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Stocks may open lower

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Trading of index futures on the stock exchange indicates that the Nifty could fall 32 points at the opening bell.

Overseas, Asian stocks declined following an overnight slide in US equities after a fresh personnel shakeup in the spurred concerns about a unilateral approach to trade, national security and foreign affairs.

US equities fell in choppy trade yesterday, 13 March 2018 after tech shares pulled back amid concerns trade tensions between the US and could increase. The sudden firing of US took some by surprise less than a week after top resigned from the US has nominated CIA Mike Pompeo, an ex-who has endorsed pushing back against the Chinese threat, to replace Tillerson.

Back home,a divergent trend was witnessed yesterday, 13 March 2018 as the barometer index, the BSE Sensex, settled with small losses while the index registered minor gains. The Sensex fell 61.16 points or 0.18% to settle at 33,856.78. The index rose 5.45 points or 0.05% to settle at 10,426.85.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 7028.42 crore yesterday, 13 March 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1613.39 crore yesterday, 13 March 2018, as per provisional data.

Among corporate news,IT major will be in spotlight. sold 3.12 crore shares, or 1.63% equity, of in two separate bulk deals on NSE yesterday, 13 March 2018. offloaded 2.05 crore shares at Rs 2,876.46 each. Another 1.06 crore shares were sold at Rs 2,872.19 each. As on 31 December 2017, held 73.52% stake in

Bharat Financial Inclusion (BFIL) and will be watched. The (RBI) has, vide its letter dated 13 March 2018, conveyed its 'no objection' for the voluntary amalgamation of with IndusInd Bank, subject to compliance with the terms and conditions specified therein. The announcement was made after market hours yesterday, 13 March 2018.

The approval of the merger by the board of directors of was intimated to the stock exchanges on 14 October 2017. The amalgamation received the approval of the on 19 December 2017.

The proposed merger still requires approval from the stock exchanges/(SEBI), the National Company Law Tribunal, the respective shareholders and creditors of and and other applicable statutory and regulatory approvals.

(PNB) will be watched. With respect to news titled, "to Special Court: Fraud amount by Gitanjali group companies increases by Rs.942.18 crs; Total amount of fraud in PNB case now stands at over Rs.13,600 crs; also adds Section 409(IPC), Criminal breach of trust in FIR," PNB issued a clarification after market hours yesterday, 13 March 2018.

PNB clarified that the amount of Rs 942 crore were the regular limits sanctioned to under consortium lending, and were standard credit exposure at the time of detection of the fraud. Now, this exposure is being added to the existing fraudulent amount. This amount has nothing to do with any new fraudulent letters of undertakings (LoUs)/letters of comfort (LoCs).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 14 2018. 08:28 IST