Indian benchmark indices recovered some of their losses but still settled deep in the red on Friday, led by muted sentiment in the global markets awaiting data that would provide more clarity on when the Federal Reserve could start cutting rates.
On March 15, the BSE Sensex fell 454 points or 0.62 per cent to settle at 72,643.43 and the NSE Nifty fell 123 points or 0.56 per cent to close at 22,023.35.
On a weekly basis, the benchmark indices snapped their four-week rally and recorded their worst week in more than four months. All sectoral indices ended the week in losses except IT sector.
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“The week ahead, the global central bank’s monetary policy decision will get investors’ attention. The US FED, BOJ, and BOE will unveil their rate decisions. There is uncertainty over FED rate cuts due to an increase in the US unemployment rate and higher than expected US inflation. Consequently, the US 10-year yield and dollar index inched higher, and the repercussions were visible in the emerging markets as well," said Vinod Nair, Head of Research, Geojit Financial Services.
Here Are The Key Stocks To Watch On 18 March:
Life Insurance Corporation of India
The insurance major has received government approval for a wage revision of its more than 1.10 lakh employees. The government has given nod to a 17 per cent increase in the wage bill.
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Zomato
The online food delivery platform has received an order for FY2018-19 pursuant to the audit of GST returns and accounts by the Deputy Commissioner of State Tax, Gujarat raising the GST demand of Rs 4,11,68,604, along with applicable interest and penalty totalling Rs 8,57,77,696.
IRCON International
The company has received the Letter of Award from the National Highways & Infrastructure Development Corporation (NHIDCL/0 for development of a 2.5km twin-tube uni-directional Aizawl bypass tunnel and its approaches of 2.1 km on the Sairang-Phaiawk section of the NH-6 in Mizoram in EPC mode at a quoted bid price of Rs 630.66 crore.
Aditya Birla Fashion and Retail
The company has received no-objection observation letters from the BSE and the National Stock Exchange regarding the merger between Aditya Birla Fashion and TCNS Clothing. The merger is now subject to the approval of National Company Law Tribunal.
Torrent Power
The company has received a letter of award from Torrent Power’s distribution unit for construction of 300 MW renewable energy power grid-connected wind and solar hybrid projects. The tariff has been fixed at Rs 3.65 per kWh. The contract period will be 25 years from the commissioning of the project.
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