BSE Sensex and Nifty 50 were staring at a negative start on Thursday, a day of weekly F&O expiry. Nifty futures were trading 72.50 points or 0.41 per cent down at 17,795 on Singaporean Exchange. In the previous session, the BSE Sensex declined 564 points, or 0.94 per cent, to end at 59,610 while the NSE Nifty 50 shut shop at 17,808, down 150 points or 0.83 per cent. Analysts say that the global developments have once taken center stage for the markets and the updates on Russia-Ukraine would remain on investors’ radar. On the domestic front, investors would keep a close watch on the RBI monetary policy meet the outcome on the 8 April. “We expect volatility to remain high, thanks to weekly expiry however we’re still seeing select pockets like power, fertilizers, and OMCs doing well so participants should align their positions accordingly. On the index front, we expect the Nifty to hold 17,700 levels,” Ajit Mishra, VP – Research, Religare Broking, said.
Stocks to watch
Uma Exports: Uma Exports, the trader of agricultural produce and commodities, will be listed on BSE and NSE today. The company successfully raised Rs 60 crore through its maiden public issue that was subscribed 7.67 times during March 28-30.
Zee Entertainment Enterprises: After fighting a bitter battle with Zee Entertainment Enterprises (Zee) for several months over board-level changes, Invesco Developing Market Funds has decided to sell up to 7.8% of its stake in the company via a block deal on Thursday. It will sell 7.74 crore shares, which is worth around Rs 2,200 crore.
Mahanagar Gas, Indraprastha Gas, Gujarat Gas: Mahanagar Gas (MGL), Indraprastha Gas (IGL), and Gujarat Gas have all hiked the price of compressed natural gas (CNG) on Wednesday following the doubling of domestic natural gas prices to $6.1 per million British thermal unit from April 1.
HDFC Bank: HDFC Bank on Wednesday said it will be seeking the approval from its board to raise capital worth Rs 50,000 crore through various instruments over the next 12 months.
Bharat Petroleum: India’s Bharat Petroleum Corp Ltd has bought 2 million barrels of Russian Urals for May loading from trader Trafigura, two sources familiar with the purchase said.
BSNL, TCS: BSNL has awarded a contract worth Rs 550 crore to Tata Consultancy Services (TCS) for setting up 6,000 4G sites across the country. Initially, the 4G sites will be set up at locations that have high revenue potential and where the infrastructure is 4G-ready, followed by a pan-India rollout later.
Future Retail: The Supreme Court on Wednesday directed Amazon and Future Retail (FRL) to approach the Singapore tribunal for restarting the arbitration proceedings over the e-commerce firm’s dispute with the Kishore Biyani company’s Rs 24,500-crore merger deal with Reliance Retail.
Titan Company: Titan company said jewellery business in Q4FY22 declined by 4 per cent YoY, despite the addition of 16 stores during the quarter.
