This is Prachi Sharma, your market jockey, with the morning briefing to get you up and running for a busy day on Dalal Street.
A faltering rupee warranting RBI intervention is giving traders a hard time. But easing oil prices, firm Asian cues and Wall Street's positive close in overnight trade could lift the mood on Dalal Street.
That's the trade setup this morning.
Nifty futures in Singapore traded in the green early today signalling a positive start to Mumbai trading.
Asian stocks inched higher in early trade as markets braced for an announcement from Washington on the nuclear accord with Iran. Japan’s equities advanced as did stocks in Australia, Hong Kong and South Korea. Chinese shares were little changed as were the S&P 500 Index futures.
Wall Street climbed in overnight trade, boosted by Apple’s sixth straight day of gains even as oil prices surged to their highest levels since 2014. The Dow Jones Industrial Average rose 95 points to 24,357, the S&P 500 gained half a percent and the Nasdaq nearly one per cent
Oil prices pulled back this morning ahead of US President Donald Trump’s scheduled decision on Iran later today. Yields of 10-year US Treasuries hovered around 2.95 percent.
The dollar held steady after marking a fresh 2018 peak.
In March quarter earnings, ABB, Godrej Consumer Products, Blue Dart, HEG, Jubilant FoodWorks, Sanofi, Phoenix, Whirlpool and SPARC will report their numbers during the day.
ICICI Bank’s March quarter numbers were not too good as profit halved despite a windfall from its stake sale in its brokerage unit. Provisions more than doubled amidst a surge in missed repayments by borrowers.
US retail giant Walmart is set to spend about $15 billion to buy a stake of approximately 70% in Bengalore-based Flipkart in a deal that’s likely to be announced on Wednesday.
RBI and DIPP have not raised any objections to increasing foreign direct investment in Idea, taking its proposed merger with Vodafone India closer to realisation.
A US court has initiated an investigation into the alleged fraud involving jeweller Nirav Modi and Punjab National Bank and has appointed Alvarez & Marsal to conduct the inquiry.
That’s it for today. Thank you for listening in. Do log on to www.etmarkets.com for round-the-clock market coverage, lots of investment tips and dozens of stock recommendations from top brokerages.
Enjoy your trading day and make lots of money. Until tomorrow... good bye.
Source : https://economictimes.indiatimes.com/markets/stocks/news/etmarkets-morning-podcast-your-daily-digest-of-market-news/articleshow/64072904.cms