STOCKS IN NEWS:
Bharti Airtel Ltd: Country's largest telecom operator Bharti Airtel said one of its promoter group entity Bharti Telecom has bought 57.14 lakh shares of the company for Rs 171.92 crore through various market transactions.
ICICI Bank Ltd: Country's largest private sector lender ICICI Bank has hit the Australian debt market for the first time with a $ 138.2-million in five-year money as part of its $ 5-billion medium-term notes programme.
ICICI Bank Ltd: Country's largest private sector lender ICICI Bank has hit the Australian debt market for the first time with a $ 138.2-million in five-year money as part of its $ 5-billion medium-term notes programme.
RIL Ltd: Reliance Industries will continue to sell natural gas from its eastern offshore KG-D6 fields at the current rate until the next government decides on a revision in prices.
Tata Power Ltd: Tata Power Delhi Distribution Ltd has sought compensation from the Indian arm of Chinese power producer CLP Holdings for wrongly announcing the commissioning of its 1,320 mw Jhajjar Power project for which it had to unnecessarily pay Rs 33 crore as transmission charge.
Sesa Sterlite Ltd: Sesa Sterlite's Executive Director (Iron Ore Business) Prasun Kumar Mukherjee has quit the company, making the first high profile exit from the Vedanta group since its restructuring in August last year
Tata Chemicals Ltd: Tata Chemicals will not participate in an ammonia-urea project being set by a JV between Olam International and the Gabon government in the African country.
Bosch Ltd: After facing a tools-down strike by the employees of its Bangalore plant last year, auto component maker Bosch now faces another agitation from its Nashik plant union, said media reports.
ABG Shipyard Ltd: A group of 22 banks led by State Bank of India has cleared the recast of Rs.10,000 crore in loans advanced to ABG Shipyard Ltd, under the corporate debt restructuring (CDR) process for bailing out financially stressed borrowers, offering India's largest private shipbuilder a breather, said media reports.
Jain Irrigations Ltd: Micro irrigation company Jain Irrigation Systems is looking to sell a stake in its food-processing business to private equity funds to raise up to Rs 610 crore as it seeks to cut debt and boost growth.
Adani Power Ltd: Electricity regulator CERC's move to allow compensatory tariff for two Mundra projects of Tata Power and Adani Power has been challenged before Appellate Tribunal for Electricity (APTEL) by an NGO, which alleges that the move would give "undue benefits" to the utilities.
Sesa Sterlite Ltd: Sesa Sterlite's Executive Director (Iron Ore Business) Prasun Kumar Mukherjee has quit the company, making the first high profile exit from the Vedanta group since its restructuring in August last year
Tata Chemicals Ltd: Tata Chemicals will not participate in an ammonia-urea project being set by a JV between Olam International and the Gabon government in the African country.
Bosch Ltd: After facing a tools-down strike by the employees of its Bangalore plant last year, auto component maker Bosch now faces another agitation from its Nashik plant union, said media reports.
ABG Shipyard Ltd: A group of 22 banks led by State Bank of India has cleared the recast of Rs.10,000 crore in loans advanced to ABG Shipyard Ltd, under the corporate debt restructuring (CDR) process for bailing out financially stressed borrowers, offering India's largest private shipbuilder a breather, said media reports.
Jain Irrigations Ltd: Micro irrigation company Jain Irrigation Systems is looking to sell a stake in its food-processing business to private equity funds to raise up to Rs 610 crore as it seeks to cut debt and boost growth.
Adani Power Ltd: Electricity regulator CERC's move to allow compensatory tariff for two Mundra projects of Tata Power and Adani Power has been challenged before Appellate Tribunal for Electricity (APTEL) by an NGO, which alleges that the move would give "undue benefits" to the utilities.
NIFTY NEWS:
Indian markets are expected to trade in a range on Monday following positive trend seen in other Asian markets. The key support for the index is around 6,639 levels.
"The Nifty is expected to trend up till 6740 in the next couple of days. In this period the key support will be at 6639 and resistance will be at 6740," said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.
"The Nifty has been forming higher tops and higher bottoms; it has also closed above the previous swing's high which is a positive sign for the market. The short-term bias for the index remains positive for a target of 6770 with reversal at 6470," he added.
Mehta is of the view that the medium-term outlook remains positive as the index has started forming higher tops and higher bottoms on the weekly chart and the momentum indicator has given a positive cross-over
"The Nifty is expected to trend up till 6740 in the next couple of days. In this period the key support will be at 6639 and resistance will be at 6740," said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.
"The Nifty has been forming higher tops and higher bottoms; it has also closed above the previous swing's high which is a positive sign for the market. The short-term bias for the index remains positive for a target of 6770 with reversal at 6470," he added.
