Market Ahead: Global cues, stock-specific action to guide market today

Concerns about world economic growth following weak economic data from both US and Europe are likely to weigh on investor sentiment on Friday. Back home, stock-specific action, crude oil prices and movement of rupee against the US dollar will also play a key role.

KEY STOCKS TO WATCH

ONGC, Oil India: The government has asked state-owned Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) to sell out 66 of their small oil and gas fields to private firms as it brought in a new policy to boost domestic production and cut imports.

Adani Group stocks: The Adani Group has made a formal offer to buy out 23.5 per cent held by two South African firms in Mumbai airport, according to a report by The Economic Times.

Reliance Capital, Reliance Nippon Life: Reliance Capital has invited Nippon Life to buy 43 per cent stake in its Rs 24-trillion domestic mutual fund (MF) industry.

Jet Airways: According to news reports, public sector banks State Bank of India (SBI) and Punjab National Bank (PNB) have agreed to provide Rs 500 crore emergency funding for the company. 

Adani Group stocks: The Adani Group has made a formal offer to buy out 23.5 per cent held by two South African firms in Mumbai airport, according to a report by The Economic Times.

Reliance Capital, Reliance Nippon Life: Reliance Capital has invited Nippon Life to buy 43 per cent stake in Reliance Nippon Life Asset Management, a prized asset operating in the Rs 24-trillion domestic mutual fund (MF) industry.

Jet Airways: According to news reports, public sector banks State Bank of India (SBI) and Punjab National Bank (PNB) have agreed to provide Rs 500 crore emergency funding for the company. 

TRADE SET-UP

Asian stocks were trading flat in the early trade following a fall on Wall Street, with a deteriorating global economic outlook outweighing more signs of progress in trade talks between China and the United States. 

In the overnight trade, the Dow Jones Industrial Average fell 0.4 per cent to 25,850.63, the S&P 500 lost 0.37 per cent to 2,774.28 and the Nasdaq Composite dropped 0.4 per cent to 7,459.06.

RBI takes close look at 'standstill agreements', plans to tighten norms

The Reserve Bank of India (RBI) has taken a serious view of the recent cases of ‘standstill agreements’ by companies with lenders to delay selling pledged shares.

RBI sources said the central bank was closely monitoring the situation and, if necessary, would tighten norms to dissuade lenders from entering into such agreements with companies.