On March 13, the benchmark Sensex and Nifty indexes are probably going to open higher because the GIFT Nifty’s trends hint to a positive start for the overall index, which has gained 27.50 points.
GIFT Nifty
The GIFT Nifty, which gained 27.50 points, or 0.12 percent, suggests that the Indian stock market is off to a good start. The 22,466.50 level was the trading range for the Nifty futures.
US Markets Oracle shares climbed and consumer price data failed to depress investors’ anticipation of interest rate reduction in the upcoming months, leading US equities to close significantly higher on Tuesday, with the S&P 500 setting a record high.
BAT offers shares at a 5% discount and plans to sell its 3.5% ITC interest for Rs 16,775 crore.
In order to raise as much as Rs 16,775 crore, British American Tobacco has initiated a block transaction to sell institutional investors a 3.5 percent equity holding in India’s ITC Ltd.
According to CNBC Awaaz, which cited sources, the British tobacco maker’s India unit intends to sell up to 43.69 crore ITC shares via rapid book building at a price per share of Rs 384–400.25.
The single-largest shareholder in ITC will own less of the company after a block trade share sale, down from almost 29 percent to roughly 25.5%. BAT has a 180-day window within which to sell any more ITC shares.
In order to make up for the delayed dividend payment, the market regulator has ordered Vedanta India, formerly known as Cairn India Ltd, to pay Cairn UK Holdings Limited (CUHL) Rs 77.62 crore plus simple interest at the rate of 18% annually.
India’s IIP growth in January was 3.8% as opposed to 4.2% in December.
According to data issued by the Ministry of Statistics and Programme Implementation on March 12, the growth rate of India’s industrial output slowed to 3.8 percent in January.
The most recent industrial growth rate according to the Index of Industrial Production (IIP) is 3.8 percent, which is the same as the December 2023 figure of 3.8 percent. The statistics ministry amended that figure to 4.2 percent on March 12. This was anticipated after the core sector growth for December was raised up by the trade ministry to 4.9 percent from 3.8 percent.
February CPI inflation in India was 5.09%, but core inflation decreased to 3.3%.
According to data provided by the Ministry of Statistics and Programme Implementation on March 12, India’s headline retail inflation rate remained relatively stable at 5.09 percent in February.
In January, the Consumer Price Index (CPI) showed an inflation rate of 5.10 percent.
The most recent headline retail inflation rate of 5.09 percent is in line with predictions; according to a Moneycontrol survey, economists had estimated that prices would have increased by 5.1 percent on an annual basis.
Unrefined
On Wednesday, oil prices increased due to forecasts of robust global demand, which included the United States, the world’s largest consumer, and the fact that even relatively sticky U.S. inflation did not dampen expectations that the Fed may begin reducing rates soon.
Data from FII and DII
On March 12, provisional data from the NSE revealed that domestic institutional investors (DIIs) bought stocks worth Rs 2,358.18 crore, while foreign institutional investors (FIIs) net bought shares worth Rs 73.12 crore.
NSE stock is prohibited from F&O
The NSE has maintained Aditya Birla Fashion & Retail, Hindustan Copper, Manappuram Finance, Mahanagar Gas, SAIL, Tata Chemicals, and Zee Entertainment Enterprises on the F&O ban list for March 13, but has added National Aluminium Company and Piramal Enterprises.utilizing information from Reuters and other sources