scorecardresearchStocks To Watch: Lupin, PNB, SBI, Allcargo Logistics

Stocks To Watch: Lupin, PNB, SBI, Allcargo Logistics

Updated: 25 Nov 2022, 08:12 AM IST
TL;DR.
India's NSE stock futures listed on the Singapore exchange were down 0.29% at 18,615.50 as of 0148 GMT.
During the day, the Sensex hit a new high of 62,412.33, while the Nifty was just a few points away from its record high of 18,604.45 (Mint)

During the day, the Sensex hit a new high of 62,412.33, while the Nifty was just a few points away from its record high of 18,604.45 (Mint)

(Reuters) - Indian stocks are set to open a tad lower on Friday after the benchmarks closed at record highs in the previous session, with investors digesting conflicting signals from global central banks on the interest rate environment.

India's NSE stock futures listed on the Singapore exchange were down 0.29% at 18,615.50 as of 0148 GMT.

Asian markets were mixed, with the MSCI Asia ex-Japan index losing 0.42%.

The European Central Bank's equivalent of Federal Reserve rate-setting committee's minutes that came out on Thursday showed that the room for slowing down the pace of interest rate adjustments remained limited, in contrast to the U.S. central bank's assessment.

U.S. markets were shut for thanksgiving on Thursday, while the dollar slid towards a three-month low.

The benchmark S&P BSE Sensex closed at a new record of 62,272.58, while the NSE Nifty 50 index advanced 0.19% to 18,484.1, powered by rally in shares of IT companies and banks.

Foreign institutional investors snapped a three-day selling streak, and bought a net 12.32 billion Indian rupees ($151 million) worth of equities on Thursday, while domestic investors sold a net 2.36 billion rupees ($4.41 million) worth of shares, per provisional NSE data.

Stocks To Watch:

** Lupin: U.S. FDA issued Form-483 with eight observations for the drug product facility and API facility at the company's Mandideep unit-1.

** Punjab National Bank: The Indian government approved a plan to divest the bank's 15.22% stake in UTI Asset Management Co.

** State Bank of India: The bank will, its board meeting on Nov. 29, consider raising 100 billion rupees.

** Allcargo Logistics: The company's unit, Allcargo Belgium NV, entered into a deal to buy a 75% stake in Fair Trade Gmb Schiffahrt, Handel and Logistik for 12 million euros (1.02 billion rupees). ($1 = 81.6130 Indian rupees) (Reporting by Bharath Rajeswaran in Bengaluru and Akansha Victor; Editing by Savio D'Souza)

First Published: 25 Nov 2022, 08:12 AM IST