Indian economy strong rebound from the COVID-19 blues with 20.1 per cent GDP growth in Q1 of FY22 is going to set the market spirit of the markets bit higher today. Taking mixed global cues and factoring in the strong bounce back of Indian economy, the markets are set to march upwards even on Wednesday. At 7.15, the Nifty Futures on the Singaporean Exchange was up 24.50 points, or 0.14 per cent signaling a good and a positive start for the Indian markets. However, Asian equity markets showed a tepid start on Wednesday. Hong Kong stocks started on a tepid note following a recent run of gains. The Hang Seng Index edged down 7.17 points to 25,871.82. The Shanghai Composite was also barely moved, inching down 0.07 points to 3,543.87, while the Shenzhen Composite Index on China’s second exchange added 0.08 percent, or 1.86 points, to 2,431.72.Tokyo shares opened higher,the benchmark Nikkei 225 index firmed 0.40 percent, or 111.13 points, to 28,200.67 in early trade, while the broader Topix index rose 0.42 percent, or 8.29 points, to 1,968.99. Howevet, the key benchmark indices finished marginally lower on Tuesday, The Dow Jones Industrial Average fell 39.11 points, or 0.11 per cent, to 35,360.73, the S&P 500 lost 6.11 points, or 0.13 per cent, to 4,522.68 and the Nasdaq Composite dropped 6.66 points, or 0.04 per cent, to 15,259.24.
The Indian markets on Tuesday scaled new heights.The Benchmark BSE Sensex and the broader market Nifty50 rose to the record high levels for the second consecutive day. The rise in the indices is due to a sharp rally in IT, power, healthcare and metal stocks. At close, the Sensex was at 57,552.39, up 662.63 points or up 1.16 per cent, and the Nifty was up 201.20 points or 1.19 per cent at 17,132.20. About 1434 shares have advanced, 1537 shares declined, and 105 shares are unchanged.
Here are some stock that would in focus today:
Tata Motors: The company announced on Tuesday that it is launching Tigor EV with price starting at Rs 11.99 lakh
L&T: L&T concludes divestment of entire stake in 99 MW hydro plant at Uttarakhand to ReNew Power.
Kotak Bank: The bank announced yesterday that it is going to sell 20 cr shares of Airtel Payments Bank to Bharti Enterprises for Rs 294 cr
Wipro: The company and HERE Technologies partnered to provide location-based services and analytics for customers globally.
Mastek: The company partnered with fulfillmenttools to deliver modern omnichannel fulfillment solutions to customers worldwide.
JB Chemicals and Pharmaceuticals: Vijay Bhatt has resigned from the services of the company and shall cease to be the Chief Financial Officer of the company.
Shoppers Stop: The company exited non-core business by selling its subsidiary, Crossword Bookstores, at a gross business valuation of Rs 41.62 crore and will focus on expanding core business and strategic growth pillars – First Citizen, Private Labels, Beauty and Omnlchannel business.
Likhitha Infrastructure: The company has received an order worth Rs 145.86 crore from Indradhanush Gas Grid (IGGL) for laying and construction of steel gas pipeline and terminals along with associated facilities for section 5 & 9 of North-East Gas Grid (NEGG) Project.
Stocks to be added in F&O: Abbott India, Crompton Greaves Consumer Electricals, Dalmia Bharat, Delta Corp, The India Cements, JK Cement, Oberoi Realty, and Persistent Systems will be available for trading from October 1.
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