 "Markets to see a strong opening as global stocks fly")
Markets to see a strong opening mirroring strength in global stocks shine as prospects of an interest rate hike by the Fed by the end of this year seems to wane on the back of sluggish US jobs data. Meanwhile, stability in the commodity market and rise in the oil prices have boosted the rally in the global markets.
GLOBAL MARKET
The prospect of a delay in the US Federal Reserve's interest rate hike amid stability in the oil prices and commodity markets lifted the Asian equities higher.
Japan's Nikkei rose 1.5% helped by speculation that the Bank of Japan might adopt stimulus to support the dwindling economy. The BOJ starts its two-day policy meeting on Tuesday. Meanwhile, Straits Times and Hang Seng are trading higher by 1.3% and 0.3%.
Equities on the Wall Street gained for a fifth straight day as prospects of an interest rate hike by the Fed by the end of this year seems to wane on the back of sluggish US jobs data.
STOCKS TO WATCH
Also Read
Sun Pharmaceutical announced its US subsidiary, Ranbaxy Pharmaceuticals, and other partners have entered into a pact, ending the patent litigation with drug maker Actavis over anti-acne drug Absorica (isotretinoin capsules).
Mortgage Lender, HDFC has slashed home loan rates by 25 basis points to 9.65%. The lender will offer an additional discount of five bps to women.
Maruti Suzuki’s premium diesel crossover S-Cross is being offered with incentives of up to Rs 1 lakh, indicating a challenge in the vehicle’s acceptability at the launch price of Rs 8.34 lakh to Rs 13.74 lakh.
Larsen & Toubro and HCC are among the lowest bidders for seven Mumbai Metro rail blocks. Mumbai Metro Rail Corporation (MMRC) has received 31 bids from nine consortiums to develop seven sections of the Colaba-Bandra-Seepz corridor.
Indian Overseas Bank (IOB) has informed stock exchanges that the RBI had initiated a "Prompt Corrective Action" on the lender to improve internal controls and consolidate its business activities.
Canara Bank reduced its lending rates by up to 0.25%, making home and auto loans cheaper. "
Bajaj Auto reported a 3.76% decline in total sales in September at 3,84,400 units as against 3,99,450 units in the same month last year.
Copthall Mauritius Investment offloaded 3.78 lakh shares worth over Rs 63.50 crore in Jubilant FoodWorks in an open market transaction.
In a major respite for steel producers, NMDC has reduced iron ore prices by 12% for October.
Bank of Braoda is likely to remian in focus after media reports stated that the bank is investigating a bill discounting fraud running into Rs 350 crore.
Bank of Braoda is likely to remian in focus after media reports stated that the bank is investigating a bill discounting fraud running into Rs 350 crore.