Sensex, Nifty to open after 4 days, 6 things you need to know before Dalal street begins trade

Currency and equity market would open after four days while the global stocks witnessed many changes, the Nifty ended the March series on quite a dull note. 

The Nifty future closed the March series with the loss of 2.6 per cent. 

 The BSE Sensex slumped 206 points in see-saw trade today to close below the 33,000-mark on the last trading session of 2017-18 but finished the fiscal with a gain of 11.30 per cent.

Besides weak global cues, squaring-up of bets by investors due to end of March month expiry in the derivatives segment halted its two-session winning run, brokers said.

On the macro front, official data showed India's fiscal deficit soared to Rs 7.15 lakh crore at the end of February, exceeding the revised target for the full fiscal.

The broader 50-share index Nifty also ended 70 points lower at 10,113.70.

The flagship Sensex has gained 3,348.18 points, or 11.30 per cent, during 2017-18. The index had gained 16.88 per cent in the previous fiscal.

While, investors would closely watching the today's trade, below we have listed out five important things you should know before the trading starts. 

1. Asia stocks start new quarter on front foot, dollar steady

Asian stocks began the new quarter on Monday with mild gains following a strong performance by global equities last week, while the dollar held steady ahead of key economic indicators.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent.

South Korea's KOSPI gained 0.6 per cent and Japan's Nikkei advanced 0.55 per cent. Hong Kong's Hang Seng added 0.25 per cent and Shanghai was up 0.4 per cent.

2. European reinsurers accuse India of protectionism

European reinsurers have accused India of regulating to protect the domestic industry and holding back rivals from seeking to penetrate the world's fastest-growing reinsurance market, a charge summarily rejected by state-run reinsurer General Insurance Corporation (GIC).

Insurance Europe, a European reinsurance federation, has highlighted a range of regulatory and market access issues that European (re)insurance companies encounter in India, and trained their gun on state-run reinsurer GIC.
Reinsurance is a process where the insurance companies protect themselves against major claims.

3. CBI may call ICICI Bank officers for questioning

 The Central Bureau of Investigation (CBI) has initiated a preliminary inquiry (PE) against officials from the ICICI bank, days after a whistleblower blew the lid on an alleged quid pro quo with Indian multi-national Videocon in lieu of a loan to the tune of Rs 3,250 crore. 

The PE seeks to examine the alleged nexus between Deepak Kocchar — husband of Chanda Kocchar — the CEO and MD of ICICI, and Venugopal Dhoot, chairman of the Videocon group and may summon the key players for questioning. Probe officials are also examining documents of the transaction to determine a trail to indicate any wrongdoing after it emerged that Chanda Kochhar was part of the credit committee that granted Dhoot’s Videocon Rs 40,000 crore loan led by a consortium of 20 banks. 

4. Petrol price hits 4-year high at Rs 73.73, diesel at highest level
Petrol price hit a four-year high of Rs 73.73 a litre while diesel rates touched an all-time high of Rs 64.58 in the national capital, renewing calls for the government to cut excise tax rates.

State-owned oil firms, which have been since June last year revising auto fuel prices daily, today raised petrol and diesel rates by 18 paise per litre each in Delhi, according to a price notification.

Petrol in the national capital now costs Rs 73.73 a litre, the highest since September 14, 2014 when rates had hit Rs 76.06. Diesel price at Rs 64.58 is the highest ever, with previous high of Rs 64.22 being on February 7, 2018.

5. Indian firms raise Rs 84,357 crore via IPOs in FY18
Indian companies garnered Rs 84,357 crore through initial share sales in 2017-18, registering a nearly three-fold jump compared to the preceding fiscal, claimed a report.

According to the study by PRIME Database, the amount raised by firms through the initial public offer (IPO) route stood at Rs 29,050 crore during 2016-17.

"2017-18 was the best year ever for the IPO market by far, the previous high being in 2007-08 when Rs 41,323 crore was raised, less than half of the amount raised in 2017-18," said Pranav Haldea, Managing Director, PRIME Database.

6. Sebi comes out with consultation paper on share buyback

Markets regulator Sebi on Wednesday came out with a consultation paper on share buybacks and takeovers, including allowing companies more time to raise open offer price.

A firm may buy back shares and other securities on a proportionate basis through tender offer, open market -- via book building process and stock exchange and odd-lot holders.

This would be applicable provided that no offer of buyback for 15 per cent of the paid up capital and free reserves of the firm will be made from the open markets.