BSE, NSE trade flat in line with global markets; TCS in focus ahead of Q1 results
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The domestic equity markets opened flat on Thursday, tracking a similar trend in the Asian markets.
MSCI's broadest index of Asia-Pacific shares outside Japan, were down 0.1% but the index was still at an eight-month peak; Nikkei was flat, a Reuters report said.
International markets are awaiting to see the results of a Bank of England meet, where they expect bankers to cut interest rates to infuse liquidity as promised, in the aftermath of the Brexit vote.
While the 30-share benchmark BSE Sensex was trading at 27,811.05, down Rs 4.13 or 0.01% lower, the NSE was at 8.515.35, down Rs 4.15 or 0.05% from previous trading session.
All eyes in the domestic markets are on Tata Consultancy Services (TCS) which is slated to announce its April-June quarter results later in the day. In the run up to the results, TCS was trading at Rs 2,502, up Rs 10.60 or 0.43% from previous day's close.
On the BSE, the top gainers were Unitech 5.04%, Indian Hotels 4.46%, and GVK Power and Infrastructure 3.96%. And on the NSE, the top gainers included BPCL, PowerGrid, GAIL, Maruti and Tata Motors.
The rupee gained 9 paise against the dollar in early trade to 66.96 a dollar at the interbank foreign exchange.
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The Supreme Court on Tuesday dismissed a petition seeking to revert to ballot paper voting in elections in the country.
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The Bharatiya Janata Party (BJP) would not rush into announcing its chief ministerial candidate until the distribution of portfolios in the new Maharashtra government is finalised, party sources said on Tuesday.
The indications that the Mahayuti coalition's decision on who would become the next CM would be delayed emerged as the Governor on Tuesday morning asked Eknath Shinde to act as a caretaker chief minister after he tendered his resignation.
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Upon being asked how many people will suffer from lung cancer in future because of poor AQI, the Ashoka University dean said that “every Delhi is developing some degree of lung damage.” People who have pre-existing diseases or sensitivity are more serious, but no one is immune to it, he added.
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India's Andhra Pradesh state is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose billionaire founder has been indicted in the United States, a top official told Reuters.
US authorities have charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unnamed Indian government officials to obtain solar power-supply contracts in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the federal territory of Jammu and Kashmir, between 2021 and 2022.
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The board of directors of Hindustan Unilever (HUL) on Monday gave an in-principle approval to demerge the ice-cream business into an independent listed entity.
Subject to necessary approvals and procedures, shareholders of HUL will receive shares in the new entity in proportion to their shareholding in the company, HUL said in a release.
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