Sensex, Nifty Likely To Have A Gap-Up Opening
NDTV
Asian stocks were set to edge higher early on Thursday after big tech rallied on Wall Street and as President Joe Biden announced a multi-trillion-dollar infrastructure investment plan
The domestic stock markets are likely to open in the green, post the 1 per cent decline in the previous session, going by positive global cues. The Asian markets are poised to open firm and trends on SGX Nifty indicate a gap-up opening for the index in India, with a 114-points gain. At 7:30 am, the SGX Nifty futures were trading at 14,860, higher by 114 points or 0.95 per cent, on the Singapore Stock Exchange. Asian stocks were set to edge higher early on Thursday after big tech rallied on Wall Street and as President Joe Biden announced a multi-trillion-dollar infrastructure investment plan. Australian S&P/ASX 200 futures rose 0.28 per cent in early trading and Hong Kong's Hang Seng index futures rose 0.81 per cent. Japan's Nikkei 225 futures fell 0.10 per cent. The S&P 500 and Nasdaq rose on Wednesday, boosted by gains in technology shares, and the three major Wall Street indexes registered their fourth straight quarterly rise as investors positioned themselves for President Joe Biden's massive infrastructure plan.
Eight of the 13 major sectoral indexes declined, with the heavyweight IT index losing 0.77%. HCLTech, Wipro, Infosys were among the top Nifty 50 losers.
The data collection process has been going on for the last few days and is more of a precautionary exercise because the government "does not want to be caught off-guard" if the crisis spirals further, a banker said.
Rupee gains 22 paise against US dollar.
Global stock markets are in gradual recovery mode, having plunged last week on the collapse of two regional US banks and the enforced buyout of Credit Suisse by its Swiss rival UBS.
Mahindra and Mahindra Ltd plans to raise capital by selling shares in its unit, currently valued at over $9.1 billion, in multiple tranches over the next two fiscal years.
"We remain optimistic about India, whatever the odds," said the article on the state of the economy published in the March edition of the Reserve Bank bulletin.
Positive sentiments in the equity markets across the globe failed to address the concerns of investors who are awaiting the interest rate decision by the US Federal Reserve due on Wednesday.
Jayanti Chauhan is currently the vice chairperson at the company that her father promoted and built.
According to CAPA India's forecast for 2023-24, Indian airlines are estimated to have a net induction of 132 planes next fiscal and will take the total fleet of all carriers to around 816 aircraft.
European markets went back in the green on Monday after sliding earlier despite an emergency buyout of Credit Suisse aimed at preventing a fresh crisis for the global banking sector.
"Surprisingly and shockingly, the situation has turned the other way... Now we do not have enough airplanes to fly our passengers," Minister of Civil Aviation Shri Jyotiraditya Scindia told the CAPA India Aviation Summit.