Markets rebound as global equities shine; Sensex up 200 points

Markets have opened the session on a firm note mirroring strength in the Asian equities and a strong close on the Wall Street. However, caution is likely to prevail over the likelihood of Britain leaving the European Union. 
the S&P BSE Sensex gained 186 points to quote at 26,711 and the Nifty50 rose 50 points to trade at 8,191.

GLOBAL MARKET

Asian shares rose on Friday, but remained on track for weekly losses in a week dominated by fears that British voters will opt to leave the European Union in next week's referendum.

Wall Street marked gains overnight, with the benchmark S&P 500 index .SPX erasing sharp losses to snap a five-day losing streak.

Japan's Nikkei stock index .N225 gained 1.7%, taking back some of its steep losses. But Japanese shares were still poised to shed more than 5 percent for a week in which the perceived safe-haven yen soared after the Bank of Japan opted to stay the course on policy instead of mustering additional stimulus in the face of risks from waning inflation and weak global growth.

STOCKS

IOC is likely to take the largest 37.5% stake in the proposed joint venture to manage fuelling facilities at all airports controlled by the Airports Authority of India (AAI) according to media sources. The stock gained 0.6%.

Software major Wipro on Thursday gave a petition to the inter-ministerial Board of Approval here to set up a Special Economic Zone for information technology and IT-enabled services in the Rajarhat area near here. Wipro is up 0.4%.

To support start-ups in the financial technology (fintech) space, State Bank of India has set up a Rs 200-crore fund. The stock has climbed 0.5%.

NTPC plans to add 2,500-MW of conventional capacity and at least an equal amount of renewable plants every year, Chairman and Managing Director Gurdeep Singh said. The stock has gained 0.7%.

                                    
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