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Market opening - An Overview
Nifty futures on the Singapore Exchange traded 205 points, or 1.37 per cent, lower at 14,783.50, signaling that Dalal Street was headed for a gap-down start on Tuesday.
In overnight trade, US stocks fell from a record high, as worries about accelerating inflation dragged on shares and hobbled the dollar that struggled at a 10-week low. The S&P 500 index plunged 44.17 points, or 1.04 per cent, to 4,188.43. The Dow Jones Industrial Average retreated 34.94 points or 0.10 per cent to 34,742.82, while the tech-heavy Nasdaq dived 350.38 points or 2.55 per cent to 13,401.86.
The rupee rose by 16 paise to close at more than one-month high of 73.35 against the US dollar, marking its third straight session of gains on the back of positive domestic equities and weak American currency.
Shares in News today:
Punjab National Bank: The bank said its board has approved raising equity capital from qualified institutional investors to enhance its capital base. For the Qualified Institutional Placement (QIP) purposes, the bank has fixed the floor price at Rs 35.51 per equity share
Coforge : Axis Mutual Fund through its Axis Long Term Equity Fund acquired 6,17,284 equity shares in Coforge at Rs 3,240, whereas promoter HULST B V sold 19 lakh equity shares in the company at Rs 3,242.26 per share on the NSE, the bulk deals data showed.
HFCL : The company reported higher consolidated profit at Rs 84.67 crore in Q4FY21 against Rs 5.78 crore in Q4FY20, revenue rose to Rs 1,391.4 crore from Rs 663.19 crore YoY.
HSIL : The company reported profit at Rs 33.02 crore in Q4FY21 against Rs 3.38 crore in Q4FY20, revenue jumped to Rs 633.21 crore from Rs 461.03 crore YoY.
Chambal Fertilizers and Chemicals: The company reported sharply higher profit at Rs 447.89 crore in Q4FY21 against Rs 197.55 crore in Q4FY20, revenue fell to Rs 1,640.76 crore from Rs 1,969.09 crore YoY.