Business Standard

HDFC Bank inches up after good Q2 outcome

Capital Market 

A bout of volatility was witnessed as key indices regained positive zone after slipping into the red from green in afternoon trade. The intraday recovery for key indices materialised as European stocks reversed initial losses and as US index futures trimmed losses. The barometer index, the S&P Sensex, was currently up 53.66 points or 0.2% at 26,483.51. The market breadth indicating the overall health of the market was positive.

Meanwhile, the Narendra Modi government yesterday, 20 October 2014, announced that it will auction 74 coal-mining licenses to private companies in the next three to four months after the Supreme Court last month canceled 214 coal licenses issued to private and public companies since 1993. The move came after the government freed diesel from price controls and increased natural-gas tariffs over the weekend to curb subsidies and cut the fiscal deficit.

Bank edged higher in volatile trade after reporting good Q2 results. edged lower in choppy trade after strong Q2 numbers. Cadila Healthcare rose after the company issued clarification with regard to a news item. PSU OMCs declined after yesterday's rally triggered by the government announcing diesel price decontrol at the weekend. Shares of gas production and exploration firms also declined. FMCG stocks advanced.

Earlier, key indices had reversed intraday gains in afternoon trade. Before that the benchmark indices had extended initial gains in morning trade that took the and the 50-unit CNX Nifty to their highest level in almost two weeks.

In overseas markets, European stocks reversed initial losses as investors weighed corporate earnings reports. Asian stocks dropped after the latest data showed that China's gross domestic product (GDP) rose 7.3% year-over-year in Q3 September 2014, marking its slowest pace of growth in five years.

In the foreign exchange market, the rupee edged higher against the dollar.

Brent crude prices edged higher after a mixed bag of Chinese economic data.

At 13:16 IST, the S&P was up 53.66 points or 0.2% at 26,483.51. The index jumped 185.56 points at the day's high of 26,615.41 in morning trade, its highest level since 9 October 2014. The index shed 22.85 points at the day's low of 26,407 in afternoon trade.

The CNX Nifty was up 18.55 points or 0.24% at 7,897.95. The index hit a high of 7,934.50 in intraday trade, its highest level since 9 October 2014. The index hit a low of 7,874.35 in intraday trade.

The Mid-Cap index was up 63.33 points or 0.68% at 9,439.41. The Small-Cap index was up 29.50 points or 0.28% at 10,392.95. Both theses indices outperformed the

The market breadth indicating the overall health of the market was positive. On BSE, 1,345 shares rose while 1,164 shares declined. A total of 130 shares were unchanged.

Bank rose 0.37% at Rs 898.15. The stock hit a high of Rs 905.65 and a low of Rs 888. The bank's net profit rose 20.13% to Rs 2381.46 crore on 16.39% growth in total income to Rs 13894.73 crore in Q2 September 2014 over Q2 September 2013. The result was announced during market hours.

(PNB) lost 1.7% at Rs 940.15. The stock hit a high of Rs 975.35 and a low of Rs 918.70. The bank's net profit rose 13.81% to Rs 575.34 crore on 11.92% growth in total income to Rs 13020.46 crore in Q2 September 2014 over Q2 September 2013. The result was announced during market hours.

PNB's ratio of gross non-performing assets (NPA) to gross advances stood at 5.65% as on 30 September 2014 as against 5.48% as on 30 June 2014 and 5.14% as on 30 September 2013. The ratio of net NPA to net advances stood at 3.26% as on 30 September 2014 as against 3.02% as on 30 June 2014 and 3.07% as on 30 September 2013.

PSU OMCs declined after yesterday's rally triggered by the government announcing diesel price decontrol at the weekend. BPCL (down 1.31%), HPCL (down 1.41%) Indian Oil Corporation (down 2.33%) edged lower.

Soon after the government on 18 October 2014, announced deregulation of diesel prices, PSU OMCs cut diesel prices. Indian Oil Corporation (IOCL) on 18 October 2014, said it has cut diesel price by Rs 3.37/litre (including VAT) in Delhi with corresponding decrease in other price in other states from the midnight of 18/19 October 2014. The movement of prices in international oil market and rupee dollar exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes in diesel prices, IOCL said.

