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Global Markets Amid Fed and ECB Minutes, L&T, Power Grid & IOC Among Other Top Stocks to Watch Out Today
Fri, 18 Aug Pre-Open

On Thursday, Indian share markets oscillated between green and red in a broad range throughout the day and ended the session with marginal gains, with Nifty holding 9,900 mark. The BSE Sensex ended up by 4 points.

The top gainers on the Sensex were Infosys up by 4.5%, NTPC up by 4.1%, Coal India up by 3.9%, Bharti Airtel up by 1.7% and HDFC up by 0.8%.

Top Stocks in Action Today

Power Grid Corporation share price will be in focus today after it reported that the company will invest Rs 19.3 billion for power transmission related project between Western Region (Raigarh, Chhattisgarh) and Southern Region (Pugalur, Tamil Nadu) - North Trichur (Kerala).

Bharat Petroleum Corporation (BPCL) has signed a Memorandum of Understanding (MoU) with Energy Efficiency Services (EESL), under the Ministry of Power, for distribution of energy efficient appliances under the flagship UJALA scheme.

IOC share price will also hog the limelight today on the reports that it has signed a Memorandum of Understanding (MoU) with Energy Efficiency Services (EESL), under the Ministry of Power, for distribution of energy efficient appliances under the flagship UJALA scheme.

GMR Infrastructure Ltd share price will be in focus following the Supreme Court order which allows the Delhi International Airport Ltd to use the land within the airport area for commercial purposes. The order enables the company to monetise the land estimated to be about 168 acres.

Larsen & Toubro will sell its entire stake in unlisted wholly-owned subsidiary L&T Cutting Tools Ltd to IMC International Metalworking Companies BV for Rs 1.74 billion (around US$27 million). Warren Buffett-led Berkshire Hathaway Inc owns IMC International Metalworking Companies.

Global Stock Market Key Events

Global shares were mixed in narrow trading on Thursday, with European benchmarks falling back after recent gains. Japan's Nikkei 225 index slipped as the yen strengthened against the US dollar, despite the release of upbeat trade data for July.

Meanwhile, the minutes of the Fed's July meeting showed a growing worry among the policymakers about the lack of strong inflationary pressures in recent data releases. This suggests that the central bank may hold off on raising interest rates this year.

The euro dropped against its major counterparts as European shares declined after Fed minutes showed concern among policy makers about weak inflation and investors await the European Central Bank's July meeting accounts for more insights about the future of the stimulus program.

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From the IPO Space

After successfully completing its initial public offer (IPO) recently, Cochin Shipyard Ltd (CSL) has lined up expansion projects worth Rs 28 billion. The IPO's proceeds will be utilised to fund these expansions.

The company has raised Rs 14.4 billion from the IPO, which has been a combination of fresh issue and offer for sale in the ratio of 2:1. The IPO was oversubscribed by over 75 times with more than Rs 1.11 trillion being raised against the offer of Rs 14.4 billion.

Meanwhile, as per the reports, SREI Equipment Finance is going to come up with an IPO. SREI Infra holds 100% of SREI Equipment Finance. The company is planning to list SREI Equipment Finance and the intent is to dilute up to 25% of capital via IPO.

IPOs are all the rage in the share markets these days. With new companies listing by the day, all with promises of superior returns.

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We have reviewed each of them and have released their recommendation notes. You can check the same on their IPO page.

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From the Commodities Space

  • Oil Prices Wobble
  • Oil futures struggled for direction on Thursday, a day after heavy selling that came on the back of data showing US oil production has jumped to an over two-year high.

    The Energy Information Administration reported a rise of 79,000 barrels a day in total crude-oil production to 9.502 million barrels a day last week. The EIA, however, also said that oil inventories fell by 8.9 million barrels, more than double the decline expected by analysts.

  • Gold Rises on Fed Caution
  • Gold rose for a second consecutive day on Thursday after Federal Reserve officials hinted that the US interest rates could rise more slowly than expected

To keep a tab on the movements in crude oil and other commodities, you can read the stock market commentary from the Daily Profit Hunter team. Their commentary tracks the developments in the global economy as well as stock, currency and commodity markets.

Mutual Funds Pump in Record Amount Between April-July

Mutual funds managers pumped more than Rs 300 billion in the stock markets during April-July of the current fiscal due to strong participation from retail investors.

In comparison, foreign portfolio investors (FPIs) bought equities worth 210 billion during the period under review.

Reportedly, fund managers invested a net sum of Rs 112.4 billion in stock markets in April, Rs 93.6 billion in May, Rs 91.1 billion in June and Rs 118 billion in July.

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Mar 16, 2018 (Close)