 "Gap-up opening expected as Fed leaves key rates unchanged")
Markets are expected to open the session on a higher after US central bank, as expected, kept the interest rates unchanged. The US central Bank trimmed forecasts for hike in short-term rates planned for this year.
Rise in the oil prices and strength in the global equities is likely to lift the mood on the street.
ALSO READ: US Fed keeps interest rates steady
GLOBAL MARKET
Asian shares have surged in today’s trade following the US Federal Reserve stance where the central bank left the interest rates unchanged. Also, the US central Bank trimmed forecasts for hike in short-term rates planned for this year.
Asian equities followed a firm finish on the Wall Street, where the S&P 500 closed at its highest level this year following the U.S. central bank's dovish stance. The Hang Seng was up 1%, Japan's Nikkei was up 1.4% and China's Shanghai Composite was trading flat. The arly indicator SGX Nifty is up 1%.
STOCKS IN FOCUS
Select pharma majors bare going to remain in focus. Five healthcare majors including Procter and Gamble, Glenmark and Reckitt Benckiser on Wednesday got interim relief from the Delhi high court, which stayed till March 21 the ban imposed by the government on sale of some of their fixed dose combination (FDC) medicines.
Indian Oil Corp, Oil India and Bharat Petroleum signed an agreement to buy stakes in Russia's Taas-Yuriakh oil field in East Siberia for about $1.3 billion (about Rs 8,750 crore).
TVS Motors has entered into a partnership with Snapdeal to sell the company's motorcycles and scooters online on the e-commerce platform. The company said nine two-wheeler products from TVS Motor Company will be available on Snapdeal.
SBI could see some pressure after global ratings agency Moody’s said State Bank of India (SBI)’s profitability metrics could face lingering pressure as it spends the next six-eight quarters for rebuilding its balance sheet buffers.
Blackstone has emerged the strongest contender to acquire IT services firm Mphasis from Hewlett Packard Enterprise in a deal that could be worth over $1 billion, according to media reports.
Bombay High Court order on Wednesday forestalled implementation of Alok Industries' resolution for its lenders to convert loans into controlling equity until a winding-up petition by HSBC is worked out.
ONGC Videsh Ltd (OVL) and a consortium led by Indian Oil Corp signed agreements to buy stake in two Russian oilfields in Siberia for an estimated USD 4.2 billion (over Rs 28,253 crore).
Tata Motors is likely to stay in limelight as the company plans to supply 25 hybrid electric buses to the Mumbai Metropolitan Region Development Authority (MMRDA).
