INDIAN EQUITY MARKET OUTLOOK - 12 Oct 2017
Nifty holds 10,000, Midcap outperforms Sensex; Bharti Infratel up 4%
Equity benchmarks opened mildly higher on Thursday, seeing a rebound after yesterday's sell-off.
The 30-share BSE Sensex was up 60.51 points at 31,894.50 and the 50-share NSE Nifty gained 29 points at 10,013.80. About three shares advanced for every share falling on the BSE.
Bharti Infratel, GAIL, Sun Pharma, Vedanta, Reliance Industries, L&T, Hindalco Industries, IOC, BPCL, Lupin, TCS and HPCL were early gainers while Coal India, Bharti Airtel, Cipla, ICICI Bank and Asian Paints were losers.
The broader markets outperformed benchmarks in opening. Nifty Midcap was up 0.6 percent or 100 points.
Tata Consultancy Services, the country's largest software services provider, will announce its July-September quarter earnings today after market hours.
Profit after tax for the quarter is expected to increase 4 percent sequentially to Rs 6,183 crore and revenue may grow 2.6 percent to Rs 30,356 crore, according to average of estimates of analysts
The country's second-largest lender ICICI Bank is planning to raise USD 150 million in offshore borrowing this fiscal.
The bank said that the committee of executive directors, in a meeting held yesterday approved the offshore borrowing plan for 2017-18.
"The bank, under its GMTN (global medium-term note) programme, acting through its DIFC (Dubai) branch, tapped its existing 3.25 percent fixed rate notes maturing September 2022 for an amount of USD 150 million on private placement basis," ICICI Bank said in a regulatory filing
Share price of Zen Technologies surged 12 percent in morning on the back of export order win worth Rs 64 crore.
"It has signed the biggest export order till date of about Rs 64 crore," company said in release.
The contract is for live and virtual combat training systems against tough international competition.
This order is expected to be executed in the first half of next financial year 2018-19.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.