SGX Nifty indicates a negative opening for Indian markets, NTPC, RIL in news today and more

Opening Bell:

SGX Nifty is down by 24.5 points in the early morning trade, indicating a negative opening for Indian stock market.

Asian shares fell at open Wednesday after US equities closed lower, rounding out a turbulent month that saw global stocks drop about 3%. The Japanese Nikkei is down by 0.05 percent. Hong Kong’s Hang Seng is up by 2.37 percent and South Korea’s Kospi is up by 0.42 percent in early morning deals.

US stocks edged down Tuesday after a positive start to the week, as traders weigh lingering concerns over the Federal Reserve’s future policy direction. The S&P 500 lost 0.30 percent and Nasdaq Composite declined by 0.10 percent respectively.

Stocks News:

?NTPC said it has completed the transfer of 15 renewable energy assets to NTPC Green Energy Limited, a wholly owned subsidiary of the company, through a business transfer agreement, executed in July 2022.

?Reliance Industries has incorporated a wholly owned subsidiary named Reliance SOU Ltd to carry on the business of development of properties for commercial use and invested Rs 1 lakh in the equity shares of the subsidiary.

?Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) for Apixaban Tablets. Apixaban blocks the activity of certain clotting substances in the blood.

?State Bank of India (SBI) has concluded $1 billion through Syndicated Social Loan. This is the first social loan raised by the bank ever.

?Foreign portfolio investors (FPIs) have net sold shares worth Rs 4,559 crore on Tuesday. DIIs, on the other hand, bought shares worth Rs 4,609 crore.

Domestic and International Events

• The core sector growth in January came in at 7.8 percent, which is up from a 7 percent growth recorded in December, as per the data released by the Ministry of Commerce & Industry on February 28. A sharp surge in the output of three segments – coal, fertiliser and electricity – aided the higher growth in January, the data showed.
• The central government’s fiscal deficit for the first 10 months of 2022-23 widened to Rs 11.91 lakh crore, data released on February 28 by the Controller General of Accounts showed. At Rs 11.91 lakh crore, the fiscal deficit for April 2022-January 2023 accounts for 67.8 percent of the full-year target for 2022-23.
• Oil prices rose nearly 2 percent on Tuesday, erasing the previous session’s losses, as hopes for a strong economic rebound in China offset worries about US interest rate hikes dragging down consumption in the world’s biggest economy.
• Japan’s factory activity shrank in February at the fastest pace in over two years, a private survey showed, highlighting companies’ struggles amid a global economic slowdown, raw material inflation and policymakers’ calls for higher wages.

Key Equity Indices