Business Standard Podcast

The domestic equity market's movement today will be driven by the futures and options expiry for March contracts, with investors rolling over positions to April series.  Apart from this, stock-specific action, movement of rupee against the US dollar, oil prices, and FII inflows will also impact the market sentiment today. On the global front, British Prime Minister Theresa May has said she would quit if her twice-defeated EU divorce deal passes at the third attempt, making a last-ditch bid to persuade rebels in her Conservative party to back her, according to a Reuters report. Benchmark indices Sensex and Nifty ended in the negative territory on Wednesday. The S&P BSE Sensex lost 101 points or 0.26 per cent to end at 38,133. The Nifty50 index of the National Stock Exchange (NSE) closed below 11,450 level at 11,445, down 38 points or 0.33 per cent. GLOBAL CUES Asian share markets were painted red on Thursday as recession concerns sent bond yields spiralling lower across the globe, overshadowing central bank attempts to calm frayed nerves. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2 per cent in early trade, with South Korea off 0.7 per cent. Japan’s Nikkei fell 1.6 percent, while E-Mini futures for the S&P 500 lost 0.4 per cent. US stocks eased on Wednesday as Treasury bond yields fell again and a prolonged inversion in the yield curve fanned fears of a U.S. economic slowdown. Oil prices fell on Thursday, extending losses into a second straight session, after widely watched data showed a surprising increase in US stocks. STOCKS IN FOCUS Mahindra & Mahindra Financial Services: The company's board has approved the acquisition of 1.18 crore shares of NRHFL from National Housing Bank. Unichem Laboratories: The company has received US FDA's final Approval for its ANDA, Tadalafil tablets, 2.5 mg, 5 mg 10 mg and 20 mg. Bharat Financial Inclusion: The firm has completed ninth direct assignment of Rs 1,529 crore. Sheela Foam: Company's non-retail investors' portion in offer for sale issue oversubscribed by 2.5 times, receiving bids for 1,05,90,951 shares against OFS size of 42,33,764 shares. NBCC India: The company has secured new works for five infrastructure projects of Rs 1,003 crore. Godrej Agrovet: The firm has acquired an additional 1.1 per cent stake in its joint venture Godrej Tyson Foods, increasing its total shareholding to 51 per cent. It also acquired additional 2.16 percent stake in Godrej Maxximilk Private Limited. Tata Motors: S&P has downgraded its credit rating on Jaguar Land Rover, and its owner, to 'B+' from 'BB-' due to the growing risks of a no-deal Brexit and US import tariffs.