Indian stock markets are likely to open higher on Wednesday following a rally in the US stock markets with Dow Industrials gaining as much as 429 points. The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, up 0.07% at 10,433 on the Singapore Exchange on Wednesday.
These Stocks Today Will Be In Focus
: Fitch Ratings on Tuesday downgraded the Viability Rating of Punjab National Bank (PNB) to ‘bb-‘ from ‘bb’ and has maintained the rating on Rating Watch Negative (RWN).
Shares of Axis Bank emerged as the top gainers among the blue-chip components of Sensex and Nifty on Tuesday after Shikha Sharma called for an early exit from the post of MD and CEO of Axis Bank. The stock of Axis Bank rose as high as 6.1% to over a one-month peak of Rs 549.5 before closing up 5.43% at Rs 546 on BSE.
Fortis Healthcare: Manipal Health Enterprises raised its offer for Fortis Healthcare Ltd by valuing the hospital business higher at Rs 6,061 crore.
HFCL: HFCL has received advance purchase order worth Rs 579 crore from state-run firm BSNL for building 2G network in Assam.
AU Small Finance Bank: AU Small Finance Bank announced an increase in interest rates on its savings account deposits to up to 6.75%.
The Indian Rupee On Tuesday
The Indian rupee ended marginally higher below 65-level against the US dollar on Tuesday after rising as much as 14 paise during the day as crude oil breached the $70 per barrel mark in the evening counters yesterday. The rupee gained 3 paise to end at 64.99 against the US dollar at the interbank foreign exchange market on Tuesday. During the day, the rupee shuttled between 64.88 and 65.3 against the US currency. The Reserve Bank of India has fixed a reference rate of the rupee at 64.9368 against the US dollar on Tuesday.
Indian Stock Markets On Tuesday
Indian stock markets extended gains for the fourth consecutive day finishing on a positive note on Tuesday with Sensex and Nifty ending up marginally higher as trade-war fears between US and China seemed to have diminished followed by an uptick in the US stock markets. The investors’ sentiments were also upbeat on the back of better corporate earnings with India’s second-largest IT company Infosys all set to announce the financial results for the quarter and year ended 31 March 2018 on 13 April 2018. BSE Sensex added 91.71 points or 0.27% to close at 33,880.25 whereas NSE Nifty gathered 22.9 points or 0.22% to settle at 10,402.25 on Tuesday. In the intraday dealings on Tuesday, the benchmark Sensex shuttled between a high of 33,949.98 and a low of 33,813.3.