Shares of gas production and exploration firms also declined. ONGC (down 2.17%), Oil India (down 0.18%) edged lower. Shares of GAIL (India) surged 4.5% at Rs 479.40. The government on 18 October 2014, approved the new domestic gas pricing policy. As per the new formula, gas price will increase to $5.61 per million BTU (MMBTU) from exitisting $4.2 MMBTU with effect from 1 November 2014. Gas prices will be revised every six months. The next revision will be due on 1 April 2015.

FMCG stocks edged higher. Dabur India (up 1.56%), Nestle India (up 1.11%), Godrej Consumer Products (up 1.13%), Colgate-Palmolive (India) (up 0.96%) and Hindustan Unilever (up 0.22%) gained.

Motilal Oswal Financial Services rose 2.66% at Rs 226 after consolidated net profit jumped 481% to Rs 32.65 crore on 54% rise in total revenues to Rs 178.60 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 20 October 2014.

Kalyani Steels surged 7.44% at Rs 155.30, with the stock extending Monday's 6.21% rally triggered by the company's strong Q2 result. Kalyani Steels' net profit jumped 92.4% to Rs 22.78 crore on 27.6% rise in net sales to Rs 314.74 crore in Q2 September 2014 over Q2 September 2013. The result was announced during market hours yesterday, 20 October 2014.

Meanwhile, provisional data released by the stock exchanges after trading hours yesterday, 20 October 2014, showed that foreign portfolio investors (FPIs) bought shares worth a net Rs 1040.08 crore on that day.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 61.30, compared with its close of 61.365 during the previous trading session.

Brent crude prices edged higher after a mixed bag of Chinese economic data. Brent for December settlement was up 49 cents at $85.89 a barrel. The contract had lost 76 cents or 0.9% to settle at $85.40 a barrel yesterday, 20 October 2014.

Ashima Goyal, a member of the Reserve Bank of India's (RBI) technical advisory committee reportedly said yesterday, 20 October 2014, that the RBI may consider easing monetary policy as early as March after global crude prices fell to a four-year low this month. Real interest rates are becoming more and more positive, which would be severely disinflationary, and that means the RBI has to cut rates, Goyal said. The RBI's technical advisory committee makes policy recommendations to RBI Governor Raghuram Rajan.

Meanwhile, the Narendra Modi government yesterday, 20 October 2014, announced that it will auction 74 coal-mining licenses to private companies in the next three to four months after the Supreme Court last month canceled 214 coal licenses issued to private and public companies since 1993. The licenses will be auctioned to private-sector companies only for captive use. Finance Minister Arun Jaitley said allowing private-sector companies to mine coal to sell to others is something the government may consider in the future.

Mr. Jaitley said state-run, coal-consuming companies that want to mine for their own use won't have to compete against the private sector for coal licenses, especially in key industries such as power. The government will allocate government companies licenses without an auction.

Meanwhile, investors are watching political developments in Maharashtra as the BJP is set to form the government in the state after the party emerged as the single largest party after assembly election in the state. The BJP won 122 seats in the 288-member assembly, falling few seats short of the 145 seats required for a simple majority. Its ally Rashtriya Samaj Paksha won one.

European stocks reversed initial losses today, 21 October 2014, as investors weighed corporate earnings reports. Key indices in Germany, France and UK were up 0.1% to 0.48%.

Asian stocks edged lower today, 21 October 2014, after a mixed bag of Chinese economic data, including the slowest GDP growth in five years, and a drop in housing prices, but a better-than-expected gain for September industrial production. Key benchmark indices in China, Indonesia, Hong Kong, Taiwan, Japan and South Korea were off 0.1% to 2.03%. Singapore's Straits Times was up 0.25%.

China posted a 7.3% year-over-year quarterly growth rate, marking growth at its slowest pace in five years amid a slumping real-estate market and weak domestic demand and industrial production. Value-added industrial output in China rose by a larger-than-expected 8% in September from a year earlier, accelerating from a 6.9% year-over-year increase in August, the statistics bureau said. Industrial production also increased 0.91% in September from August, when it rose 0.2% from the preceding month, it said.

Trading in US index futures indicated that the Dow could fall 39 points at the opening bell today, 21 October 2014. US equity investors began the week on an optimistic, albeit cautious, note on Monday, 20 October 2014, with gains in broader markets led by defensive sectors such as consumer staples and utilities.

The Federal Open Market Committee (FOMC) next undertakes a monetary policy review at a two-day meeting on 28-29 October 2014.

