 "Markets to open higher after US Fed hikes interest rate")
Markets are likely to open higher after the US Federal Reserve on Wednesday raised interest rate by 25 basis points as widely expected, the first increase in nearly a decade, thereby ending the uncertainty which enveloped global sentiment.
At 8:40am, the early indicator SGX Nifty was up 28 points at 7,788
GLOBAL MARKETS
Japanese shares were the top gainers in the region following an uptick in the dollar. The benchmark Nikkei was up 2.2% while Shanghai Composite was up 1.5%. Further, Hang Seng was up 1.2% and Straits Times was up 0.2%.
Stocks on Wall Street rallied in overnight trades after the US Federal Reserve hiked interest rate on the back of improvement in the economy. Meanwhile, US housing starts rebounded after sluggishness in the past seven months. According to the US Commerce Department groundbreaking surged 10.5% to a seasonally adjusted annual rise of 1.17 million units in November while building permits shot up 11% to a 1.29 million-unit rate. The Dow Jones industrial average ended up 1.3% at 17,749, the Nasdaq ended up 1.5% at 5,071 and the S&P 500 gained 1.5% to close at 2,073.
STOCKS IN FOCUS
Nestle India will be in action after the Supreme Court on Wednesday stayed proceedings against the FMCG major, maker of the Maggi brand of instant noodles, in the National Consumer Disputes Redressal Commission (NCDRC).
Reliance Infrastructure may see some activity after it’s (RInfra) Rs 1,263-crore open offer for the acquisition of Pipavav Defence & Offshore Engineering Co (PDOC) was under-subscribed.
Suzlon may gains after Dilip Shanghvi- controlled entities, along with promoters of Suzlon, will make an open offer worth Rs 2,837 crore to acquire 26 per cent stake in the wind energy turbine maker.
Reliance Communications may firm up as the telecom major is likely to sign 2G intra-circle roaming agreements across five circles along with Vodafone.
Maruti Suzuki may gain after its minority shareholders appear to have given their approval to allow Suzuki to invest and run its third plant in Gujarat.
The Securities Appellate Tribunal (SAT) on Wednesday granted a second relief to Reliance Industries (RIL) this fortnight. It set aside a Securities and Exchange Board of India (Sebi) order penalising the company for Rs 13 crore.
AstraZeneca AB has filed a petition with the Controller of Patents requesting an in-person hearing before the Patent Office conclude the prima facie view in the Compulsory Licensing (CL) Application filed by Hyderabad-based Lee Pharma for diabetes mellitus drug Saxagliptin.
Tata Consultancy Services (TCS), India's largest IT services company on Wednesday announced signing a multi-year, multi-million dollar contract with German carrier Lufthansa.
At 8:40am, the early indicator SGX Nifty was up 28 points at 7,788
GLOBAL MARKETS
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Asian markets surged on Thursday after the interest rate hike announced by the US Federal Reserve even as the continued sluggishness in global crude oil prices weighed.
Japanese shares were the top gainers in the region following an uptick in the dollar. The benchmark Nikkei was up 2.2% while Shanghai Composite was up 1.5%. Further, Hang Seng was up 1.2% and Straits Times was up 0.2%.
Stocks on Wall Street rallied in overnight trades after the US Federal Reserve hiked interest rate on the back of improvement in the economy. Meanwhile, US housing starts rebounded after sluggishness in the past seven months. According to the US Commerce Department groundbreaking surged 10.5% to a seasonally adjusted annual rise of 1.17 million units in November while building permits shot up 11% to a 1.29 million-unit rate. The Dow Jones industrial average ended up 1.3% at 17,749, the Nasdaq ended up 1.5% at 5,071 and the S&P 500 gained 1.5% to close at 2,073.
STOCKS IN FOCUS
Nestle India will be in action after the Supreme Court on Wednesday stayed proceedings against the FMCG major, maker of the Maggi brand of instant noodles, in the National Consumer Disputes Redressal Commission (NCDRC).
Reliance Infrastructure may see some activity after it’s (RInfra) Rs 1,263-crore open offer for the acquisition of Pipavav Defence & Offshore Engineering Co (PDOC) was under-subscribed.
Suzlon may gains after Dilip Shanghvi- controlled entities, along with promoters of Suzlon, will make an open offer worth Rs 2,837 crore to acquire 26 per cent stake in the wind energy turbine maker.
Reliance Communications may firm up as the telecom major is likely to sign 2G intra-circle roaming agreements across five circles along with Vodafone.
Maruti Suzuki may gain after its minority shareholders appear to have given their approval to allow Suzuki to invest and run its third plant in Gujarat.
The Securities Appellate Tribunal (SAT) on Wednesday granted a second relief to Reliance Industries (RIL) this fortnight. It set aside a Securities and Exchange Board of India (Sebi) order penalising the company for Rs 13 crore.
AstraZeneca AB has filed a petition with the Controller of Patents requesting an in-person hearing before the Patent Office conclude the prima facie view in the Compulsory Licensing (CL) Application filed by Hyderabad-based Lee Pharma for diabetes mellitus drug Saxagliptin.
Tata Consultancy Services (TCS), India's largest IT services company on Wednesday announced signing a multi-year, multi-million dollar contract with German carrier Lufthansa.