Stock Market Live on Friday, May 3: The benchmark indices Sensex and Nifty50 are looking for a strong headstart on Friday tracking global peers. The Gift Nifty futures also suggested a gap-up start as they stood 119 points higher versus the Nifty 50 futures at 22,892 levels.
In Asia-Pacific markets tracked Wall Street’s upward trajectory, buoyed by anticipation of crucial US employment data.
South Korea’s Kospi climbed by 0.39 per cent, and the smaller-cap Kosdaq advanced by 0.52 per cent. Hong Kong’s Hang Seng index shot up by 1.56 per cent.
Meanwhile, markets in Japan and mainland China were closed for public holidays. In Australia, the S&P/ASX 200 index rose by 0.42 per cent.
On Wall Street, the Dow Jones Industrial Average surged by 0.85 per cent, while the S&P 500 and the Nasdaq Composite gained 0.91 per cent and 1.51 per cent, respectively.
Brent crude, too, inched up by 0.44 per cent to $84.04 per bbl.
Stocks to watch:
Coforge: Noida-based IT company Coforge reported a 94.8 per cent year-on-year increase in net profit to Rs 223.7 crore for the March quarter, on the back of revenue of Rs 2,358.5 crore, up 8.7 per cent from the same period last year. The board also approved the acquisition of a 54 per cent stake in Cigniti Technologies at a per share price of Rs 1,415.
Bajaj Finance: The Reserve Bank of India has removed restrictions on the company’s eCOM and online digital Insta EMI Card products effective immediately.
Adani Energy: In a deal with Windson Project, the company is set to acquire Pointleap Projects for Rs 13.15 crore.
Max Estates: The company’s subsidiary has entered into an agreement for a residential development project in Gurugram, with a Gross Development Value (GDV) potential exceeding Rs 9,000 crore.
