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The GIFT Nifty, an early indicator of Nifty 50's performance, traded at 23,573. On Wednesday, Indian equity benchmarks closed marginally, higher after moving between gains and losses during the session. The Nifty 50 rose 33.05 points, or 0.14%, to 23,412.60, while the Sensex gained 49.74 points, or 0.07%, to 74,608.98.
Meanwhile, Oil prices steadied on Thursday as investors awaited a meeting between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing. Concerns over the Iran war continued to support crude prices. Brent crude traded below $106 a barrel after falling 2% in the previous session, while West Texas Intermediate was near $101.
Elsewhere, Asian markets traded mostly higher, led by Hong Kong's Hang Seng index, which rose 1.70%. South Korea's Kospi gained 1.38%, while Japan's Nikkei 225 advanced 0.63%. Australia's S&P/ASX 200 traded 0.04% lower.
Sensex expiry, India’s WPI data, the Trump-Xi meeting in China and the BRICS foreign ministers’ meeting will be in focus during the session.
Investors will also track U.S. initial jobless claims and Q4 earnings from JSW Steel, Tata Motors PV, United Spirits, HAL and Voltas. Board meetings on fundraising, a CMS Info Systems buyback and a TD Power Systems stock split will also be watched.
Bharti Airtel’s board approved issuing up to 14.6 crore shares worth Rs 28,220 crore to Indian Continent Investment as part of a stock swap for a 16.31% stake in Airtel Africa. The board also reappointed Sunil Bharti Mittal as Chairman for five years from Oct. 1.
Zydus Lifesciences will consider a share buyback on May 19, while Zydus Worldwide will acquire Assertio Holdings for $166.4 million. Lupin received U.S. FDA approval for Famotidine Injection vials.
IDBI Bank will consider raising up to Rs 10,000 crore through long-term bonds. Easy Trip Planners approved a Rs 500 crore rights issue, while Jana Small Finance Bank will consider fundraising options on May 18.
Sasken Technologies has been shortlisted under the short-term ASM framework. Allied Blenders and Distillers, Apollo Micro Systems and Man Industries will be excluded from the ASM framework.
Read more here.
Asian markets traded mostly higher, led by Hong Kong’s Hang Seng index, which rose 1.70%. South Korea’s Kospi gained 1.38%, while Japan’s Nikkei 225 advanced 0.63%. Australia’s S&P/ASX 200 traded 0.04% lower.
Indian equity benchmarks closed slightly higher on Wednesday after moving between gains and losses during the session. The Nifty 50 rose 33.05 points, or 0.14%, to 23,412.60, while the Sensex gained 49.74 points, or 0.07%, to 74,608.98.
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