Private sector lender HDFC Bank on Wednesday said it plans to raise up to ?50,000 crore through private placement of debt instruments over the next 12 months. The bank’s board will consider the proposal on 17 April
India stock markets are likely to be on the edge on Thursday following global cues. Trends in SGX Nifty suggest a weak opening of Indian benchmark indices.
After a brutal sell-off Monday, Indian equities had rallied in the last hour trade on Tuesday. The Sensex had jumped 660.68 points, or 1.38%, to end at 48,544.06, while the Nifty closed 194.00 points, or 1.36% higher at 14,504.80. Indian financial markets were shut on Wednesday for a public holiday.
Asian shares were on the backfoot on Thursday following mixed cues from Wall Street where a sharp sell-off in the largest bitcoin exchange Coinbase hit tech shares while the dollar index struggled near one-month lows.
Equities world-wide have surged in recent weeks led by successful rollouts of covid-19 vaccines around the world, US stimulus packages and higher US inflation expectations.
Overnight, Wall Street ended mixed with the tech sector the biggest under-performer after Coinbase was sold off on its listing day, dragging the Nasdaq lower.
Bank home, Infosys reported Q4FY21 constant currency USD revenue growth of 2% QoQ, below estimates of 3.1%, as a higher offshore revenue share partially offset the strong volume growth of 4.6% QoQ. The management guided at FY22 USD revenue growth/EBIT margin of 12-14% CC YoY/22-24%. It also characterised the current demand environment to be one of the strongest for a while.
Wipro will announce its March quarter results today.
Private sector lender HDFC Bank on Wednesday said it plans to raise up to ?50,000 crore through private placement of debt instruments over the next 12 months. The bank’s board will consider the proposal on 17 April.
The production of Sputnik V vaccine in India will be ramped up only from the next quarter and till then Dr Reddy’s Laboratories, the marketing partner for the vaccine in the country, will primarily import the shots from Russia, an official from the Hyderabad-based company said on Wednesday.
Bharti Airtel Ltd on Wednesday announced a new corporate structure that will allow the telco to sharpen its focus on digital assets and unlock value from India’s digital opportunity.
In the currency market, the US dollar was on track for a fourth consecutive day of fall against its major counterparts.
Forex investors are keeping an eye on Treasury yields for direction with a potential market panic about accelerating inflation seen as the biggest risk to sentiment.
Major policymakers, including the U.S. Federal Reserve, have repeatedly said there is still plenty of labour market slack to keep inflation in check for a several years though there might be temporary spikes which they are willing to overlook.
Against the Japanese yen, the dollar slipped for a fourth day to 108.93. The euro rose to $1.195 and sterling was a shade higher at $1.3790.
In commodities, oil gave back some of the gains from Wednesday when it climbed nearly 5% on signs of increasing crude demand.
Brent crude was off 40 cents at $66.18 a barrel. Light crude slipped to $62.75.
Gold was 0.1% higher at $1,738.8 an ounce.
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