Singapore Telecommunications, commonly known as Singtel, is likely to sell Bharti Airtel shares worth $1 billion through block deal, reported CNBC-Awaaz on May 15 citing sources.
Floor price for the deal has been fixed at Rs 1,800 per share, the channel reported.
Singtel is looking to sell 4.76 crore shares, added CNBC-TV18. JPMorgan is likely to be the broker for the deal.
The floor price represents 3.3% discount to the current market price of the Bharti Airtel stock.
The Nifty 50 is expected to advance toward the 25,200–25,300 zone in the upcoming sessions, followed by the 25,500–25,700 range as the next potential target. On the downside, support is placed at 24,860 (the December 2024 swing high), followed by 24,500 as a crucial support level, according to experts….Read More
On the weekly expiry day, the market witnessed significant volatility marked by sharp swings on either side. Following a subdued opening, Nifty50 initially declined but soon recovered; however, it struggled to sustain the gains and faced another round of selling pressure. Mid-session saw a sudden surge in heavyweight stocks, which pushed the Index beyond the psychological mark of 25,000. By the end of the day, Nifty50 closed the trade at 25,062.10 with gains of 395.20 points.
All sectors ended in the green, with Auto and Realty emerging as the top performers. The rally was largely driven by Index-heavyweight stocks, resulting in underperformance from the Midcap and Smallcap segments.
Technically, the Index formed a strong bullish candle and decisively breached its immediate resistance of 24,930, which now turns into a key support level. On the upside, the next resistance is seen near 25,200.
The dollar fell in tandem with U.S. Treasury yields on Friday after downside surprises on U.S. economic data this week cemented bets of more Federal Reserve rate cuts this year.
The euro was up 0.1% to $1.1197 while sterling steadied at $1.3309.
Against a basket of currencies, the dollar fell 0.1% to 100.70, though was on track for a marginal weekly gain of 0.3% thanks to its sharp 1.3% rise on Monday.
The Foreign institutional investors (FIIs) extended buying on the second day as they bought equities worth Rs 5392 crore on May 15, while Domestic institutional investors (DIIs) sold equities of Rs 1,668 crore on the same day, as they turned net sellers after four days of buying….Read More
Oil prices edged up on Friday following a sharp drop in the previous session, heading for a weekly gain of more than 1% as U.S.-China trade optimism outweighed the prospects of Iranian supply returning to the market.
Brent crude futures rose 17 cents, or 0.26%, to $64.70 a barrel. U.S. West Texas Intermediate crude futures rose 18 cents, or 0.29%, to $61.80.
Asian equities and US futures inched lower Friday as the week’s rally in global stocks steadied. Treasuries clung to a Thursday rally as traders priced in two Federal Reserve rate cuts this year.
Trends on GIFT Nifty indicate a positive start for the broader index in India, with a gain of 93.5 points or 0.37 percent. The Nifty futures were trading around 25,173.50 level.
Wall Street stocks ended mixed on Thursday, with gains in Cisco Systems following an upbeat forecast, while UnitedHealth tumbled after a report of a criminal investigation into the insurer.
The S&P 500 has more than recovered from a deep selloff in April triggered by U.S. President Donald Trump’s global trade war, as investors bet Washington will reach deals to roll back steep tariffs that economists worry will drive up consumer prices.
The S&P 500 climbed 0.41% to end at 5,916.93 points.
The Nasdaq declined 0.18% to 19,112.32 points, while the Dow Jones Industrial Average rose 0.65% to 42,322.75 points.
Of the 11 S&P 500 sector indexes, eight rose, led by utilities, up 2.1%, followed by a 2% gain in consumer staples.
The S&P 500 remains about 4% below its record high close on February 19.
Benchmark indices surged mid-day on strong buying interest that saw Nifty surpass 25,000 level for the first time since October 17, 2024 during a session of across-the-board buying.
The Sensex was up 1,200.18 points or 1.48 percent at 82,530.74, and the Nifty was up 395.20 points or 1.60 percent at 25,062.10. The BSE midcap index added 0.6 percent while the smallcap index rose 0.9 percent. All the sectoral indices ended in the green with realty, oil & gas, metal, media, IT, auto, bank up 1-2 percent.
The biggest gainers on the Nifty were Hero MotoCorp, JSW Steel, Trent, Tata Motors, HCL Technologies.
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