Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 12 points at the opening bell.
Overseas, Asian stocks rose on Wednesday after upbeat earnings helped the Nasdaq and S&P 500 indexes reach record closing highs on Wall Street overnight, while oil retreated from its near six-month highs.
In US, the S&P 500 index and the Nasdaq registered record closing highs after a broadbased rally on Tuesday, as a clutch of better-than-expected earnings reports eased concerns about a slowdown. The Dow Jones Industrial Average rose 145.34 points, or 0.55%, to 26,656.39, the S&P 500 gained 25.71 points, or 0.88%, to 2,933.68 and the Nasdaq Composite added 105.56 points, or 1.32%, to 8,120.82.
Back home,key equity benchmarks settled lower yesterday, 23 April 2019 after witnessing some volatility in intraday trade. Mixed cues from global equity markets and firm crude oil prices put pressure on bourses. The Sensex fell 80.30 points or 0.21% to settle at 38,564.88. The Nifty 50 index fell 18.50 points or 0.16% to settle at 11,575.95.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 237.47 crore yesterday, 23 April 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 198.35 crore yesterday, 23 April 2019, as per provisional data.
Among corporate news,HDFC announced that the Reserve Bank of India (RBI) through its letter dated 22 April 2019 has granted its final approval to HDFC to acquire upto 9.9% of the paid-up voting equity capital of Bandhan Bank post proposed amalgamation of GRUH Finance with Bandhan Bank. The amalgamation scheme remains subject to approvals from the National Company Law Tribunal and the respective shareholders and creditors of GRUH Finance and Bandhan Bank. The announcement was made after market hours yesterday, 23 April 2019.
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On a consolidated basis, ACC's net profit rose 38.20% to Rs 345.99 crore on 8.23% increase in net sales to Rs 3,849.63 crore in Q1 March 2019 over Q1 March 2018. The result was announced after market hours yesterday, 23 April 2019.
Lupin said it has received a letter from the US Food and Drug Administration (USFDA) classifying the inspection conducted at its Pithampur (Indore) Unit-2 facility in January 2019 as Official Action Indicated (OAI). The USFDA has stated that this facility may be subject to regulatory or administrative action and that it may withhold approval of any pending applications or supplements in which this facility is listed. The company does not believe that this classification will have an impact on disruption of supplies or the existing revenues from operations of this facility. The company is in the process of sending further updates of its corrective actions to the USFDA and is hopeful of a positive outcome. The announcement was made after market hours yesterday, 23 April 2019.
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