Powered by Capital Market - Live News

RECOMMENDED FOR YOU

HDFC Bank inches up after good Q2 outcome

A bout of volatility was witnessed as key indices regained positive zone after slipping into the red from green in afternoon trade. The intraday recovery for key indices materialised as European stocks reversed initial losses and as US index futures trimmed losses. The barometer index, the S&P BSE Sensex, was currently up 53.66 points or 0.2% at 26,483.51. The market breadth indicating the overall health of the market was positive.

A bout of volatility was witnessed as key indices regained positive zone after slipping into the red from green in afternoon trade. The intraday recovery for key indices materialised as European stocks reversed initial losses and as US index futures trimmed losses. The barometer index, the S&P Sensex, was currently up 53.66 points or 0.2% at 26,483.51. The market breadth indicating the overall health of the market was positive.

Meanwhile, the Narendra Modi government yesterday, 20 October 2014, announced that it will auction 74 coal-mining licenses to private companies in the next three to four months after the Supreme Court last month canceled 214 coal licenses issued to private and public companies since 1993. The move came after the government freed diesel from price controls and increased natural-gas tariffs over the weekend to curb subsidies and cut the fiscal deficit.

Bank edged higher in volatile trade after reporting good Q2 results. edged lower in choppy trade after strong Q2 numbers. Cadila Healthcare rose after the company issued clarification with regard to a news item. PSU OMCs declined after yesterday's rally triggered by the government announcing diesel price decontrol at the weekend. Shares of gas production and exploration firms also declined. FMCG stocks advanced.

Earlier, key indices had reversed intraday gains in afternoon trade. Before that the benchmark indices had extended initial gains in morning trade that took the and the 50-unit CNX Nifty to their highest level in almost two weeks.

In overseas markets, European stocks reversed initial losses as investors weighed corporate earnings reports. Asian stocks dropped after the latest data showed that China's gross domestic product (GDP) rose 7.3% year-over-year in Q3 September 2014, marking its slowest pace of growth in five years.

In the foreign exchange market, the rupee edged higher against the dollar.

Brent crude prices edged higher after a mixed bag of Chinese economic data.

At 13:16 IST, the S&P was up 53.66 points or 0.2% at 26,483.51. The index jumped 185.56 points at the day's high of 26,615.41 in morning trade, its highest level since 9 October 2014. The index shed 22.85 points at the day's low of 26,407 in afternoon trade.

The CNX Nifty was up 18.55 points or 0.24% at 7,897.95. The index hit a high of 7,934.50 in intraday trade, its highest level since 9 October 2014. The index hit a low of 7,874.35 in intraday trade.

The Mid-Cap index was up 63.33 points or 0.68% at 9,439.41. The Small-Cap index was up 29.50 points or 0.28% at 10,392.95. Both theses indices outperformed the

The market breadth indicating the overall health of the market was positive. On BSE, 1,345 shares rose while 1,164 shares declined. A total of 130 shares were unchanged.

Bank rose 0.37% at Rs 898.15. The stock hit a high of Rs 905.65 and a low of Rs 888. The bank's net profit rose 20.13% to Rs 2381.46 crore on 16.39% growth in total income to Rs 13894.73 crore in Q2 September 2014 over Q2 September 2013. The result was announced during market hours.

(PNB) lost 1.7% at Rs 940.15. The stock hit a high of Rs 975.35 and a low of Rs 918.70. The bank's net profit rose 13.81% to Rs 575.34 crore on 11.92% growth in total income to Rs 13020.46 crore in Q2 September 2014 over Q2 September 2013. The result was announced during market hours.

PNB's ratio of gross non-performing assets (NPA) to gross advances stood at 5.65% as on 30 September 2014 as against 5.48% as on 30 June 2014 and 5.14% as on 30 September 2013. The ratio of net NPA to net advances stood at 3.26% as on 30 September 2014 as against 3.02% as on 30 June 2014 and 3.07% as on 30 September 2013.

PSU OMCs declined after yesterday's rally triggered by the government announcing diesel price decontrol at the weekend. BPCL (down 1.31%), HPCL (down 1.41%) Indian Oil Corporation (down 2.33%) edged lower.

Soon after the government on 18 October 2014, announced deregulation of diesel prices, PSU OMCs cut diesel prices. Indian Oil Corporation (IOCL) on 18 October 2014, said it has cut diesel price by Rs 3.37/litre (including VAT) in Delhi with corresponding decrease in other price in other states from the midnight of 18/19 October 2014. The movement of prices in international oil market and rupee dollar exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes in diesel prices, IOCL said.

