Nifty futures traded at 9,396 on the Singaporean Exchange, with 30 points or 0.32 per cent loss, suggesting a gap-down opening for BSE Sensex and Nifty 50 on Friday. Along with US-China trade tension, corporate earnings and developments around coronavirus and vaccine, market participants will focus on GDP data for the January-March quarter. The number will include the figures for one week of lockdown, which will drag the overall growth figure down. “Traders should look to use declines to go long and ideally the stock centric approach would fetch better trading opportunities as well as the higher potential gains,” said Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking).
Stocks in focus today
- Last day for buying, selling RIL-Rights Entitlement, shares surge 48% from May 20; should you buy today?
- Stocks in focus: Lupin, TVS Motor, United Spirits, Adani Power, among others to remain in action
- Stocks in focus: RIL, Bharti Airtel, Sun Pharma, Titan, United Spirits among others to remain in news
Vodafone Idea: Alphabet Inc’s Google is considering to pick a 5 per cent stake in Vodafone-Idea, which is a joint venture between United Kingdom-based Vodafone and India’s Aditya Birla Group, the Financial Times reported. Any investment by Google in Vodafone Idea at this stage will boost the company’s financials and its ability to survive in the market.
Reliance Industries: Today is the last day for trading in India’s biggest-ever rights issue RIL-RE. Apart from this, Abu Dhabi-based sovereign investor Mubadala Investment Company is in discussions to invest in Reliance Industries’ digital unit Jio Platforms.
Voltas, Dilip Buildcon: Everest Industries, Jagran Prakashan, KEC, Lemon Tree, Shipping Corporation of India, Equitas Holdings, Jubilant Life Sciences, Procter & Gamble Healthcare, Voltas, Dilip Buildcon, V-Mart Retail, Symphony and 3M India are among 31 companies which are scheduled to announce their March quarter earnings today.