Markets may see a gap-up opening on positive global cues
May 06, 2021
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Stocks to watch out for today: IDBI Bank, Indian Bank, Ceat, Oracle Financial Services Software, and Godrej Industries. Indian stock markets are expected to see a gap-up opening on Thursday, thanks to positive global cues, new liquidity measures announced by RBI and value buying at lower levels. However, concerns over economic recovery due to the spreading of the Covid-19 pandemic keep investors nervous.
The SGX Nifty at 14,735 (800 am IST) signals at least 50 points gain for Nifty futures, which on Wednesday closed at 14,679. Overnight US stocks ended on a mixed tone, with Dow Jones Industrial Average and S&P 600 gaining but the tech-focused Nasdaq closing in the red. After long holidays, Japanese markets opened on Thursday and is up two per cent. Other stocks in the Asia-Pacific region, such as Korea and Taiwan, are up, while Australia is down marginally.
Daily Market Commentary - May 5, 2021 - Bonanza Portfolio
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India s Richest Banker Urges Curtailing Activity to Stop Virus
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India’s wealthiest banker, Uday Kotak, implored authorities to consider curbing economic activity in a bid to counter the coronavirus crisis.
India is suffering the world’s worst COVID-19 outbreak, with a daily infection rate surpassing 300,000 and more than 2,000 deaths every day. India’s struggling to secure supplies from abroad after its hospitals became overwhelmed and oxygen supplies ran out in some parts of the country. At this critical juncture when toll of lives is rising, CII urges the strongest national steps including curtailing economic activity to reduce suffering,
- Uday Kotak, chief executive of Kotak Mahindra Bank
“At this critical juncture when toll of lives is rising, CII (Confederation of Indian Industry) urges the strongest national steps including curtailing economic activity to reduce suffering,” Kotak, president of CII and Chief Executive of Kotak Mahindra Bank Ltd, India’s third-largest lender by market value, said in a tweet.
Kotak Mahindra Bank Ltd Q4FY21 consolidated PAT at Rs 2589 32 crore
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