Sunday, 3 April 2016

Sensex, Nifty Likely to Open Higher; HCL Tech, Geometric in Focus

Sensex and Nifty are likely to open higher tracking positive trading of Nifty futures on the Singapore Stock Exchange.
The Nifty futures traded on the Singapore Stock Exchange also known as the SGX Nifty or Singapore Nifty was up 0.25 per cent or 19 points at 7,764.
Meanwhile, other Asian markets were mostly trading higher. China's Shanghai Composite was up 0.12 per cent and Japan's Nikkei advanced 0.11 per cent. While, Hong Kong's Hang Seng fell 1.34 per cent.
Stocks on Wall Street rose on Friday after better-than-expected US jobs and factory survey data, but a gloomy manufacturing report in Japan knocked other global equity markets lower and crude oil prices slumped.
Nonfarm payrolls increased 215,000 and the unemployment rate rose to 5.0 per cent from an eight-year low of 4.9 per cent, the US Labor Department said. The jobless rate rose as more people continued to seek work, a sign of confidence in the jobs market.
Back home, foreign institutional investors bought shares worth Rs 214 crore while domestic institutional investors sold shares worth Rs 519.91 crore on Friday.
HCL Technologies and Geometric will be in focus today after Geometric said it will sell its IT services business to HCL Technologies Ltd in an all-stock deal valued at Rs 1,237 crore, as HCL looks to strengthen its engineering and automotive services portfolio.

Jindal Steel will also be on investors radar on reports that lenders to Jindal Steel and Power Ltd (JSPL) have approved refinancing of loans worth Rs 2,500 crore.

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