Shares of gas production and exploration firms also declined. ONGC (down 2.17%), Oil India (down 0.18%) edged lower. Shares of GAIL (India) surged 4.5% at Rs 479.40. The government on 18 October 2014, approved the new domestic gas pricing policy. As per the new formula, gas price will increase to $5.61 per million BTU (MMBTU) from exitisting $4.2 MMBTU with effect from 1 November 2014. Gas prices will be revised every six months. The next revision will be due on 1 April 2015.

FMCG stocks edged higher. Dabur India (up 1.56%), Nestle India (up 1.11%), Godrej Consumer Products (up 1.13%), Colgate-Palmolive (India) (up 0.96%) and Hindustan Unilever (up 0.22%) gained.

Motilal Oswal Financial Services rose 2.66% at Rs 226 after consolidated net profit jumped 481% to Rs 32.65 crore on 54% rise in total revenues to Rs 178.60 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 20 October 2014.

Kalyani Steels surged 7.44% at Rs 155.30, with the stock extending Monday's 6.21% rally triggered by the company's strong Q2 result. Kalyani Steels' net profit jumped 92.4% to Rs 22.78 crore on 27.6% rise in net sales to Rs 314.74 crore in Q2 September 2014 over Q2 September 2013. The result was announced during market hours yesterday, 20 October 2014.

Meanwhile, provisional data released by the stock exchanges after trading hours yesterday, 20 October 2014, showed that foreign portfolio investors (FPIs) bought shares worth a net Rs 1040.08 crore on that day.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 61.30, compared with its close of 61.365 during the previous trading session.

Brent crude prices edged higher after a mixed bag of Chinese economic data. Brent for December settlement was up 49 cents at $85.89 a barrel. The contract had lost 76 cents or 0.9% to settle at $85.40 a barrel yesterday, 20 October 2014.

Ashima Goyal, a member of the Reserve Bank of India's (RBI) technical advisory committee reportedly said yesterday, 20 October 2014, that the RBI may consider easing monetary policy as early as March after global crude prices fell to a four-year low this month. Real interest rates are becoming more and more positive, which would be severely disinflationary, and that means the RBI has to cut rates, Goyal said. The RBI's technical advisory committee makes policy recommendations to RBI Governor Raghuram Rajan.

Meanwhile, the Narendra Modi government yesterday, 20 October 2014, announced that it will auction 74 coal-mining licenses to private companies in the next three to four months after the Supreme Court last month canceled 214 coal licenses issued to private and public companies since 1993. The licenses will be auctioned to private-sector companies only for captive use. Finance Minister Arun Jaitley said allowing private-sector companies to mine coal to sell to others is something the government may consider in the future.

Mr. Jaitley said state-run, coal-consuming companies that want to mine for their own use won't have to compete against the private sector for coal licenses, especially in key industries such as power. The government will allocate government companies licenses without an auction.

Meanwhile, investors are watching political developments in Maharashtra as the BJP is set to form the government in the state after the party emerged as the single largest party after assembly election in the state. The BJP won 122 seats in the 288-member assembly, falling few seats short of the 145 seats required for a simple majority. Its ally Rashtriya Samaj Paksha won one.

European stocks reversed initial losses today, 21 October 2014, as investors weighed corporate earnings reports. Key indices in Germany, France and UK were up 0.1% to 0.48%.

Asian stocks edged lower today, 21 October 2014, after a mixed bag of Chinese economic data, including the slowest GDP growth in five years, and a drop in housing prices, but a better-than-expected gain for September industrial production. Key benchmark indices in China, Indonesia, Hong Kong, Taiwan, Japan and South Korea were off 0.1% to 2.03%. Singapore's Straits Times was up 0.25%.

China posted a 7.3% year-over-year quarterly growth rate, marking growth at its slowest pace in five years amid a slumping real-estate market and weak domestic demand and industrial production. Value-added industrial output in China rose by a larger-than-expected 8% in September from a year earlier, accelerating from a 6.9% year-over-year increase in August, the statistics bureau said. Industrial production also increased 0.91% in September from August, when it rose 0.2% from the preceding month, it said.

Trading in US index futures indicated that the Dow could fall 39 points at the opening bell today, 21 October 2014. US equity investors began the week on an optimistic, albeit cautious, note on Monday, 20 October 2014, with gains in broader markets led by defensive sectors such as consumer staples and utilities.

