Domestic stock markets are likely to open on a cautious note on weak global cues. Trends on SGX Nifty indicate a cautious start for Nifty with a gain of 17 points. Nifty futures were trading at 17,408 on the Singapore Stock Exchange at 7:30 am.
On Tuesday, the BSE Sensex closed 69.33 points higher at 58,247.09 and the NSE Nifty was up 24.70 points at 17,380.
Wall Street lost ground on Tuesday as economic uncertainties and rising prospects of a corporate tax rate hike dampened investor sentiment and prompted a broader sell-off despite signs of moderating inflation.
Asia-Pacific shares were lower in early Wednesday morning trading after overnight losses on Wall Street, with investors awaiting the release of Chinese economic data.
Stocks to watch in trading in today’s session
HCL Tech Expanded partnership with Finstra for technical solutions in South Korea, Taiwan.
Power Finance Corporation (PFC)
Through the rights issue, UBS Group AG has increased its stake in the company from 3.4 per cent to 5.67 per cent.
Dynacons Systems has bagged an order of Rs 7.46 crore for Information Technology and Internet of Things for Disaster Management Department, MCGM, Mumbai.
Rana Sugars has disinvested 10 per cent equity investment in Karimganj Biofuels through transfer of its shares.