The board of insurance behemoth LIC is scheduled to meet tomorrow to finalise the acquisition of 51 per cent stake in IDBI Bank, sources said.
Quarterly earnings from blue chips such as Hindustan Unilever and Kotak Mahindra Bank, inflation data, trend in crude oil prices and global cues will be key determinants for the stock market movement this week, say experts.
Continuing their selling spree, foreign investors have pulled out nearly Rs 1,200 crore from the debt markets in the first two weeks of the month on higher fuel prices and possibilities of rate hike by the US Federal Reserve.
Combined market capitalisation of nine of the 10 most valued companies surged by a whopping Rs 1,58,882.34 crore last week, helped by an overall strong broader market and smart surge in the valuation of Reliance Industries Ltd (RIL).
Supportive global cues and a healthy start to the earnings season lifted the key Indian equity indices over 2 per cent in the week ended Friday, with the BSE Sensex setting fresh benchmarks and the NSE Nifty50 closing over the 11,000-mark.
NSE Nifty snapped its 5-day winning rally to close marginally down by 4.30 points today due to late profit booking in media, PSU banks, realty, FMCG, parma and metal counters despite higher global cues.
U.S. stock indexes were little changed on Friday as a slide in financials on the three big Wall Street banks reporting mixed results was offset by gains in industrials as the U.S.-China trade rhetoric eased overnight.
The BSE Sensex retreated from record high to end flat at 36,541.63 today as investors booked profits in recent gainers despite firm global cues.
U.S. stock index futures were little changed on Friday as robust results from JP Morgan aided sentiment at a time of continuing fear over the trade conflict between the United States and China.
As the United States ramps up import tariffs and long-date U.S Treasury debt yields remain low, stocks in so-called defensive sectors may have room to run higher in price, even though expectations for the currently quarterly earnings seasons are high.
ICICI Lombard sells 17.7 Lk shares or 0.84% equity at Rs 270/sh
In pact with Reliance Nippon to sell Mutual Fund products
Nextgen Vakrangee Kendras to offer mutual fund distribution on pan India basis
Plans to sell part of se Asia biz as part of strategy to exit non scalable biz
To sell Singapore & Thailand units valuing them at $ 500Mn
Singapore & Thailand biz contributes 16% to revenues & 2% to EBITDA
To turn focus to domestic market
Avendus cap-KKR emerge as frontrunner to acquire IDFC MF
Offer of Rs 3,000-4,000 Cr made by FIN services firm