Before the trading day begins, learn about the number of factors that may influence share prices and the trading climate in stock markets.
Important developments across the globe, current situation of global markets, sentiments, and the overall news related to stocks or companies are some of the key indicators that you need to consider before investing in the stock market.
Also, the views of brokerages on select stocks and buy/hold/sell recommendations with target prices play a significant role in determining how the markets are going to perform.
Here are some of the factors that may affect the stock market today.
*SGX Nifty indicates a flat start.
*Dollar index hits a near 2-year record at 98.322. It’s the highest since May 16, 2017. Dollar Index has risen 2.3% for 2019.
*Asian markets open lower in trade. Japan is set to begin a 10-day holiday from April 27 to May 6.
*Dow falls more than 100 point. 3M suffers biggest drop in more than 30 years. S&P 500 and Nasdaq Composite fared better than Dow. S&P 500 ended the day marginally lower. Nasdaq rose 0.2% and hit an intraday record.
*European markets close lower amid earnings. The pan-European Stoxx 600 ended down around 0.24%.
*Deutsche Bank and Commerzbank merger talks collapse
* US crude stocks hit 460.63 million barrels, a high going back to October 2017. WTI settled 68 cents lower at $65.21 per barrel. Brent fell 22 cents at $74.35, breaking a four-day winning streak. US’s attempts to drive Iranian oil exports down to zero also boosted prices. India and China are looking at sourcing oil jointly.
Stocks in news and brokerages for select stocks that are likely to affect the day’s trading.
Raymond: Gautam Singhania steps down as chairman of a subsidiary company. Ravi Uppal appointed as non-executive chairman of 2 arms.
L&T Finance Holdings: PE firm Apis to acquire 25.1% stake in L&T Infra debt fund for $110mn. L&T IDF is a unit of L&T Fin Holdings. Investment will help L&T IDF grow its loan book across renewable energy, roads, airports and ports.
Jet Airways: Boeing removed Jet Airways order for 200 units of 737 Max, 10 units of 787s. Contractual agreements with Jet Airways remain in place. Removed Jet Airways orders valued at $25 bn. Jet asks government to protect its foreign traffic rights. It also asked Union Aviation Ministry to not release its international traffic rights to rival carriers.
RIL: Reliance Jio buys back bonds worth Rs 800-1,000 crore. Buyback was conducted over past 5-7 days.
Manappuram Finance: Company looks to bring in PE investment in Asirvad Microfin. It is in talks with PE players to raise $100mn. It has also appointed Credit Suisse to look for investors.
Kotak Mahindra Bank: Unit to sell its entire 19.8% stake in Matrix Business Services for Rs 10.3 crore.
HCL Tech: HCL Tech expands US operations with new cybersecurity centre.
Bank Of Baroda: Board approved issuance of equity shares of Rs 5,042 crore to government on preferential basis.
UBS on Axis Bank: Maintain Buy, Target at Rs 1,010/share.
DB on Maruti: Maintain Hold, Target at Rs 6,450/share.
CLSA on Maruti: Maintain Buy, Target at Rs 8,000/share.
Citi on Aurobindo: Maintain Buy , Target at Rs 1,000/share.
CLSA on Tata Steel: Maintain Sell, Target at Rs 395/share.
Investec on Tata Steel: Maintain Buy; hike target price to Rs 800 from Rs 750.
HSBC on Hindustan Unilever: Maintain Buy; hike target price to Rs 2,010 from Rs 1,940.
Edelweiss on Natco Pharma: Maintain Buy; cut target price to Rs 625 from Rs 800.
UBS on SBI Life Insurance: Maintain Buy with target price of Rs 740.