 "Markets to see a flat opening on muted Asian cues")
Markets are likely to see a flat opening amid lacklustre Asian cues. Participants are likely to remain wary ahead of the fourth quarter results which commence next week with IT giant Infosys results due on April 15, Friday.
Meanwhile, minutes from the Fed's March 15-16 policy meeting suggest that the Federal Reserve remains apprehensive about an interest rate hike before June as fears of a global economic slowdown resurfaced.
Asian markets are trading cautiously post the release of the Fed minutes with Japan’s Nikkei, Hong Kong’s Hnag Seng and China’s Shanghai Composite down between 0.2%-1%.
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At 8:32 am, the early indicator SGX Nifty was down 0.15% to 7,622.
Overnight, the surge in crude oil lifted energy stocks higher with the Dow .DJI up 0.64% while the S&P 500 .SPX closing 1% higher and the Nasdaq soaring 1.6%.
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CORPORATE NEWS
Indian Oil Corporation (IOC) has decided to spend Rs 20,000 crore for brownfield expansion of its refinery near here.
After a steady increase in bad loans, India’s largest private sector lender ICICI Bank has decided to tighten its corporate lending growth and apply breaks on growing its corporate books.
Housing Development Finance Corp (HDFC) will make an additional one-time provision of Rs 450 crore in the quarter ended March after it made Rs 1,705 crore on the sale of shares in its life insurance company HDFC Standard Life Insurance
Tata Steel will begin the formal process to sell its UK units by Monday (April 11).
US drug maker Pfizer agreed to terminate its $160-billion agreement to acquire Botox maker Allergan, in a major victory to US President Barack Obama’s drive to stop tax-dodging corporate mergers.
Tata Motors is reducing the size of its diesel engines to skirt a temporary ban on the sale of large diesel-powered cars in New Delhi as the government seeks to reduce toxic smog in the capital city.
BHEL will be announcing its flash results for the year ended March 31, 2016 today.
Siemens India is likely to react after Siemens secured an order worth more than $800 million to supply a gas-fired power plant for Lordstown, Ohio.
Punjab National Bank is likely to gain after PNB Housing Finance raised Rs 500 crore by issuing bonds to World Bank arm IFC for funding its green residential projects.
The Cabinet on Wednesday cleared conversion of Bank of Baroda's Rs 29.91 crore loan to Andrew Yule & Co. Ltd (AYCL), which is engaged in production of bulk tea, into equity shares, paving the way for disinvestment of the Kolkata-based PSU.