Domestic stocks are likely to open on a firm note as trading resumes after a long weekend. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 72 points at the opening bell. Stock specific action will be witnessed on account of rejig in the Nifty 50 index.
Overseas, Asian shares were trading higher. US stocks rose on Thursday, 29 March 2018 with tech shares leading the way, as equity markets ended a tumultuous quarter on a high note. Many major financial centers were closed for the Good Friday Easter holiday
Back home,the stock market closed the volatile session on Wednesday, 28 March 2018 with modest losses amid weak global cues. The Sensex fell 205.71 points or 0.62% to settle at 32,968.68, its lowest closing level since 23 March 2018.
The stock market had remained shut on Thursday, 29 March 2018 for Mahavir Jayanti and also on Friday, 30 March 2018 on the eve of Good Friday.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1190.55 crore on Wednesday, 28 March 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1960.67 crore on Wednesday, 28 March 2018, as per provisional data.
Among corporate news,stock specific action will be witnessed on account of rejig in the Nifty 50 index. Bajaj Finserv, Grasim Industries and Titan Company will replace Ambuja Cements, Aurobindo Pharma and Bosch in the Nifty 50 index today, 2 April 2018.
Maruti Suzuki India said that its total sales rose 14.9% to 1.60 lakh units in March 2018 over March 2017. The announcement was made on Sunday, 1 April 2018.
More From This Section
Tata Motors registered a growth of 35% at 69,440 units in March 2018 as against 51,309 units in March 2017 due to the continued strong sales performance of its commercial and passenger vehicles business in the domestic market. The announcement was made on Sunday, 1 April 2018.
Coal India announced the provisional production and offtake figures of the company and its subsidiaries in March 2018. The company achieved 105% of the targeted coal production at 72.28 million tonnes in March 2018. Actual offtake was 95% of the targeted offtake at 55.19 million tonnes in March 2018. The announcement was made on Sunday, 1 April 2018.
ICICI Bank will be in focus. Media reports alleged that the bank sanctioned Rs 3250 crore of loans to Videocon Group because its chairman Venugopal Dhoot supposedly had dealings with NuPower Renewables, founded by ICICI Bank's MD & CEO Chanda Kochhar's husband Deepak Kochhar.
ICICI Bank clarified to the bourses after market hours on 28 March 2018 that its board reviewed the bank's internal processes for credit approval and found them robust. The board also expressed and reposed full faith and confidence in its MD & CEO, Chanda Kochhar.
In a separate announcement on 29 March 2018, ICICI Bank said that the Reserve Bank of India (RBI) imposed through an order dated 26 March 2018, a monetary penalty of Rs 58.90 crore on ICICI Bank for non-compliance with directions issued by RBI on direct sale of securities from its Held To Maturity (HTM) portfolio and specified disclosure in this regard.
ICICI Bank clarified that RBI has imposed a penalty on the bank for continued sale of government securities classified as HTM. ICICI Bank continued with the sales from HTM category for a few weeks during the quarter ended 31 March 2017, due to a genuine misunderstanding on the timing of the applicability of RBI's direction in this matter.
Powered by Capital Market - Live News