Trends on SGX Nifty pointed to a negative open for domestic markets.
New Delhi: Domestic stock indices are likely to trade lower on Thursday based on signals from global markets. Asian equities fell, continuing a global slump after the minutes of the Federal Reserve meetings pointed to a faster-than-expected rise in US interest rates amid concerns about continued inflation. Concerns about higher US tariffs coupled with growing concerns about the rapid spread of the Omicron coronavirus variant to weigh riskier assets. Trends on SGX Nifty pointed to a negative open for the home markets. The Nifty Futures on the Singapore Exchange, also known as the SGX Nifty Futures, fell 135.45 points or 0.75 percent to 17,810.80.
The benchmark BSE Sensex was up 367 points, or 0.61 percent, to close at 60,223 Wednesday, while the broader NSE Nifty was up 120 points, or 0.67 percent, at 17,805.
Here are stocks to watch during today’s session:
dependency industries: RIL has raised $4 billion in a three-tranche US dollar bond issue, according to a term sheet accessed by new agency Reuters. The Indian conglomerate raised $1.5 billion in a 10-year tranche, $1.75 billion in a 30-year deal and $750 million in a 40-year deal.
Jet Airways: Months before the proposed relaunch, Sudhir Gaur, interim CEO of Jet Airways, resigned from his position. In his place, Priyapal Singh has been appointed as the carrier’s deputy manager. Mr. Gaur was also the vice president (operations) at Jet Airways.
Future Retail: The Delhi Supreme Court has suspended arbitration proceedings between Future Group and its estranged US partner Amazon.com in light of the Competition Commission of India’s (CCI) suspension of a 2019 deal between the two parties. Wednesday’s decision is a setback for US e-commerce giant Amazon, which had successfully used the terms of its 2019 investment in a Futures unit to block the Indian company’s attempt to sell retail assets to a rival.
airtel: Hughes Communications India (HCIPL), a majority subsidiary of Hughes Network Systems, and Bharti Airtel have announced a joint venture to provide satellite broadband services in India.
Mahanagar gas: Life Insurance Corporation of India (LIC) has acquired a 2 percent stake in the company through open market operations. As a result, the interest of LIC has increased from 5 percent previously to 7.01 percent.
