Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 35.50 points at the opening bell, tracking gains on Wall Street overnight and positive sentiment in Asian markets today, 19 June 2015.
In overseas stock markets, Asian stock markets edged higher today, 19 June 2015. US stock markets edged higher yesterday, 18 June 2015, with Nasdaq hitting record high on intraday and closing basis. The rally on Wall Street came as traders continued to react positive to the Federal Reserve's monetary policy announcement on Wednesday, 17 June 2015.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 784.73 crore yesterday, 18 June 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1110.01 crore yesterday, 18 June 2015, as per provisional data.
Among corporate news, shares of Hindustan Unilever turn ex-dividend today, 19 June 2015, for final dividend of Rs 9 per share for the year ended 31 March 2015.
The India Meteorological Department (IMD) said in its daily monsoon update issued yesterday, 18 June 2015, that the Southwest Monsoon was vigorous over Coastal Andhra Pradesh and active over Sub-Himalayan West Bengal & Sikkim, Konkan & Goa, Vidarbha and Telangana during past 24 hours ending at 0830 hrs. Conditions are favourable for further advance of southwest monsoon into some more parts of Chhattisgarh, Odisha and West Bengal and remaining parts of Coastal Andhra Pradesh and Bay of Bengal during next 2-3 days, the IMD said.
For the country as a whole, the cumulative rainfall during this year's monsoon season was 11% above the Long Period Average (LPA) until 17 June 2015. Region wise, the southwest monsoon was 19% above the LPA in Central India, 16% above the LPA in East & Northeast India and 7% below the LPA in Northwest India until 17 June 2015. The rainfall was 100% of the Long Period Average in South Peninsula.
In a separate weekly monsoon report, the IMD said that the rainfall activity is expected to increase over Odisha, Andhra Pradesh, Karnataka and parts of Maharashtra till 20 June. During 21-25 June, rainfall is expected to increase over many parts of central and adjoining eastern and northwestern parts of the country. Thereafter, during 26-30 June, rainfall is likely to increase over Indo-Gangetic plains and northwest India. IMD said that its forecasting models are suggesting an overall decrease in monsoon rainfall over most parts of the country in the beginning of July.
The June-September southwest monsoon is critical for the country's agriculture because a considerable part of the country's farmland is dependent on the rains for irrigation.
Refinery and pharma stocks led rally for key benchmark indices, with the barometer index, the S&P BSE Sensex, regaining the psychological 27,000 level yesterday, 18 June 2015. The S&P BSE Sensex rose 283.17 points or 1.06% to settle at 27,115.83, its highest closing level since 2 June 2015.
In overseas stock markets, Asian stock markets edged higher today, 19 June 2015. Key indices in Hong Kong, Singapore, South Korea and Indonesia were up 0.19% to 0.99%. In China, the Shanghai Composite was off 2.63%. Taiwan stock market was shut for a holiday.
US stock markets edged higher yesterday, 18 June 2015, with Nasdaq hitting record high on intraday and closing basis.
Among economic data, US consumers saw an increase in price pressures in May, rising for the fourth straight month, according to the latest data from the Department of Labor released yesterday, 18 June 2015. Consumer price index rose 0.4% on a seasonally adjusted basis last month, compared to April's rise of 0.1%.
Meanwhile , the first-time weekly jobless claims in the US fell by 12,000 claims to a seasonally adjusted 267,000 during the week ending 6th June, the Labor Department said yesterday, 18 June 2015. Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, fell by 50,000 claims to a seasonally adjusted 2.22 million during the week ending 6th June.
In Europe, European officials and the International Monetary Fund (IMF) have failed to strike a deal on Greece's bailout program, bringing the country one step closer to a dangerous default and potential exit from the eurozone, as per reports. After the talks collapsed, the EU called an emergency summit of leaders for Monday to urgently discuss the situation of Greece, reports added. Greece is still struggling to reach a reform agreement with its lenders, which would unlock the next portion of bailout money needed to repay 1.6 billion euros ($1.82 billion) to IMF by the end of June.
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