Stock Market Update: Stock markets rise in early trade, market will keep an eye on these stocks
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stock market update: Amid positive global trend, local stock markets gained momentum in early trade on Monday. The trend of domestic markets was also positive due to the inflow of foreign funds. BSE’s 30-share Sensex climbed 243.69 points to reach 65,630.85 in early trade. NSE Nifty rose 91.5 points to 19,526.80. Tata Steel, JSW Steel, UltraTech Cement, Larsen & Toubro, Maruti, HCL Technologies, Wipro and Tech Mahindra were among the gainers in the Sensex. On the other hand, shares of ICICI Bank, Nestle, Asian Paints and Power Grid remained in the red. In other Asian markets, Kospi of South Korea, Nikkei of Japan, Hangseng of Hong Kong and Shanghai Composite of China remained profitable. US markets closed with a positive trend on Friday. Global oil standard Brent crude was up 0.05 percent at US $ 88.59 per barrel. Foreign institutional investors bought shares worth Rs 487.94 crore on Friday.
Rupee falls 15 paise to 82.77 per dollar in early trade
The rupee depreciated 15 paise to 82.77 against the US dollar in early trade on Monday. The strengthening of the American currency and the rise in crude oil prices had an impact on the domestic currency. In the interbank foreign exchange market, the rupee opened at 82.71 and then reached 82.77 per dollar. This is a decline of 15 paise over the previous closing level. The rupee had closed at 82.62 against the dollar on Friday. Meanwhile, the dollar index, showing the US dollar’s position against a basket of six major currencies, declined 0.06 per cent to 104.17. Global oil benchmark Brent crude futures were up 0.01 percent at $88.56 per barrel.
Will keep an eye on these stocks today
Here are some stocks whose price may see significant volatility today.
Kotak Mahindra Bank: Uday Kotak has left the post of Managing Director and CEO of Kotak Mahindra Bank. Deepak Gupta, who is now joint managing director, will serve as CEO till December 31.
biocon: Biocon through its step-down, wholly owned subsidiary, Biocon Generics Inc. announced the acquisition of Iva Pharma Inc.’s oral solid dosage manufacturing facility in Cranbury, New Jersey.
GMR Power: GMR Smart Electricity Distribution, a subsidiary of GMR Power and Urban Infra, has been awarded the Letter of Award (LOA) by Purvanchal Vidyut Vitran Nigam for undertaking smart metering project across the state.
Infosys: Infosys announced the completion of the acquisition of Danske Bank’s IT center in India. Danske Bank selects Infosys as a key partner to accelerate and expand digital transformation activities.
IDFC First BankOn Friday, GQG Partners, a notable investor in Adani Group’s equity, bought stake in IDFC First Bank in bulk deals.
IDBI BankAccording to sources, the government has invited bids to engage an asset valuer for the strategic disposal of IDBI Bank.
Maharashtra Seamless: Oil India and IOCL have awarded Rs 157 crore deal for seamless pipes to Maharashtra Seamless.
Mahindra & Mahindra: IFC will invest Rs 600 crore in Mahindra Last Mile Mobility, a wholly owned subsidiary of M&M, by subscribing to compulsorily convertible preference shares.
RVNL: Madhya Gujarat Vij Company Limited (MGVCL) has issued letter of acceptance to Rail Vikas Nigam Limited (RVNL) for complete turnkey contract for construction of distribution infrastructure projects for deficit reduction in Vadodara.
Shilpa Medicare: PMDA, Japan inspects Shilpa Medicare Lifesciences API production facility at Raichur for GMP compliance. The inspection was completed without any notable findings.
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