Nifty to open below 15,000 amidst weak global cues
March 05, 2021
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Most Asia-Pacific markets slumped in excess of 1% in early trade on Friday while US stocks declined overnight
The Indian markets are likely to open sharply lower on Friday, due to weak global cues and on profit booking. Cues from SGX Nifty suggest that Nifty is most likely to open below 15,000-mark. The SGX Nifty is hovering around 14,880, a decline of about 220 points, against the Nifty futures that on Thursday closed at 15,106.
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, said: “We witnessed a sharp decline (on Thursday) in our market mainly due to the sudden jump in the long-term bond yields of the US. The steady growth in the economy leads to a steady rise in the bond yields and therefore, the market should start offering discounts in the medium to long term.”
For redevelopment and monetization of land at Maddilapalem, VisakhapatnamNBCC (India) has executed a MoU with Rashtriya Ispat Nigam
(RINL) for redevelopment and monetization of 22.19 acres of Land
Parcels at Maddilapalem, Visakhapatnam on 26 February 2021 on self sustainable model.
NBCC shall be paid Project Management Consultancy (PMC) fee @7% of the
estimated/approved project cost or actual project cost (whichever is lower).
NBCC shall also be paid Project Marketing fee @1% of actual sale proceeds on
account of expenditure towards appointment of real estate consultant, publicity,
marketing, sale etc of commercial and residential spaces.
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