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Market opening - An Overview
Nifty futures on the Singapore Exchange traded 71.50 points, or 0.48 per cent, higher at 14,868.50, signaling that Dalal Street was headed for a positive start on Friday.
US stocks finished higher on Thursday, after the Labor Department reported fewer new claims for unemployment benefits last week. The Dow Jones Industrial Average index pushed to a new high of 34,548.53 by the close, a gain of 0.9 per cent. The broad-based S&P500 index rose 0.8 per cent to end the day at 4,201.62, while the tech-rich Nasdaq Composite index gained 0.4 per cent to 13,632.84.
The Indian rupee strengthened by 13 paise to settle at 73.78 against the US dollar on Thursday, tracking positive domestic equities and weaker American currency against key rivals overseas.
Shares in News today:
Raymond: Said it has sold 3,72,285 units last month, down by 35 per cent from 5,76,957 units dispatched in March this year.
NLC India: The Electric Utilities firm said it has raised Rs 650 crore by issuing commercial paper. “We wish to inform that 13,000 nos of commercial paper of a face value of Rs 5,00,000 each, aggregating to Rs 650 crore have been issued and allotted on May 5, 2021,” the company said.
CEAT: The tyre maker said that the cost pressure is an area of concern with raw material prices going up over the last six months, and there is a need for hiking rates of products by 5-6 per cent to offset the impact.
Praj Industries: Industrial biotechnology company reported a consolidated profit after tax (PAT) of Rs 52 crore for the quarter ended March 2021. The company’s PAT stood at Rs 24.86 crore in the year-ago period.
IFL Finance: The non-banking financial company reported a multifold jump in its consolidated net profit at Rs 248 crore in the last quarter of the fiscal ended March 2021 on healthy revenues from operations such as interest income. It had posted a net profit of Rs 59 crore in the corresponding quarter of the previous financial year 2019-20.