The expectations of a 50 basis points (bps) increase in the federal funds target rate at the upcoming Fed meeting have now risen above 70%. Asian markets fell on Friday, with the MSCI's broadest index of Asia-Pacific shares outside Japan losing 1.60%. Indian shares posted their biggest one-day drop in over two weeks on Thursday, snapping a three-session winning streak. The Nifty 50 has remained little changed so far in this week. Indian equities are likely to remain rangebound ahead of the Fed's policy decision, three analysts said.
Foreign institutional investors (FII) snapped their four-session buying streak and offloaded a net 5.62 billion rupees ($68.49 million) of equities on Thursday.
STOCKS TO WATCH
** IRB Infrastructure : Co reports 27% Y/Y rise in
toll collection to 3.52 billion rupees in February.
** NBCC : Co receives 2.3 billion rupees work order
to build a new campus for Indian Institute of Foreign Trade.
** Dredging Corporation : Co wins 640 million
rupees annual maintenance dredging contract from Southern Naval
Command Kochi, for FY23.
** PNC Infratech : Co declared lowest bidder for
two highway projects of 20.04 billion rupees.
** PSP Projects : Co receives 1.23 billion rupees
of work orders for two projects in Ahmedabad, Gujarat.
** Zydus Lifesciences : Co gets final approval from
U.S. drug regulator for Erythromycin tablets.
($1 = 82.0580 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by
Dhanya Ann Thoppil)
