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Market Opening - An Overview
Indian indices are likely to see a gap-down opening on Friday as the SGX Nifty was down around 200 points at 16,374.00 from Nifty Futures’ Wednesday close of 16,572.30.
The rupee gained 11 paise to close at 74.24 against the US dollar on Wednesday, tracking gains in Asian peers against the dollar.
Asain shares were trading lower as invstors were worried about the China’s regulatory clampdown and increasing coronavirus cases.
CarTrade will make its stock market debut on Friday and the stock was commanding a premium of Rs 135 as of Thursday in the grey market, indicating a modest listing gain.
FII/DII trading data on Wednesday (18-08-2021)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 9557.63 | 10152.95 | (595.32) |
| DII | 4726.39 | 5455.88 | (729.49) |
| *All numbers are in INR crore | |||
Stocks in News Today
Tata Steel: The company has announced that it will pay a total of Rs 270 crore as annual bonus to all its eligible employees across various divisions and units of the company. A Memorandum of Settlement was signed between the management and Tata Worker’s union for payment of the bonus for the accounting year 2020-21.
Jet Airways: The company’s cabin and ground workers have moved a appellate tribunal challenging the Kalrock-Jalan consortium’s resolution plan with respect to pending salaries and retirement benefit. The Jet Airways Cabin Crew Association (JACCA) and Bhartiya Kamgar Sena, which represents most of the employees have urged National Company Law Appellate Tribunal to quash and set aside the order until their petition is heard as the plan affects the workers’ interests and violates labour laws.
Oil and Natural Gas Corp: The company has invited bids and seeking partners from private companies for handing over operations of 43 small and marginal oil and gas fields with a view to raising production. There are 43 oil and gas fields which are on offer having a total in-place oil and oil equivalent gas volume of about 160 million tonne. These contract areas are spread across Gujarat, Assam, Tamil Nadu and Andhra Pradesh.
Ujjivan Small Finance Bank: The lender’s managing director and chief executive officer Nitin Chugh stepped down from his positions citing personal reasons, with effect from September 20, 2021. He will no longer be a director of the bank and cease to be key managerial personnel of the bank, the company said in a regulatory filing.
ICICI Bank: The bank has been the biggest gainer from the ban on HDFC Bank selling credit cards and it has added more than 13.23 lakh credit cards between December and June. ICICI’s outstanding credit cards in the market stood at 110.3 lakh at the end of June 2021, compared with 97.1 lakh at the end of November 2020.
HCL Technologies: The IT major has appointed Fabiano Funari as the country head for Brazil. This appointment is said to improve the company’s global presence and expand its customer base in Latin America. HCL serves more than 30 clients in Brazil with its headquarters in Sao Paulo and employs 800 people in the country.