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The Nifty50 is expected to open higher on Tuesday following positive trend seen in other Asian markets and strong handover from Wall Street. The index closed 132 points higher at 10,130 on Monday.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 19.5 points. Nifty futures were trading around 10,170-level on the Singaporean Exchange.
Wall Street scored its best day in 2-1/2 years and the Dow Jones Industrial Average saw its third-biggest point gain ever on Monday, as trade war fears eased on reports the United States and China are willing to renegotiate tariffs and trade imbalances, Reuters reported.
The Dow Jones Industrial Average rose 669.4 points, or 2.84 percent, to 24,202.6. The two larger point gains for the Dow were in October 2008. The S&P 500 gained 70.29 points, or 2.72 percent, to 2,658.55 and the Nasdaq Composite added 227.88 points, or 3.26 percent, to 7,220.54. 7,220.54
Asian stocks rose on Tuesday after Wall Street rebounded on the first day of the trading week amid a slight easing in trade tensions. The Nikkei 225 rose 1.67 percent while the Topix gained 1.76 percent. Seoul's Kospi also gained in the early going. The benchmark added 0.66 percent, CNBC reported.
Bandhan Bank: Bandhan Bank shares to get listed on March 27 after its IPO was oversubscribed by 14.6 times. The bank proposed to raise Rs 4500 crore from the IPO.
Wockhardt arm Wockhardt Bio AG gets USFDA nod for Oxacillin sodium injectable
Aurobindo Pharma gets tentative USFDA nod for Emtricitabine (20 mg) Capsules
ICICI Bank: The bank has allotted 1,07,215 shares of face value Rs 2 on March 26 under the ESOP scheme.
Capital First: Merger with IDFC Bank has received the nod of National Stock Exchange (NSE).
MCX India: MCX brass futures contract debuts with volume of Rs 14.71 crore.
Tata Metaliks: Operations at Kharagpur plant to be hit due to planned shutdown at its blast furnaces, sinter plant and captive power plants between March 26 and April 6, 2018.
Power stocks: Power minister RK Sinha has said that he has proposed NTPC, PFC, REC to make SPV to operate stressed assets.
Punj Lloyd has received a contract worth Rs 505 crore in Odisha on EPC Basis by NHAI.
Technical Recommendations:
Here’s what HDFC Securities has to recommend:
Bajaj Electricals: BUY| Target Rs618 | Stop-loss Rs530 | Return 10%
Manappuram Finance: BUY| Target Rs116 | Stop-loss Rs105| Return 7%
TV18 Broadcast: BUY| Target Rs72 | Stop-loss Rs65 | Return 7%
(Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.)
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