Buzzing Stock Adani Enterprises rose 2.46% to Rs 156.05 on BSE after the company said its subsidiary signed a coal mining agreement with NLC India. On the BSE, 3.65 lakh shares were traded in the counter so far compared with average daily volumes of 9.35 lakh shares in the past two weeks Bharat Financial gains after assignment transaction Bharat Financial Inclusion rose 0.58% to Rs 1,080.95 on BSE after company said that it has completed direct assignment transaction of Rs 1391 crore. The announcement was made after market hours on Friday, 23 March 2018. READ MORE Market Check S&P BSE Sensex 32,932.82 1.03% Nifty 50 10,062.00 0.64% S&P BSE 200 4,408.43 0.83% Nifty 500 8,851.50 0.58% S&P BSE Mid-Cap 15,760.05 0.42% S&P BSE Small-Cap 16,858.34 0.34% Sebi plans new buyback rules, maximum limit likely to be capped at 25% Markets regulator Sebi is considering to come out with new norms on share buyback programme, under which maximum limit for share repurchase will be 25 per cent of the company's paid-up capital and other reserves. The company may buy back its shares and other securities from the existing security holders on a proportionate basis through the tender offer; open market via - book building process and stock exchange - and odd-lot holders, senior officials said. READ MORE Oil prices fall as U.S. trade dispute with China looms Brent and WTI crude oil futures dipped on Monday as concerns of a looming trade dispute between the United States and China weighed on global markets. In Asia, Shanghai crude oil futures debuted strongly in terms of volume as investors and commodity merchants bought into the world's newest financial oil trading instrument. READ MORE From valuations to recos: All you need to know about Lemon Tree Hotel IPO Lemon Tree Hotels, the last initial public offering of the financial year 2017-18 will open for subscription on March 26, 2018, and will stay open till March 28. The price band of the IPO has been kept at Rs 54-56 per share. Equity shares are proposed to be listed on the BSE and the National Stock Exchage (NSE). The global coordinators and book running lead managers to the issue are Kotak Mahindra Capital Company, CLSA India and JP Morgan India. The book running lead manager is YES Securities (India) Limited. READ MORE
The domestic indices trimmed morning lossses and were trading higher on Monday afternoon taking cues from from their key Asian counterparts.
Among sectoral indices, the Nifty PSU Bank index was trading over 3% higher led by a rise in the shares of Canara Bank, Bank of Baroda and State Bank of India.
In the week ahead, domestic investors will look forward to the fiscal deficit data to be released on Wednesday. Also, the expiry of the current month futures and options contracts are due on Wednesday and positions will be rolled over to next month.
In the global markets, US stock futures led global shares higher on Monday after reports that the United States and China have quietly started negotiations to improve US access to Chinese markets eased fears of a trade war between the two economic giants.
Japan’s Nikkei erased earlier losses of 1.3 per cent to end 0.7 per cent higher, while MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.4 per cent, flipping back to positive territory from a 0.5 per cent fall.
European shares ticked up on opening, with Germany’s Dax , France’s Cac and Britain’s FTSE all about 0.3 per cent higher.
According to media reports, US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer listed steps that Washington wants China to take in a letter to Liu He, a newly appointed vice premier who oversees China’s economy.
Signs of talk between the two economic giants allayed fear of an escalating trade war, sparked after US President Donald Trump moved to slap tariffs on Chinese goods, on top of import duties on steel and aluminium, prompting a defiant response from Beijing.
(with Reuters inputs)
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