Before the trading day begins, learn about the number of factors that may influence share prices and the trading climate in stock markets.
Important developments across the globe, current situation of global markets, sentiments, and the overall news related to stocks or companies are some of the key indicators that you need to consider before investing in the stock market.
Also, the views of brokerages on select stocks and buy/hold/sell recommendations with target prices play a significant role in determining how the markets are going to perform.
Here are some of the factors that may affect the stock market today.
* US stocks closed largely flat after a range bound session as investors await Fed rate cut decision.
* EU stocks closed higher ahead of trade talks and the Fed meeting. EU markets saw a positive reaction to a series of potential mergers.
* LSE Group stock climbed 15% while Blackstone Group is expected to announce the merger of its financial data firm. Heineken half-year profit missed expectations on higher costs.
* Brent Crude and WTI Crude prices gained nearly 0.5% each.
Asian stocks edged up on Tuesday as equity investors prepared for an expected U.S. interest rate cut. Nikkei traded higher with index heavyweight Fanuc seeing strong gains. Investors will be watching for the Bank of Japan's monetary policy changes.
STOCKS IN NEWS
Zee Entertainment: The Comcast-led group has submitted a binding offer to buy out promoter’s stake. The consortium also includes Atairos, Blackstone and Lupa Systems. The deal is likely to trigger open offer for an additional 26% stake. At current market price, the promoters’ stake is worth Rs 13,315 crore. Observers expect a 15-20% control premium over the market value.
DRL: Erez Israeli has been elevated to the position of CEO. He had joined DRL as COO in April 2018. GV Prasad has been re-designated as the Co-Chairman.
BEML: The company commenced production of Metro Cars at its Bangalore facility. BEML had previously bagged order worth Rs 3,015 crore from MMRDA.
Strides Pharma: The firm enters into a joint venture with Sihuan Pharma. The JV fast-tracks Strides’ entry into China. Sihuan is one of the leading players in China’s prescription drug market with a market share of 8.3% in the cardio-cerebral vascular market. Strides will immediately license four high potential products to the JV. Strides will supply to the JV from its facilities at India and Singapore. The transaction is likely to be included by end of September 2019.
Coal India: Government sells 1.7% stake via CPSE ETF FFO 5. Government holding in the company stood at 69.26% after the deal.
Indian Overseas Bank: Government increased authorised capital of bank to Rs 15,000 crore from Rs 10,000 crore.
IOC: The company made alternate arrangements for Iran oil. It aims 7 mn tn/year output share by FY24 from stake in fields.
Credit Suisse maintains ‘Underperform’; target price at Rs 2,415/share.
BOFA-ML maintains ‘Buy’; target price at Rs 3,052.
Morgan Stanley maintains ‘Equal-Weight’; target price at Rs 2,804.
CLSA maintains ‘Buy’; target price at Rs 3,330.
CLSA retains ‘Sell’; raises target price to Rs 390 from Rs 385.
Citi maintains ‘Buy’; target price at Rs 670.
JP Morgan maintains ‘Overweight’; target price at Rs 1,660.
Jefferies maintains ‘Buy’; target price at Rs 1,260.
Credit Suisse maintains ‘Outperform’ target price at Rs 660.
Credit Suisse maintains ‘Outperform’; target price at Rs 212.
BofA Securities upgrades to ‘Buy’ from ‘Neutral’; hikes target price to Rs 400 from Rs 360.
Citi maintains ‘Neutral’; cuts target price to Rs 10.5 from Rs 16.