The domestic stock markets are likely to have a gap-up opening, buoyed by the strong closing on Wall Street on Wednesday after the Federal Reserve said that the US economy is heading for its strongest growth in nearly 40 years. Trends on SGX Nifty indicate a gap-up opening for the index in India, with a 164-points gain. At 7:30 am, the Nifty futures were trading at 14,935, higher by 164 points or 1.5 per cent on the Singapore Stock Exchange.
On Wednesday, the benchmark indices fell for the fourth consecutive session amid selling in banking, financials, auto, metals and pharma counters. The S&P BSE Sensex declined 562.34 points or 1.12 per cent to close at 49,801.62 and the Nifty dropped 189.20 points or 1.27 per cent to 14,721.30.
Stocks to watch in trade in today’s trading (March 18, 2021):
Bharat Heavy Electricals
Bharat Heavy Electricals has emerged as the lowest bidder for Rs 10,800 crore fleet mode tender floated by Nuclear Power Corporation of India (NPCIL) for the 6×700 MW Turbine Island package projects. With this, BHEL has retained its market leadership position of being the sole Indian supplier of nuclear steam turbines.
Somany Ceramics has declared an interim dividend of Rs 2.40 per share, which is 120 per cent higher compared to the face value of Rs 2 each, for the financial year 2020-21.
Indian Metals & Ferro Alloys
Indian Metals & Ferro Alloys said ICRA has upgraded the credit rating on company’s long-term and short-term loan facilities from banks. “ICRA has upgraded its long term credit rating to ‘A’ from ‘A-‘ with stable outlook, and short term credit rating to ‘A1’ from ‘A2+’,” the company said in its BSE filing.