The Federal Open Market Committee (FOMC) next undertakes a monetary policy review at a two-day meeting on 28-29 October 2014.

Powered by Capital Market - Live News

image
Business Standard
177 22

HDFC Bank inches up after good Q2 outcome

A bout of volatility was witnessed as key indices regained positive zone after slipping into the red from green in afternoon trade. The intraday recovery for key indices materialised as European stocks reversed initial losses and as US index futures trimmed losses. The barometer index, the S&P Sensex, was currently up 53.66 points or 0.2% at 26,483.51. The market breadth indicating the overall health of the market was positive.

Meanwhile, the Narendra Modi government yesterday, 20 October 2014, announced that it will auction 74 coal-mining licenses to private companies in the next three to four months after the Supreme Court last month canceled 214 coal licenses issued to private and public companies since 1993. The move came after the government freed diesel from price controls and increased natural-gas tariffs over the weekend to curb subsidies and cut the fiscal deficit.

Bank edged higher in volatile trade after reporting good Q2 results. edged lower in choppy trade after strong Q2 numbers. Cadila Healthcare rose after the company issued clarification with regard to a news item. PSU OMCs declined after yesterday's rally triggered by the government announcing diesel price decontrol at the weekend. Shares of gas production and exploration firms also declined. FMCG stocks advanced.

Earlier, key indices had reversed intraday gains in afternoon trade. Before that the benchmark indices had extended initial gains in morning trade that took the and the 50-unit CNX Nifty to their highest level in almost two weeks.

In overseas markets, European stocks reversed initial losses as investors weighed corporate earnings reports. Asian stocks dropped after the latest data showed that China's gross domestic product (GDP) rose 7.3% year-over-year in Q3 September 2014, marking its slowest pace of growth in five years.

In the foreign exchange market, the rupee edged higher against the dollar.

Brent crude prices edged higher after a mixed bag of Chinese economic data.

At 13:16 IST, the S&P was up 53.66 points or 0.2% at 26,483.51. The index jumped 185.56 points at the day's high of 26,615.41 in morning trade, its highest level since 9 October 2014. The index shed 22.85 points at the day's low of 26,407 in afternoon trade.

The CNX Nifty was up 18.55 points or 0.24% at 7,897.95. The index hit a high of 7,934.50 in intraday trade, its highest level since 9 October 2014. The index hit a low of 7,874.35 in intraday trade.

The Mid-Cap index was up 63.33 points or 0.68% at 9,439.41. The Small-Cap index was up 29.50 points or 0.28% at 10,392.95. Both theses indices outperformed the

The market breadth indicating the overall health of the market was positive. On BSE, 1,345 shares rose while 1,164 shares declined. A total of 130 shares were unchanged.

Bank rose 0.37% at Rs 898.15. The stock hit a high of Rs 905.65 and a low of Rs 888. The bank's net profit rose 20.13% to Rs 2381.46 crore on 16.39% growth in total income to Rs 13894.73 crore in Q2 September 2014 over Q2 September 2013. The result was announced during market hours.

(PNB) lost 1.7% at Rs 940.15. The stock hit a high of Rs 975.35 and a low of Rs 918.70. The bank's net profit rose 13.81% to Rs 575.34 crore on 11.92% growth in total income to Rs 13020.46 crore in Q2 September 2014 over Q2 September 2013. The result was announced during market hours.

PNB's ratio of gross non-performing assets (NPA) to gross advances stood at 5.65% as on 30 September 2014 as against 5.48% as on 30 June 2014 and 5.14% as on 30 September 2013. The ratio of net NPA to net advances stood at 3.26% as on 30 September 2014 as against 3.02% as on 30 June 2014 and 3.07% as on 30 September 2013.

PSU OMCs declined after yesterday's rally triggered by the government announcing diesel price decontrol at the weekend. BPCL (down 1.31%), HPCL (down 1.41%) Indian Oil Corporation (down 2.33%) edged lower.

Soon after the government on 18 October 2014, announced deregulation of diesel prices, PSU OMCs cut diesel prices. Indian Oil Corporation (IOCL) on 18 October 2014, said it has cut diesel price by Rs 3.37/litre (including VAT) in Delhi with corresponding decrease in other price in other states from the midnight of 18/19 October 2014. The movement of prices in international oil market and rupee dollar exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes in diesel prices, IOCL said.

