Stock Market Today: According to technical analysts, abrupt reversals with more gap-up or gap-down movements suggest that the trend may last longer. Dalal Street is expected to have a successful start on Friday, according to the GIFT Nifty on the NSE IX, which traded lower by 30.5 points, at 19,692.50. On the daily chart, Nifty formed a long bear candle with an unfilled opening down gap as it closed Thursday’s weekly expiry 159 points lower.
Rupee falls; Tokyo stocks opened lower
The rupee steadied in a constrained range to end the day 2 paise weaker at 83.13 vs the US dollar on Thursday as investor confidence was dampened by the flight of foreign money and declining risk appetite. As investors anticipated the conclusion of the Bank of Japan’s policy meeting, Tokyo markets began lower on Friday, tracking down on Wall Street. The broader Topix index declined 0.87 percent, or 20.74 points, to 2,362.67 while the benchmark Nikkei 225 index fell 1.14 percent, or 371.12 points, to 32,199.91 in early trade.
Stock Market Today: Stocks in focus
Vedanta
The mining company’s board of directors has given the go-ahead for it to issue non-convertible debentures (NCDs) in one or more tranches to raise up to Rs 2,500 crore.
ICICI
The second-largest private sector lender in the nation has agreed to invest around Rs 5 crore in Quantum CorpHealth, a platform for healthcare services. Equities and Compulsorily Convertible Preference Shares (CCPS) will be used to complete the acquisition. Following the investment, the bank will subscribe for 100 equity shares and 3,33,200 CCPS, giving it a 9.99% stake in Quantum CorpHealth.
Tech Mahindra
The merger of Tech Mahindra Credit Solutions Inc. and its parent firm Tech Mahindra (Americas) Inc. has been approved by the IT solutions provider. An entirely owned material subsidiary of Tech Mahindra is Tech Mahindra (Americas) Inc. The two companies’ combination will lower compliance risk and optimise operational costs.
Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER