Indian share market place benchmarks BSE Sensex and Nifty 50 have been set to open in positive territory on Thursday, a day of weekly F&O expiry, following a one-day blip. Market participants will focus on weekly F&O expiry, oil rates, rupee’s trajectory, stock-particular action, and the ongoing RBI policy meet. Asian stock markets have been trading powerful on Thursday, with Hong Kong’s Hang Seng major the gains. While mainland China stock markets stay closed on Thursday for the holidays. Analysts say even if the worldwide markets show some recovery, Nifty could immediately after a modest recovery once again run into profit-taking.
SGX Nifty in green: Nifty futures have been trading 134.50 points or .76 per cent up at 17763 in early trade on Thursday.
Global watch: Asian stocks markets have been seen trading with powerful gains on Thursday. Japan’s Nikkei rose 1.43 per cent though the Topix index climbed .66 per cent. South Korea’s Kospi sophisticated 1.09 per cent. In overnight trade on Wall Street, the Dow Jones Industrial Average rose .3 per cent, the S&P 500 gained .41 per cent and the Nasdaq Composite added .47 per cent.
FII and DII activity: On Wednesday, foreign institutional investors (FIIs) offloaded shares worth Rs 802.81 crore, though domestic institutional investors (DIIs) sold shares worth Rs 998.69 crore on a net basis in the Indian stock market place.
Moody’s raises rating outlook to steady for Indian organizations, banks: Moody’s Investors Service on Wednesday raised the rating outlook for 18 Indian corporates and banks, like Reliance Industries, Infosys, SBI and Axis Bank, to ‘stable’ from ‘negative’. This follows the upgrade by the US-based rating agency in India’s sovereign rating outlook to ‘stable’ from ‘negative’ on Tuesday. The agency had affirmed the sovereign rating at ‘Baa3’.
LIC IPO: The government could not be necessary to amend any legislation to permit foreign participation in the proposed initial share sale of insurance coverage giant Life Insurance Corporation of India (LIC), sources mentioned. Foreign participation would be permitted as per the listing norms of the Securities and Exchange Board of India (SEBI) and the extant sectoral FDI recommendations, they added