Gold Silver Reports (GSR) – Vakrangee Hits Upper Circuit After Hitting Lower Circuit In 28 Sessions – Shares of the Mumbai-based e-governance services provider were locked in five percent upper circuit at Rs 34.20 after hitting lower circuit in 28 sessions. Vakrangee had 13 lakh shares changed hands in a block deal on BSE.
Indian equity benchmarks were little changed in early trading as gains in ICICI Bank, Tata Motors and Sun Pharma were offset by losses in ONGC, HDFC Bank and ONGC.
The S&P BSE Sensex rose 0.2 percent or 75 points 35,396 and the NSE Nifty 50 index gained 0.15 percent or 16 points to 10,753.
Thirteen out of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Auto index’s 0.9 percent gain. On the other hand, the S&P BSE Utilities index was the top loser, down 0.7 percent.
The broader markets were trading on a muted note as both the S&P BSE MidCap and S&P BSE SmallCap indexes were little changed.
Money Market Heads Up: Rupee Seen Trading In Range Of 67.30-67.80/$
Growth accelerated to 7.7 percent in the fourth quarter, beating the median estimate. This makes India the fastest growing economy but for bonds, it means more pain.
Yield on the 10-year benchmark bond climbed 4 basis points to 7.83 percent in the last session. Traders are expecting the yield to stay in a range of 7.80-7.90 percent till the policy review.
In the currency market, implied opening from forwards suggest the pair could open at 67.39. Dollar is seen consolidating around the initial support of 67.2962 in the near-term as investors focus on next week’s RBI monetary policy announcement.
For today, the pair could stay in a range of 67.30-67.80 a dollar.
Stocks To Watch: Infosys, Ashiana Housing, Idea And More!
✅ Infosys extends alliance with Microsoft for cloud-based digital transformation solutions
✅ Idea Cellular completes sale of 9,900 standalone towers to ATC for Rs 4,000 crore
✅ Cochin Shipyard signs agreement with Kerala government for procurement of marine ambulances for fisheries department
✅ Maruti Suzuki targets to sell over 2 lakh automatic cars in FY19
Bayer Cropscience to invest Rs 400 crore in Monsanto India
✅ Fortis Healthcare says arm sold off 1.8 crore units of RHT Health Trust for 13.65 million Singapore dollars
✅ PNC Infratech declared lowest bidder for Nagpur-Mumbai expressway project worth Rs 2,100 crore
✅ Bodal Chemicals to acquire additional 17 percent stake in Trion Chemicals for Rs 3 crore
✅ Cholamandalam Investment & Finance to invest Rs 50 crore in its subsidiary Cholamandalam Home Finance
✅ Ashiana Housing has acquired 6.67 acres land in Rajasthan to develop a group housing project with 6.15 lakhs square feet area
