Business Standard

Volume IconMarket Ahead, Feb27: Geopolitical tensions, global cues to steer indices

Geopolitical tensions between India and Pakistan, movement of rupee against the US dollar, F&O expiry, macroeconomic numbers, crude oil prices and other global cues are likely to guide indices today.

ImageBS Web Team New Delhi
markets

markets

Geopolitical tensions between India and Pakistan, movement of rupee against the US dollar, F&O expiry, macroeconomic numbers, crude oil prices and other global cues are likely to guide markets on Wednesday. 

The government’s fiscal deficit at the end of January stood at Rs 7.7 trillion, or 21.5 per cent more than the revised target of Rs 6.34 trillion, showed the data released by the Controller General of Accounts (CGA) on Tuesday. 

Click here to connect with us on WhatsApp


STOCKS IN FOCUS

Allahabad Bank, Corporation Bank and Dhanlaxmi Bank: The Reserve Bank of India (RBI) on Tuesday removed three commercial banks – Allahabad, Corporation and Dhanlaxmi -- from the prompt corrective action (PCA) framework. This will allow them to carry on normal business, especially lending.

Bharti Airtel, Vodafone India: According to news reports, Airtel and Vodafone-Idea are likely to team up in the optical fibre space to fight Reliance Jio. 

Tata Steel: Tata Steel on Tuesday said its board has approved plans to raise Rs 4,000 crore through issuance of non-convertible debentures (NCDs) on a private placement basis. The company's board also approved a greenshoe option of Rs 1,000 crore.

Bank of Baroda: The bank has floated an expression (EoI) of interest to sell its non performing assets worth over Rs 5,928 crore, including its Rs 1,838 crore loan to cash-strapped Reliance Communications.

TRADE SET-UP

Asian shares were trading higher in the early trade on Wednesday after Federal Reserve Chairman Jerome Powell reinforced the US central bank’s recent shift towards a more “patient” approach on policy in the face of a slowing economy. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.1 per cent while Japan’s Nikkei share average gained 0.4 per cent. 

In the overnight trade, US stocks settled lower. In the commodity market, oil prices rose on OPEC-led supply cuts and a report of declining US crude inventories

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 27 2019 | 7:55 AM IST

Explore News