Domestic equity benchmarks BSE Sensex and Nifty 50 were staring at a gap-up start on Thursday, a day of weekly F&O expiry. Nifty futures were trading 41 points or 0.25 per cent up at 16,658 on the Singaporean Exchange. In the previous session, S&P BSE Sensex managed to cut some intraday losses, but still closed 778 points or 1.38% in the red at 55,468 while NSE Nifty 50 ended 187 points or 1.12% lower at 16,605. “For the coming session, 16500 followed by 16400 are to be seen as immediate support. Going forward, it is advisable to keep a cautious view and to keep a close track of global developments,” Osho Krishan, Sr. Analyst – Technical & Derivative Research, Angel One, said. Asian peers were trading in green as oil prices continued to move higher with Brent crude oil topping $117 per barrel. Overnight on Wall Street, the Dow Jones Industrial Average surged 1.8%, the S&P 500 gained 1.86% while the Nasdaq Composite advanced 1.62%.
Stocks to watch
ONGC: Exxon Mobil Corp’s decision to exit Russia has put India’s flagship overseas firm ONGC Videsh in a fix as it is a partner in the global energy giant-operated Sakhalin-1 oil fields in Far East Russia, sources said.
Union Bank of India: Union Bank has raised Rs 1,500 crore by issuing Basel III compliant bonds to investors. The bank has allotted unsecured, subordinated, non-convertible, taxable, perpetual, fully paid-up Basel III compliant additional tier-I bonds in the nature of debentures, aggregating to Rs 1,500 crore.
Vedanta: Billionaire Anil Agarwal’s Vedanta Ltd will pay a dividend to investors for the third time this financial year as a rally in commodity prices boosts its earnings. Vedanta will pay the third interim dividend of Rs 13 per equity share or 1,300 per cent for the fiscal year 2021-22, the company said in a stock exchange filing.
Maruti Suzuki: The company had sold 1,64,469 units in February 2021. Last month, the company’s domestic sales slipped 8.46 per cent to 1,40,035 units as against 1,52,983 units in February 2021. “The shortage of electronic components had a minor impact on the production of vehicles which are primarily sold in the domestic market. The company took all possible measures to minimise the impact,” MSI had said.
HCL Technologies: HCL Technologies has announced the opening of a center of excellence (CoE) with IBM. This CoE will help CSPs (communication service providers) modernize their network infrastructure, transform service delivery and simplify operations.
Infosys: Infosys announced that its flagship digital reskilling program, Infosys Springboard, continues to expand its reach to learners across India by growing its thriving community to over 1.2 million users, since its launch.