Shares of gas production and exploration firms also declined. ONGC (down 2.17%), Oil India (down 0.18%) edged lower. Shares of GAIL (India) surged 4.5% at Rs 479.40. The government on 18 October 2014, approved the new domestic gas pricing policy. As per the new formula, gas price will increase to $5.61 per million BTU (MMBTU) from exitisting $4.2 MMBTU with effect from 1 November 2014. Gas prices will be revised every six months. The next revision will be due on 1 April 2015.

FMCG stocks edged higher. Dabur India (up 1.56%), Nestle India (up 1.11%), Godrej Consumer Products (up 1.13%), Colgate-Palmolive (India) (up 0.96%) and Hindustan Unilever (up 0.22%) gained.

Motilal Oswal Financial Services rose 2.66% at Rs 226 after consolidated net profit jumped 481% to Rs 32.65 crore on 54% rise in total revenues to Rs 178.60 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 20 October 2014.

Kalyani Steels surged 7.44% at Rs 155.30, with the stock extending Monday's 6.21% rally triggered by the company's strong Q2 result. Kalyani Steels' net profit jumped 92.4% to Rs 22.78 crore on 27.6% rise in net sales to Rs 314.74 crore in Q2 September 2014 over Q2 September 2013. The result was announced during market hours yesterday, 20 October 2014.

Meanwhile, provisional data released by the stock exchanges after trading hours yesterday, 20 October 2014, showed that foreign portfolio investors (FPIs) bought shares worth a net Rs 1040.08 crore on that day.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 61.30, compared with its close of 61.365 during the previous trading session.

Brent crude prices edged higher after a mixed bag of Chinese economic data. Brent for December settlement was up 49 cents at $85.89 a barrel. The contract had lost 76 cents or 0.9% to settle at $85.40 a barrel yesterday, 20 October 2014.

Ashima Goyal, a member of the Reserve Bank of India's (RBI) technical advisory committee reportedly said yesterday, 20 October 2014, that the RBI may consider easing monetary policy as early as March after global crude prices fell to a four-year low this month. Real interest rates are becoming more and more positive, which would be severely disinflationary, and that means the RBI has to cut rates, Goyal said. The RBI's technical advisory committee makes policy recommendations to RBI Governor Raghuram Rajan.

Meanwhile, the Narendra Modi government yesterday, 20 October 2014, announced that it will auction 74 coal-mining licenses to private companies in the next three to four months after the Supreme Court last month canceled 214 coal licenses issued to private and public companies since 1993. The licenses will be auctioned to private-sector companies only for captive use. Finance Minister Arun Jaitley said allowing private-sector companies to mine coal to sell to others is something the government may consider in the future.

Mr. Jaitley said state-run, coal-consuming companies that want to mine for their own use won't have to compete against the private sector for coal licenses, especially in key industries such as power. The government will allocate government companies licenses without an auction.

Meanwhile, investors are watching political developments in Maharashtra as the BJP is set to form the government in the state after the party emerged as the single largest party after assembly election in the state. The BJP won 122 seats in the 288-member assembly, falling few seats short of the 145 seats required for a simple majority. Its ally Rashtriya Samaj Paksha won one.

European stocks reversed initial losses today, 21 October 2014, as investors weighed corporate earnings reports. Key indices in Germany, France and UK were up 0.1% to 0.48%.

Asian stocks edged lower today, 21 October 2014, after a mixed bag of Chinese economic data, including the slowest GDP growth in five years, and a drop in housing prices, but a better-than-expected gain for September industrial production. Key benchmark indices in China, Indonesia, Hong Kong, Taiwan, Japan and South Korea were off 0.1% to 2.03%. Singapore's Straits Times was up 0.25%.

China posted a 7.3% year-over-year quarterly growth rate, marking growth at its slowest pace in five years amid a slumping real-estate market and weak domestic demand and industrial production. Value-added industrial output in China rose by a larger-than-expected 8% in September from a year earlier, accelerating from a 6.9% year-over-year increase in August, the statistics bureau said. Industrial production also increased 0.91% in September from August, when it rose 0.2% from the preceding month, it said.

Trading in US index futures indicated that the Dow could fall 39 points at the opening bell today, 21 October 2014. US equity investors began the week on an optimistic, albeit cautious, note on Monday, 20 October 2014, with gains in broader markets led by defensive sectors such as consumer staples and utilities.

The Federal Open Market Committee (FOMC) next undertakes a monetary policy review at a two-day meeting on 28-29 October 2014.

Powered by Capital Market - Live News

image
Business Standard
177 22