Pre Market Analysis: Dalal Street may open higher; Coal India, ICICI Bank, Zomato in news today

Market Opening - An Overview

SGX Nifty futures were trading 0.48% higher at 17145, signalling that Dalal Street is likely to open higher on Wednesday.

Asian shares were mixed on Wednesday as traders weighed Federal Reserve Chair Jerome Powell’s hawkish signal of tighter monetary policy ahead to tackle risks from rising inflation.

The Indian rupee ended 6 paise lower to 75.16 against the US dollar on Tuesday.

India’s economy grew at 8.4 per cent during the second quarter of FY22 as Covid-induced restrictions were eased and the rate of vaccination rose. Chief Economic Advisor Krishamurthy Subramanian said India was likely to have double-digit growth this fiscal year. The services sector, which constitutes 57 per cent of the economy, slowed down. This was due reduced economic activity in trade, hotels, transport and communication services sector as the restrictions were eased gradually for these sectors.

FII/DII Trading Data on Tuesday (30-11-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Coal India: The public-sector undertaking (PSU) will invest about Rs 19,650 crore to strengthen its rail infrastructure. The move will increase coal evacuation capacity of the PSU through rail mode by an additional 330 million tonnes per annum (MTPA) by FY24.

ICICI Bank: The lender’s alternative asset arm ICICI Venture said it has divested half of its 13.5 per cent stake in the recently concluded IPO of Go Fashion (India) Ltd, which owns women’s wear brand Go Colors. Through the stake sale, ICICI Venture made five times return in its investment made in Go Fashion, it said in a statement.

Zomato Ltd: The company has announced the launch of Zomato Wings, which is a platform to connect investors with restaurants, to help them raise funds. Its CEO said that Zomato hopes to build the go-to platform for venture capital firms, angel investors, family offices, etc. which are looking to make private investments in restaurants and cloud-kitchens.

JSW Group: Through its e-commerce platform JSW One, the group has commenced its fulfillment operations for its JSW One MSME business division in Tamil Nadu. JSW One MSME is a platform which will offer an e-commerce marketplace for small and medium-size manufacturers and contractors. MSME customers can access the tech-based marketplace for buying raw materials and consumables in easy and convenient manner.