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What changed your markets while you were sleeping

Let’s check out what all might matter to Dalal Street all through the day.

ETMarkets.com|
Updated: May 04, 2018, 08.46 AM IST
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Funds managed by Fidelity International halved their holdings in PC Jeweller this week.
March quarter earnings are making global stock markets volatile, but there is also a lot of uncertainty over Karnataka elections, Iran nuclear deal ahead of May 12 deadline, US-China trade talks and domestic earnings. Will investors find directional cues on Friday?

Let’s check out what all might matter to Dalal Street all through the day:

Singapore trading sets stage for negative start
Nifty futures on the Singapore Stock Exchange were trading 34.50 points, or 0.32 per cent, lower at 10,672, indicating a negative start for the Nifty50.

SGX-Nifty-futures-snip

Weekly tech charts may give meaningful insights
The index may see profit booking in the extreme short term, but upward trend remains intact. The 10,600 level holds key, said analysts. Nifty is in the process to making a bearish or a 'Spinning Top' candle on the weekly chart. Friday’s movement could be meaningful to get the next course of action to decide the trend, Chandan Taparia of Motilal Oswal Securities said.

Asian shares mixed ahead of US payrolls data
Asian shares were steady while the Japanese yen held onto overnight gains in early trading on Friday as financial markets turned their attention to the looming US payrolls data for fresh catalysts, Reuters reoprted MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.05 percent. Australian shares were up a touch ahead of a Reserve Bank of Australia statement on monetary policy, while Japan's Nikkei stock index slid 0.16 per cent.

US stocks settle lower
The S&P 500 ended lower on Thursday after a choppy session as disappointing earnings reports from several companies offset strong economic data, Reuters reported. The Dow Jones Industrial Average rose 5.17 points, or 0.02 per cent, to 23,930.15. The S&P500 index lost 5.94 points, or 0.23 per cent, to 2,629.73 and the Nasdaq Composite index dropped 12.75 points, or 0.18 per cent, to 7,088.15.

Key Q4 earnings today
Ambuja Cements, Wockhardt, PVR, NIIT Technologies Subex, Nocil, Godrej Properties and Phillips Carbon Black will be among the companies scheduled to report their quarterly numbers during the day.

Bharti Airtel may sell 25% in Africa unit
Bharti Airtel plans to raise as much as $1.5 billion by diluting about a fourth of its stake when it lists the holding company for Africa operations, Bharti Airtel International (Netherlands) BV (BAIN BV), in early 2019. The money will help bolster the telco’s efforts to stay competitive in the Indian market, where Bharti has just declared its first quarterly loss in contrast with profits in Africa. Meanwhile, Global ratings agency Standard & Poor's revised down its outlook on the country's largest telco Bharti Airtel to “negative” from stable, following weak financial performance in FY18 and concerns on elevated capex in the current financial year.

DIIs sell Rs 578.92 cr worth of equities
Foreign portfolio investors (FPIs) sold Rs 148.42 crore worth of domestic stocks on Thursday, provisional data available with BSE suggested. DIIs were net sellers to the tune of Rs 578.92 crore, data suggested.

Fidelity further cuts PC Jeweller stake
Funds managed by Fidelity International halved their holdings in PC Jeweller this week, shedding more than two-thirds of their original stake in the New Delhi-based company that lost about 60 per cent of its market value in seven trading sessions until Wednesday. Direct and indirect subsidiaries of Fidelity and funds managed by the global asset manager sold another 3.53% (1.39 crore shares) on the stock market on Monday, cutting their stake to 3.51 per cent.

UBS Principal sells 5.4% stake in Fortis Healthcare
UBS Principal Capital Asia on Thursday offloaded 5.4 per cent stake in Fortis Healthcare for over Rs 443 crore through an open market transaction. According to bulk deal data available with the NSE, UBS shed a total of 2,82,31,975 shares, amounting to 5.4 per cent stake, of Fortis. The shares were sold at ?157 apiece, valuing the transaction at Rs 443.2 crore, the data showed.

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