Before the trading day begins, learn about the number of factors that may influence share prices and the trading climate in stock markets.
Important developments across the globe, current situation of global markets, sentiments, and the overall news related to stocks or companies are some of the key indicators that you need to consider before investing in the stock market.
Also, the views of brokerages on select stocks and buy/hold/sell recommendations with target prices play a significant role in determining how the markets are going to perform.
Here are some of the factors that may affect the stock market today:
*SGX Nifty indicating a marginal uptick in trade.
*SGX Nifty Indicating an opening above levels of 11,650.
*US Dollar Index approaches 97.70, daily highs.
*Dollar stays positive in the 97.60/70 band.
*Asian markets open mixed, with Nikkei 225, which returned after an extended holiday period, slipping 0.89 per cent.
*Kospi opened 1.3 per cent lower after a holiday.
*Wall street marks a smart come back with Dow ending with marginal cuts of around 65 points.
*S&P 500 closed 0.4 per cent lower; Nasdaq Composite was down 0.5 per cent.
*European markets end lower with reports of the European Commission set to launch a formal investigation into Apple.
*Germany’s DAX and France’s CAC closed down by around 1 per cent each.
*Oil futures edged higher in volatile trade with US crude rising 31 cents, settling at $62.25/bbl. WTI hit $60.04 earlier in the session, its lowest since March 29. Brent futures rose 39 cents to $71.24 per barrel, after earlier hitting its lowest since April 2 at $68.79. Rising tensions between the US and Iran buoy oil prices.
Stocks In News
HDFC Bank: Board to consider splitting each share into two with a face value of Rs 1 on May 22. At present, the bank has issued about 272.33 crore shares of face value of Rs 2. The bank had split its stock in the ratio of 1:5 in July 2011.
HDFC: Board to consider raising funds through debt on May 13.
HDFC Life Insurance: Standard Life has divested 1.78 per cent of its stake in the insurer to raise Rs 1,400 crore. Divestment was done through OFS route. Both QIBs and retail investor quotas saw full subscriptions.
CG Power: Agreements for sale of Hungary business has been terminated. Certain conditions for finalising deal to sell assets didn't meet. The company continues to explore opportunities for divestment of Hungary business. Ganz Villamossagi and Alester Holdings had agreed to buy the company's Hungary Business at an EV of Euro 38 million.
Lemon Tree: To open a hotel under the brand name Red Fox Hotel in Alwar, Rajashtan. This is the firm's second managed hotel in Alwar, Rajasthan.
UPL, NACL: NACL entered into a long term Contract Manufacturing Agreement with UPL to manufacture advance agrochemical intermediates at it's Srikakulam technical plant. Value of the contract stands at Rs 75 crore per annum. Tenure of the agreement stands at 6 years after which the agreement could be renewed. The company will add new block for manufacturing the intermediates with capex outlay of Rs 60 crore. The production blocks would be used exclusively for UPL contract. The commercial production of the intermediates will commence from September 2019.
Jet Airways: Jet Airways won’t provide security services to foreign airlines from May 10. Bureau of Civil Aviation Security has asked foreign airlines to make alternative arrangement. Jet provides security services to 38 foreign airlines in the country.
Jet Airways: Lenders will not consider any expression of interest (EoI) received after April 12 deadline.
M&M: The automaker's compact SUV 'XUV300' sees over 26,000 bookings.
CS on ICICI Bank: Maintains 'Overpriced'; Target price at Rs 465
CLSA On ICICI Bank: Maintains 'Buy'; Target price Raised To Rs 500
Citi on ICICI Bank: Maintains 'Buy', Target price Rs 470
HSBC on ICICI Bank: Maintains 'Hold'; Target price at Rs 440
DB on ICICI Bank: Maintains 'Buy'; Target price at Rs 500
Macquarie on ICICI Bank: Maintains 'Increase'; Target price at Rs 465
MS on Marico: Upgrades to 'Overweight'; Target price at Rs 410
Jefferies on Marico: Maintains 'Hold'; Target price at Rs 380
CLSA on Marico: Maintains 'Buy'; Target price at Rs 465
CLSA on Gujarat Gas: Maintains 'Buy', Target price raised to Rs 195 from Rs 150
Citi On Gujarat Gas: Maintains 'Buy', Target price raised to Rs 230 from Rs 185