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SGX Nifty indicates positive opening for Indian indices

SGX Nifty

On Monday, the BSE Sensex closed at 58,296.91, up 0.29% and the Nifty ended at 17,377.80, up 0.31%

Markets are likely to be steady on Tuesday while trends in the SGX Nifty indicate a positive opening for Indian benchmark indices. On Monday, the BSE Sensex closed at 58,296.91, up 166.96 points or 0.29% and the Nifty ended at 17,377.80, up 54.20 points or 0.31%.

Yes Bank, which currently holds 25.63% stake in Dish TV, has asked the company to remove five directors in the company, including managing director Jawahar Lal Goel. The bank has also opposed the fundraising by Dish TV, of Rs. 1,000 crore via rights issue.

IT firm Infosys on Monday said it has almost completed its buyback programme and its buyback committee will meet on September 8 to consider closure of the buyback programme. Infosys board has approved an up to Rs. 9,200 crore buyback plan, which commenced from June 25. The IT major had proposed to buy back shares at a maximum price of Rs. 1,750 apiece.

Globally, stocks edged up on Tuesday to a record high for the eighth session in a row as investors bet the US Fed is likely to delay the tapering of its asset purchases following weak jobs data.

Japanese shares extended their bull run on hopes the ruling Liberal Democratic Party (LDP) will compile additional economic stimulus and easily win an upcoming general election after the country’s unpopular Prime Minister Yoshihide Suga said he would quit.

Tokyo’s Nikkei rallied 1.3%, moving past the psychological barrier of 30,000 for the first time since April, also helped by a reshuffle in the Nikkei.

Mainland Chinese shares, were little changed in early trade while MSCI’s ex-Japan Asian-Pacific index was down 0.1%

The world’s shares, measured by MSCI’s gauge of 50 markets, tacked on 0.1% to log its eighth consecutive day of gains to record highs.

The latest rally received a further boost from a surprisingly soft U.S. payrolls report on Friday.

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