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Market opening - An Overview
-Nifty futures on the Singapore Exchange traded 88.5 points, or 0.60 per cent, higher at 14,798.50 signaling that Dalal Street was headed for a positive start on Monday.
Wall Street equities posted a solid rebound Friday, despite lackluster economic data including disappointing retail sales. The good news on mask requirements offered more hope for the economic reopening and helped drive gains in travel shares. The S&P 500 gained 1.49 per cent to 4,173.85. The Dow Jones Industrial Average rose 1.06 per cent to 34,382.13. Tech heavy Nasdaq climbed 2.32 per cent to 13,429.98.
The Indian rupee strengthened by 13 paise to settle at a near seven-week high of 73.29 against the US dollar on Friday, tracking weaker American currency in the overseas market.
Shares in News today:
Larsen & Toubro: The engineering and construction major reported 11.3 per cent rise in consolidated net profit at Rs 3,820.16 crore for March quarter 2020-21 on the back of higher revenue from operations. The company had posted a net profit of Rs 3,430.10 crore in the year-ago period.
State Bank of India: The largest state owned lender will sell three bad accounts to asset reconstruction companies or other financial institutions next month to recover dues of over Rs 235 crore, according to a sales notice.
Cipla: The drug major posted 73 per cent rise in consolidated net profit at Rs 412 crore for the fourth quarter ended March 31, 2021 on the back of robust sales across markets. The Mumbai-based firm had reported a net profit of Rs 238 crore in January-March 2019-20.
YES Bank: The private lender has invited bids for sale of immovable assets of a borrower, E Commerce Magnum Solution Ltd, to recover dues of over Rs 345 crore.