Overnight Digest: Stocks likely to be in focus on April 6
On Wednesday, the Indian equity markets ended lower on the second consecutive day, as the US markets dipped over the concerns expressed by Fed Governor Lael Brainard as well as Fed President Mary Daly, who hinted at the speedy tightening of inflation by hiking the rates.
On Wednesday, the Indian equity markets ended lower on the second consecutive day, as the US markets dipped over the concerns expressed by Fed Governor Lael Brainard as well as Fed President Mary Daly, who hinted at the speedy tightening of inflation by hiking the rates. This led to the highest peak in the 10-year US Treasury bond yield since May 2019, which is at 2.66 per cent.
The benchmark indices erased the gains of the past two days and Sensex settled 435.24 points or 0.94 per cent lower at 59,610.41 level while Nifty contracted 149.75 points or 0.83 per cent at 17,807.65 level. On BSE, 2,163 shares have advanced, 1,250 shares declined and 99 shares are unchanged.
On the sectoral front, metal, oil & gas, power as well as energy indices rose between 1 and 2 per cent while finance, private Bank, auto & IT, pharma indices were down by a per cent each.
Keep these stocks on your radar for Thursday's trading session:
Larsen & Toubro - The buildings & factories business of Larsen & Toubro has secured an order from the Govt of Telangana to construct a super-speciality hospital at Warangal on a design-and-build turnkey basis with stringent timelines. The state-of-the-art facility covers speciality departments such as anaesthesia, dermatology, neurology, orthopaedics, psychiatry, pulmonary medicine, radiology, biochemistry, microbiology, pathology, and other departments. It also includes LINAC, PET CT, 300 ICU beds, 25 modular OTs, medical equipment supply, installation, testing, and commissioning. Dharamshala, kitchens and dining blocks, creche, and utility buildings are to be executed in the total site area of 43 acres. The shares of L&T closed 1 per cent higher on Wednesday.
Hindustan Aeronautics -HAL has entered into an MoU with Israel Aerospace Industries (IAI) to convert civil (passenger) aircraft to multi-mission tanker transport (MMTT) aircraft in India. The pact, which has been signed recently, states that HAL will convert pre-owned civil (passenger) aircraft into air refuelling aircraft with cargo and transport capabilities. This pact will provide India's defence ecosystem with new capabilities and cost-effective solutions in the market. The MoU will facilitate HAL and IAI's decade-long expertise in developing, manufacturing & producing leading defence platforms. The scope of MoU also covers "passenger to freighter aircraft" conversion along with MMTT conversions. The shares of HAL closed 0.22 per cent higher at Rs 1,555 on BSE.
Saregama India- The board of directors of the company have fixed April 27, 2022, as the record date for determining the eligibility of shareholders, with respect to the splitting up of its shares in the ratio of 1:10, meaning that one share of the face value Rs 10 will get split into ten shares of the face value of Re 1. The company has also recently appointed Pankaj Chaturvedi as the Chief Financial Officer, who will join office from April 11, 2022, as the present CFO has resigned, citing personal reasons. Pankaj Chaturvedi is a CA and is currently, CFO at Go Airlines. He has a rich experience of over two decades in accounting. The shares were up by 1.52 per cent at the time of market closing on Wednesday.
52-week high stocks- From BSE 200 pack, the shares of Indian Hotels Company, Tata Power, Adani Power, Vedanta, Bank of Baroda, NTPC, and Jindal Steel made a fresh 52-week high on Wednesday.