You are here: Home » Markets » News
Business Standard

Market Ahead, November 20: Top factors that could guide markets today

Shares of telecom stocks may remain in focus today as the merger of Bharti Infratel and Indus Towers to create a mega tower company has been completed

Topics
Market Ahead | Markets

BS Web Team  |  New Delhi 

The domestic equity market is expected to see a tepid start on Friday as indicated by SGX Nifty. At 07:25 AM, Nifty futures on the Singapore Exchange (SGX) were trading 17.95 points, or 0.14 per cent lower at 12,798.80. On Thursday, the benchmark Sensex closed at 43,600, down 580 points or 1.31 per cent, the sharpest fall since October 26 while Nifty50 fell 167 points, or 1.3 per cent, to end at 12,772 amid renewed fears of lockdowns.

In the overnight trade, US stocks ended in positive territory as fresh stimulus hopes buoyed investor sentiment toward the end of a session fraught with worries over mounting shutdowns and layoffs linked to spiraling Covid-19 infection rates.

However, global stocks came under pressure on Friday after US Treasury Secretary Steven Mnuchin called for an end to pandemic relief for struggling businesses, sparking a rare clash between the central bank and Treasury and weighing on sentiment.

Back home, shares of telecom stocks may remain in focus today as the merger of Bharti Infratel and Indus Towers to create a mega tower company has been completed, and Vodafone Idea has received Rs 3,760.1 crore cash for its 11.15 per cent holding in Indus.

Further, Reliance Industries on Thursday said it has completed the sale of about 10 per cent stake in its retail unit to a clutch of foreign investors for Rs 47,265 crore.

That apart, shares of Gland Pharma will list on bourses today. The retail and HNI portions of its IPO were subscribed just 51 per cent and 24 per cent and the Rs 6,480-crore IPO managed to sail through solely on the back of institutional investor demand.

In a separate development, market regulator Sebi has filed a petition with the Supreme Court asking it to direct embattled Sahara conglomerate chief Subrata Roy and two of his companies to deposit Rs 62,600 crore ($8.4 billion) that it said was due to its investors.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, November 20 2020. 07:51 IST
RECOMMENDED FOR YOU
.