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Market opening - An Overview
Nifty futures on the Singapore Exchange traded 46 points, or 0.31 per cent, lower at 14,704.50 in signs that Dalal Street was headed for a negative start on Wednesday.
US equities were mostly flat on Tuesday while tech shares dropped amid a flurry of quarterly earnings and ahead of the conclusion of the Federal Reserve’s two-day meeting. The benchmark Dow Jones Industrial Average closed essentially unchanged at 33,984.93, as did the broad-based S&P 500, which shed less than a point from Monday’s record to end at 4,186.72. The tech-rich Nasdaq Composite Index fell 0.3 per cent to 14,090.22.
The rupee appreciated by 7 paise to close at 74.66 against the US dollar on Tuesday on the back of positive domestic equities. At the interbank forex market, the local unit opened at 74.65 against the greenback and witnessed an intra-day high of 74.51 and a low of 74.73.
Shares in News today:
Info Edge: Info Edge said it will sell stake worth Rs 750 crore in the IPO of its investee company Zomato. In a regulatory filing, Info Edge said Zomato — an online food delivery platform — is proposing an IPO of its equity shares, comprising a fresh issue of equity shares by Zomato Ltd and an offer for sale by Info Edge.
Bharti Airtel: OneWeb said it has secured $550 million (about Rs 4,100 crore) in funding from Eutelsat Communications, which will get about 24 per cent stake in the broadband satellite communications company. Bharti-group backed OneWeb said that the new investment would take the total funding to $1.9 billion in fresh equity.
PNB Housing Finance: The HFC reported a consolidated net profit of Rs 127 crore for the last quarter of fiscal ended March 2021. The company had posted a net loss of Rs 242 crore in same quarter a year ago. Sequentially, the profit was down from Rs 232.40 crore in Q3 FY21.
SBI: The country’s largest lender State Bank of India (SBI) said a committee of its central board will consider raising up to USD 2 billion (around Rs 14,942 crore) through bonds in this fiscal year.
Nippon Life India Asset Management: Nippon Life reported a profit after tax of Rs 167 crore for the three months ended March 2021. In comparison, the company had posted a profit after tax (PAT) of Rs 4.13 crore in the same quarter preceding fiscal, NAM India said in a statement.