Is there an investment opportunity in PSP Projects shares?
Is this the right time to invest in the shares of PSP Projects, a company that does construction work for the government and corporate India? How much benefit will there be from investing in this stock? What targets are experts giving regarding this stock? Watch this video to know-
Indian indices may witness a weak start on Friday as trading resumes after a local holiday. Weak global cues may play the spoilsport. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 220 points at the opening bell. Overseas, Asian stocks fell Friday as the fast-spreading delta virus strain stoked concerns about economic growth and China’s regulatory curbs sapped sentiment. China’s one-year loan prime rate (LPR) and five-year LPR were both left unchanged at 3.85% and 4.65%, respectively, on Friday. US Stock markets ended mixed on Thursday as gains in technology shares were countered by selling in cyclical sectors.
The number of people seeking unemployment benefits fell last week for a fourth straight time to a pandemic low. The Labor Department reported Thursday that jobless claims fell by 29,000 to 348,000.
Domestic markets: Back home, the Indian markets were closed on Thursday on account of Muharram. Key indices ended a volatile trading session with small losses on Wednesday. The barometer index, the S&P BSE Sensex, slipped 162.78 points or 0.29% to settle at 55,629.49. The Nifty 50 index declined 45.75 points or 0.28% to end at 16,568.85. Foreign portfolio investors (FPIs) sold shares worth Rs 595.32 crore, while domestic institutional investors (DIIs), were also net sellers to the tune of Rs 729.49 crore in the Indian equity market on 18 August, provisional data showed.
Crude oil: Crude oil futures ended lower for a sixth straight session on Thursday, as worries about the outlook for energy demand after data showing a surprise build in gasoline inventories and continued spikes in coronavirus cases hurt the commodity. A stronger dollar amid rising prospects of tighter monetary measures from the Federal Reserve also weighed on crude oil prices. Data released by Energy Information Administration (EIA) showed gasoline stockpiles unexpectedly increased by 700,000 barrels last week, the first increase in more than a month as a result of an increase in coronavirus cases worldwide.
Crude oil futures for September fell $1.77 or 2.7% to settle $63.60 barrel on the New York Mercantile Exchange. October Brent crude dropped 1.38 or 2.01% to settle at $66.85 a barrel on London’s Intercontinental Exchange.