Stock Market Today: The NSE IX’s GIFT Nifty traded 12 points, or 0.06 percent, higher at 20,229.50, indicating that Dalal Street will have a successful Friday. The Nifty developed a spinning top-like pattern on the daily chart, which pointed to the potential of the construction of a short-term top as the index ended Thursday’s expiry 33 points higher. After good U.S. economic data and an ECB rate hike, the dollar was on the offensive in Asia on Friday. Traders’ focus now cautiously shifts to a data avalanche from China.
Rupee falls; Tokyo stocks opened higher
The spike in crude oil prices and the strong US dollar abroad weighed on the rupee, which gave up early gains to end the day 2 paise weaker at 83.03 against the US dollar. On Friday, Tokyo equities began higher, continuing gains made on Wall Street as traders assessed positive retail sales data.The broader Topix index increased by 0.83 percent, or 19.89 points, to 2,425.46 while the benchmark Nikkei 225 index gained 0.83 percent, or 274.72 points, in early trade.
Stock Market Today: Stocks in focus
Bharat Forge
A wider range of armoured vehicles will be produced in India for Paramount’s international customers, according to an announcement made by the global aerospace and technology company Paramount, which has its headquarters in the United Arab Emirates. For the Indian Army, their current relationship creates KM4 armoured vehicles.
NTPC
To amend the current Joint Venture (JV) dated February 28, 2008, and make it an integral part thereof, the state-owned power production business and Uttar Pradesh Rajya Vidyut Utpadan Nigam (UPRVUNL) have signed a Supplementary Joint Venture Agreement (JVA). In 2008, NTPC and UPRVUNL agreed to a joint venture (JV) for the creation of Meja Urja Nigam (MUNPL). The Meja Stage-II (2X660 MW), Obra ‘D’ Thermal Power (2X800 MW), and Anpara ‘E’ Thermal Power Plant (2X800 MW) projects will be developed under the additional JVA, provided they are technically and commercially viable, have the required approvals, and have a power purchase agreement (PPA) in place.
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