Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 15 points at the opening bell. ACC will announce its Q1 results today, 21 April 2017. HDFC Bank unveils its Q4 results today, 21 April 2017.
Overseas, Asian stocks were trading higher after Bank of Japan’s (BOJ) Governor Haruhiko Kuroda maintained an accommodative monetary policy and on optimism for a US tax overhaul. US stocks closed higher yesterday, 20 April 2017 on rising expectations for first-quarter corporate profits.
Speaking a week before the BOJ monetary policy, Governor Haruhiko Kuroda said that the Bank of Japan will continue with very accommodative monetary policy and maintain the current pace of asset purchases for some time.While Japan’s economy is doing better than thought a few months ago, the inflation rate is still quite sluggish,
While Japan’s economy is doing better than thought a few months ago, the inflation rate is still quite sluggish,Kuroda said in New York yesterday, 20 April 2017.
Markets are awaiting several economic indicators from Europe later in the session, including Eurozone manufacturing and services figures for April and British retail sales for March, to be followed by US manufacturing and services data for April and existing home sales for March.
Back home, key benchmark indices settled with modest gains yesterday, 20 April 2017 after gyrating in a small range in the positive terrain throughout the day as largely positive global cues supported gains.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 168.84 crore yesterday, 20 April 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 8.82 crore yesterday, 20 April 2017, as per
Among corporate news, Reliance Industries (RIL) announced the successful and flawless commissioning of the second and final phase of Para-Xylene (PX) comprising of PX Crystallizers trains, Trans-alkylation and Aromatic Extraction units at Jamnagar. The announcement was made after market hours yesterday, 20 April 2017.
Tata Steel’s board at a meeting held yesterday, 20 April 2017, reviewed the performance, capital structure and financing plan of the company. Based on the review and pursuant to the existing shareholders approval, the board approved issue of debt securities of up to Rs 9000 crore in the form either of non-convertible debentures on private placement basis or foreign currency or rupee denominated bonds or a combination thereof in one or more tranches.
The funds will primarily be deployed towards re-financing the existing debt, capex/working capital requirements and general corporate purposes. The board of directors also authorized the finance committee of the board to determine and approve the timing and terms of such issue of securities. The announcement was made after market
hours yesterday, 20 April 2017.
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