Stock market live updates on March 20: Wednesday morning could bring the much needed respite for Indian bourses as the benchmark indices will be tracking postive global cues. However, the Gift Nifty futures suggested a lukewarm start at 07:10 AM, the futures were up 27 points against the Nifty 50 futures at 21,913.
Markets in Asia-Pacific were mostly trading in green this morning, in the U.S. overnight, all three major indexes climbed as the Federal Reserve commenced its two-day policy meeting.
The Dow Jones Industrial Average surged 0.83 per cent, achieving its strongest performance since Feb. 22, while the S&P 500 reached a new record, rising 0.56 per cent to close at 5,178.51. The Nasdaq Composite also saw gains, climbing 0.39 per cent.
In Australia, the S&P/ASX 200 edged up 0.17 per cent, following the Reserve Bank of Australia’s decision to maintain rates at 4.35 per cent for the third consecutive meeting.
South Korea’s Kospi surged 1.12 per cent, driven by a 1.37 per cent rise in the shares of Samsung Electronics, while the small-cap Kosdaq saw a modest increase of 0.34 per cent.
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However, the Hang Seng index in Hong Kong declined by 0.51 per cent, while the mainland Chinese CSI 300 dropped by 0.72 per cent following the unchnaged loan rates decision by Chinese central bank.
Stocks in focus today:
UltraTech: UltraTech Cement has received approval from the Competition Commission of India for its acquisition of Kesoram Industries’ cement business.
Adani Enterprises: The company announced that its subsidiary, Adani Tradecom, has purchased a 49 per cent stake in Adani Green Technology from Adani Trading Services LLP, another entity within the Adani Group.
HDFC Bank: The bank has divested 14,01,72,180 equity shares of HDFC Credila to Kopvoorn BV, Moss Investments, Defati Investments Holding BV, and Infinity Partners.