Mehta is of the view that the medium-term outlook remains positive as the index has started forming higher tops and higher bottoms on the weekly chart and the momentum indicator has given a positive cross-over
Pre-market: Nifty seen opening higher; may hit 6750 levels
The 50-share Nifty index is expected to open higher on Monday following positive trend seen in other Asian markets. Tracking the momentum, the index is expected to make fresh record high and hit its next crucial psychological level of 6,750.At 07:30 a.m., Nifty India stock futures in Singapore were trading 31 point higher at 6770.50, indicating a higher opening on the domestic market.
The benchmark indices scaled to new life-time high, after two weeks of prolong consolidation. Among the benchmarks, the Nifty touched psychological mark of 6700 and gained more than 3 per cent on weekly basis.
The April F&O series began on a positive note for markets. The Nifty kept investors on tenterhooks during last 30 minutes of today's trading session, flirting with the 6,700 level. It did cross the 6,700 mark for a few ticks before settling just a few points below the same.
The Nifty edged higher for yet another session and concluded at 6695 gaining 54 Points in value. "Though the index appears overbought the underlying momentum is still strong and may take the Nifty higher till 6713 and beyond that 6770 is the next resistance and upside target to watch out for," GEPL Capital said in a report.
"As long as 6600 is held as a support, the upside would continue to remain intact. Only a breach of 6600 would signal a possibility of a pause and further correction," added the report.
In the coming week, the Reserve Bank of India will hold its Monetary Policy Statement on Tuesday, April 01, 2014, will dictate near term trend on the bourses.
Trend in investment by foreign institutional investors (FIIs), trend in global markets, trend in other global emerging markets, the movement of rupee against the dollar and crude oil price movement hold key on bourses.
"We have some of the major events and data lined up in the coming week and their outcome would play the decisive role in the market movement ahead," Jayant Manglik, President-retail distribution, Religare Securities Ltd.
"To start with, Balance of payment data is scheduled on first trading session i.e. 31st March. But, the most crucial is the RBI's monetary policy review, wherein its chief Dr. Raghuram Rajan manages to surprise the market," he added.
Markit Economics will unveil HSBC India Manufacturing PMI, which gauges the business activity of India's factories, for March 2014 on Tuesday, April 01.
On Friday, U.S. stocks pared gains after a late sell-off in biotechnology shares, while euro zone government bond yields fell on renewed bets the European Central Bank will ease policy next week.
"The price of Brent crude oil closed above $108 a barrel for its first weekly rise in five, helped by data showing a rise in U.S. consumer spending in February," Reuters reported.
"U.S. consumer spending rose 0.3 percent in February, the Commerce Department said, after gaining 0.2 percent in January. The gain matched economists' expectations," added the report.
At the close, the Dow Jones industrial average was up 58.83 points, or 0.36 percent, at 16,323.06. The Standard & Poor's 500 Index rose 8.56 points, or 0.46 percent, to 1,857.60. The Nasdaq Composite Index finished up 4.53 points, or 0.11 percent, at 4,155.76.
Asian markets edge higher tracking gains on Wall Street with investors holding out hopes that China would take steps to stimulate the economy.
Markit Economics will unveil HSBC India Manufacturing PMI, which gauges the business activity of India's factories, for March 2014 on Tuesday, April 01.
On Friday, U.S. stocks pared gains after a late sell-off in biotechnology shares, while euro zone government bond yields fell on renewed bets the European Central Bank will ease policy next week.
"The price of Brent crude oil closed above $108 a barrel for its first weekly rise in five, helped by data showing a rise in U.S. consumer spending in February," Reuters reported.
"U.S. consumer spending rose 0.3 percent in February, the Commerce Department said, after gaining 0.2 percent in January. The gain matched economists' expectations," added the report.
At the close, the Dow Jones industrial average was up 58.83 points, or 0.36 percent, at 16,323.06. The Standard & Poor's 500 Index rose 8.56 points, or 0.46 percent, to 1,857.60. The Nasdaq Composite Index finished up 4.53 points, or 0.11 percent, at 4,155.76.
Asian markets edge higher tracking gains on Wall Street with investors holding out hopes that China would take steps to stimulate the economy.
"China's Premier Li Keqiang on Friday sought to reassure jittery global investors that Beijing was ready to support the cooling economy, saying the government had the necessary policies in place and would push ahead with infrastructure investment," added the Reuters report.
Japan's Nikkei 225 index was trading 0.38 per cent higher at 14,758.50 and Hong Kong's Hang Seng index was trading 0.05 per cent higher at 22,071.12.
South Korea's Kospi index was trading 0.02 per cent higher at 1,981. China's Shanghai index was trading 0.20 per cent lower at 2,036.
Japan's Nikkei 225 index was trading 0.38 per cent higher at 14,758.50 and Hong Kong's Hang Seng index was trading 0.05 per cent higher at 22,071.12.
South Korea's Kospi index was trading 0.02 per cent higher at 1,981. China's Shanghai index was trading 0.20 per cent lower at 2,036.
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