Profit taking may sink Nifty 200 points at open
March 04, 2021
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Most Asian-Pacific markets slumped in excess of 1% in early trade on Thursday while US stocks declined overnight
After gaining sharply in the last three days, Indian markets are likely to witness profit booking on Thursday. Clues from SGX Nifty and global markets too indicate a cooling-off of the bull party. SGX Nifty is currently ruling at 15,074, down about 220 points, against Nifty futures, which closed at 15,298.65 on Wednesday.
Most Asian-Pacific markets slumped in excess of 1 per cent in early trade on Thursday while the US stocks declined overnight, with Nasdaq being the biggest loser by 2.70 per cent. The Dow Jones Industrial Average slipped 0.40 per cent and the S&P 500 1.31 per cent.
Generic Engineering Construction and Projects Ltd on Wednesday said it has bagged construction orders worth Rs 81 crore. The company has been awarded with new work orders worth Rs 80.80 crore (including GST) for various institutional projects from new reputed clients,Generic Engineering Construction and Projects Ltd said in a regulatory filing. The work orders include a residential project based in Panvel worth Rs 44.68 crore from Cityopia Ventures Private Ltd, and special project for structural construction of replica of 12 Jyotrilings (Shiv Dham Phase I) at Kangnidar (Mandi), Himachal Pradesh, amounting to Rs 36.12 crore from Himachal Pradesh Tourism Development Corporation Ltd. With receipt of above, the total current outstanding order book stands at Rs 1,288.58 crore, the company said.