Market Beeps - Market seen opening negative; Reliance Industries in focus
UAE Exchange Etrade
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Markets are expected to open on a negative note tracking weak Asian shares. Global risk appetite was frail on rising concerns over pace of global growth recovery.
Asian shares traded negative in opening deals after weak China’s GDP data fueled worries about the strength of the global economy.
Overnight, US stocks dropped after data in China and the US added to a spate of recent indications the global economy may be slowing.
The Dow Jones industrial average was down 129.49 points, or 0.87 per cent, at 14,735.57. The Standard & Poor's 500 Index was down 17.39 points, or 1.09 per cent, at 1,571.46. The Nasdaq Composite Index was down 45.08 points, or 1.37 per cent, at 3,249.86.
Stocks in News:
State-run Bharat Petroleum Corporation Ltd (BPCL) will spend Rs 32,500 crore to expand its refining capacity from the current 30.5 million tonnes (mt) to 47.5 mt in the next three-four years.
Tata Power may move after the apex power sector regulator on Monday passed a landmark order extending relief in the form of a “compensatory tariff" to Tata Power for sale of electricity from its 4,000-Megawatt (Mw) Mundra ultra mega power project in Gujarat.
State-owned ONGC Limited has approached Ministry of Environment and Forest (MoEF) for the permission to drill 24 development wells and to establish production facility in Krishna-Godavari basin, a top official said Monday.
Market Beeps of the day attached.