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Market opening - An Overview
Nifty futures on the Singapore Exchange traded 31.50 points, or 0.22 per cent, higher at 14,371.50 in signs that Dalal Street was headed for a positive start on Monday.
Wall Street stocks rose on Friday to finish a volatile week on a positive note following strong new home sales data. The Dow Jones Industrial Average index finished up 0.7 per cent at 34,043.49. The broad-based S&P500 index advanced 1.1 per cent to 4,180.17, while the tech-rich Nasdaq Composite index jumped 1.4 per cent to 14,016.81.
Falling for the fourth session in a row, the rupee on Friday closed below the 75 mark against the US currency for the first time in nearly two weeks as a record spike in COVID-19 cases and losses in the domestic equities weighed on investor sentiment.
Shares in News Today:
ICICI Bank: The second largest private sector lender, which reported more than three-fold jump in its standalone net at Rs 4,402 crore, said that things will be better in the next two months and exuded confidence of having a strong balance-sheet to deliver consistent returns.
HCL Tech: The IT services major is engaging closely with clients to prioritise work, and shifting some workload from India to other geographies to ensure business continuity. HCL Tech posted a 6.1 per cent decline in consolidated net profit in March quarter to Rs 2,962 crore.
ONGC: The petroleum ministry has told India’s largest oil and gas producer ONGC to sell stake in producing oil fields such as to Ratna R-Series to private firms, get foreign partners in KG basin gas fields, monetise existing infrastructure, and hive off drilling and other services into a separate firm to raise production.
Indiabulls Real Estate Ltd: The company reported a consolidated net profit of Rs 94.5 crore for the January-March quarter. The Mumbai-based firm had posted a net loss of Rs 109.70 crore in the year-ago period.