 50 MW Solar Power Project In Theni, Tamil Nadu
Fortis Healthcare: Shareholding of BlackRock Inc in the company has moved above 5 percent.
SRF: DSP BlackRock MF's shareholding in the company increased to 5.14 percent on March 21.
Va Tech Wabag has incorporated a subsidiary company in the name of 'VA Tech Wabag Brazil Servicos DE AGUA E SANEAMENTO LTDA.
Precision Camshafts subsidiary PCL (International) Holding BV acquired 76 percent shareholding in MFT Motoren und Fahrzeugtechnik GmbH, Germany.
Marathon Nextgen Realty has fixed April 6 as the record date for a split of the face value of the equity shares of the company from existing Rs 10 each to Rs 5 each
Technical Recommendations:
Here’s what Chartviewindia.in has to recommend:
Power Grid: BUY| Target Rs211| Stop Loss Rs187| Return 8%
Pidilite Industries Ltd: BUY| Target Rs970| Stop Loss Rs885| Return 7%
JK Lakshmi Cement: BUY| Target Rs503| Stop Loss Rs405| Return 11%
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