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Market Opening - An Overview
SGX Nifty futures were trading 0.47% lower at 16,492.50, signalling that Dalal Street was headed for a negative start on Friday.
Asian stocks were trading lower, tracking the US markets due to concerns about soaring inflation and the war in Ukraine. Data showed that the US Inflation hit a fresh 40-Year high of 7.9% in February. Japan’s Nikkie plunged 2.44% and Topix fell 1.99%. In China, CSI 300 index lost 2.16% and Hang Seng tanked 3.43%.
The rupee appreciated 25 paise to close at 76.30 against the US dollar on Thursday.
FII/DII Trading Data (10-03-2022)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 10686.06 | 12667.21 | (1981.15) |
| DII | 9273.55 | 8327.84 | 945.71 |
| *All numbers are in INR crore | |||
Stocks in News Today
Reliance Industries Ltd (RIL): The energy major has sold natural gas produced from a coalfield in Madhya Pradesh for over $ 23 to firms, including GAIL, GSPC and Shell, but its price discovery was beaten by smaller explorer HOEC, which sold half of its sales volume for over $ 25. Reliance sold 0.65 million standard cubic metres per day (mmscmd) of gas from its coal-bed methane (CBM) block SP-(West)-CBM-2001/1 at a $8.28 per million British thermal unit premium over prevailing Brent crude oil prices, two sources with direct knowledge of the matter said.
NMDC: The government-owned company said it has conducted an e-auction of 8,337 carats rough diamonds produced at its Panna diamond mines in Madhya Pradesh. In a statement, the state-owned miner said the e-auction process received an overwhelming response from Diamond merchants of Surat, Mumbai and Panna.
Kirloskar Ferrous Industries: The company has picked up a majority stake in specialised seamless tube manufacturer Indian Seamless Metal Tubes (ISMT) for Rs 670 crore. The deal involves Kirloskar investing Rs 670 crore in ISMT, of which Rs 476.63 crore is equity investment for 51.25 per cent stake and the balance Rs 194 crore is an unsecured loan to the tube manufacturer, the companies said in a statement.
Coforge Ltd: The company’s promoter, Hulst BV, offloaded nearly 10 per cent stake in the IT company for an estimated amount of Rs 2,560 crore through open market transactions. According to bulk deal data available with BSE, Hulst BV sold a total of 60 lakh shares, aggregating to 9.85 per cent stake in the company. Meanwhile, Societe Generale and Nomura India Investment Fund Mother Fund picked up 4.86 lakh shares and 4.67 lakh shares of Coforge, respectively.
Wipro: The IT company has announced a long-term partnership with Pandorum Technologies for development of technologies that shorten time-to-market and maximise patient outcome during R&D and clinical trials of regenerative medicine.
Tata Steel: The company, along with Tata Steel Long Products, has executed the share sale agreement with MMTC, NMDC, MECON, BHEL, Odisha Mining Corporation, President of India, Government of Odisha, Neelachal Ispat Nigam for acquisition of 93.71% equity shares in NINL.
Colgate Palmolive (India): The company’s nomination & remuneration committee has recommended the name of Prabha Narasimhan as its next MD and CEO to the board of directors for her appointment effective from September 1, the company has said in its filing.
Future Consumer Ltd: The company has decided to terminate a joint venture pact with New Zealand’s dairy firm Fonterra, according to its regulatory filing. The company’s board has also approved the discontinuance of the business operations of the joint venture company — Fonterra Future Dairy, subject to compliance with the applicable laws and obtaining of necessary consents and approvals as may be required.