Sensex up over 150 pts in the opening, Nifty eyes 10,200; Indian rupee opens higher at 64.78 per dollar While Asia markets slip as concerns over a US-China trade war rise.
Market Live: Sensex up over 150 pts in the opening, Nifty eyes 10,200; PSU banks rally.
The market rallied more than half a percent in pre-opening trade, tracking positive global cues on easing trade war tensions.
Shares of Punj Lloyd surged more than 15 percent on winning a contract worth Rs 505 crore.
The company has been awarded a contract worth Rs 505,22,31,836 for six/four planning of NH 5 (New NH 16) from Puintola to Tangi in the state of Odisha.
The market rallied more than half a percent in pre-opening trade, tracking positive global cues on easing trade war tensions.
Shares of Punj Lloyd surged more than 15 percent on winning a contract worth Rs 505 crore.
The company has been awarded a contract worth Rs 505,22,31,836 for six/four planning of NH 5 (New NH 16) from Puintola to Tangi in the state of Odisha.
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The project is on EPC basis awarded by National Highway Authority of India (NHAI).
The construction period is 730 days from the appointed date, to be notified by NHAI after fulfillment of certain conditions precedent.
ICICI Securities IPO: ICICI Securities, the subsidiary of ICICI Bank, finally closed the issue and raised approximately Rs 3,500 crore against total IPO size of Rs 4,017 crore earlier due to a tepid response from non-institutional and retail investors on final day yesterday.
The offer was largely supported by qualified institutional investors whose reserved portion fully subscribed on the last day.
“The company has successfully closed its proposed Offer for Sale (OFS) by ICICI Bank and raised approximately around Rs 3,500 crore," ICICI Securities said.
Earlier the OFS attracted a strong response from anchor investors raising around Rs 1,717 crore on March 21, 2018. The QIB portion was fully subscribed as of 8:30 hours IST on March 26, 2018, it added.
The project is on EPC basis awarded by National Highway Authority of India (NHAI).
The construction period is 730 days from the appointed date, to be notified by NHAI after fulfillment of certain conditions precedent.
ICICI Securities IPO: ICICI Securities, the subsidiary of ICICI Bank, finally closed the issue and raised approximately Rs 3,500 crore against total IPO size of Rs 4,017 crore earlier due to a tepid response from non-institutional and retail investors on final day yesterday.
The offer was largely supported by qualified institutional investors whose reserved portion fully subscribed on the last day.
“The company has successfully closed its proposed Offer for Sale (OFS) by ICICI Bank and raised approximately around Rs 3,500 crore," ICICI Securities said.
Earlier the OFS attracted a strong response from anchor investors raising around Rs 1,717 crore on March 21, 2018. The QIB portion was fully subscribed as of 8:30 hours IST on March 26, 2018, it added.
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| Indian rupee opens higher |
Indian rupee opens higher at 64.78 per dollar.
I expect another day of consolidation in a range between 64.80-65 for today, says Bhaskar Panda of HDFC Bank.
The Indian rupee opened 9 paise higher at 64.78 per dollar on Tuesday versus the previous close at 64.87.
Bhaskar Panda of HDFC Bank said, "Risk appetite has made a comeback after trade war shock was absorbed by the markets. This has rubbed off on the USD-INR pair along with other Asian currencies. I expect another day of consolidation in a range between 64.80-65 for today."
"The central government declared it's borrowing calendar which indicated that the Government will raise around Rs 2.88 in the first half of next fiscal. Though the 10-year benchmark bond yield had tightened and moved past 7.61 percent, I expect it to stay within 7.55-7.65 percent range," he added.
The dollar index fell to a 5-week low against a major basket of currencies with the yen also slipping on optimism that rising tension of trade war between US and China is beginning to ease.
I expect another day of consolidation in a range between 64.80-65 for today, says Bhaskar Panda of HDFC Bank.
The Indian rupee opened 9 paise higher at 64.78 per dollar on Tuesday versus the previous close at 64.87.
Bhaskar Panda of HDFC Bank said, "Risk appetite has made a comeback after trade war shock was absorbed by the markets. This has rubbed off on the USD-INR pair along with other Asian currencies. I expect another day of consolidation in a range between 64.80-65 for today."
"The central government declared it's borrowing calendar which indicated that the Government will raise around Rs 2.88 in the first half of next fiscal. Though the 10-year benchmark bond yield had tightened and moved past 7.61 percent, I expect it to stay within 7.55-7.65 percent range," he added.
The dollar index fell to a 5-week low against a major basket of currencies with the yen also slipping on optimism that rising tension of trade war between US and China is beginning to ease.
Asia markets slip as concerns over a US-China trade war rise
In Japan, the Nikkei 225 fell 1.02 percent in early morning trade. The Topix index was down 0.83 percent. Across the Korean Strait, the Kospi fell 0.41 percent.
Asian markets traded lower on Monday, following a global sell-off late last week amid fears that rising tensions between the United States and China could lead to a full-blown trade war.
In Australia, the benchmark ASX 200 opened lower, trading down 0.57 percent at 5,787.4 in morning trade. The heavily weighted financial sector was down 0.81 percent.
Major banking stocks in the country fell — shares of ANZ declined 0.92 percent, Commonwealth Bank was down 0.69 percent and the National Australia Bank declined 0.86 percent. Westpac shares were down 0.35 percent.
In Japan, the Nikkei 225 fell 1.02 percent in early morning trade. The Topix index was down 0.83 percent. Across the Korean Strait, the Kospi fell 0.41 percent.
Beijing on Friday said it may target 128 US products with an import value of USD 3 billion in response to President Donald Trump's executive order earlier this month that imposed broad duties on foreign aluminum and steel imports.
Trump had also announced tariff plans for up to USD 60 billion in Chinese imports, although China did not officially connect its Friday threats of retaliation to that White House action.
In Japan, the Nikkei 225 fell 1.02 percent in early morning trade. The Topix index was down 0.83 percent. Across the Korean Strait, the Kospi fell 0.41 percent.
Asian markets traded lower on Monday, following a global sell-off late last week amid fears that rising tensions between the United States and China could lead to a full-blown trade war.
In Australia, the benchmark ASX 200 opened lower, trading down 0.57 percent at 5,787.4 in morning trade. The heavily weighted financial sector was down 0.81 percent.
Major banking stocks in the country fell — shares of ANZ declined 0.92 percent, Commonwealth Bank was down 0.69 percent and the National Australia Bank declined 0.86 percent. Westpac shares were down 0.35 percent.
In Japan, the Nikkei 225 fell 1.02 percent in early morning trade. The Topix index was down 0.83 percent. Across the Korean Strait, the Kospi fell 0.41 percent.
Beijing on Friday said it may target 128 US products with an import value of USD 3 billion in response to President Donald Trump's executive order earlier this month that imposed broad duties on foreign aluminum and steel imports.
Trump had also announced tariff plans for up to USD 60 billion in Chinese imports, although China did not officially connect its Friday threats of retaliation to that White House action.
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