Trading of Nifty 50 index futures on the Singapore stock exchange indicates a flat opening on the domestic bourses today,7 October 2016.
In overseas stock markets, Asian stocks were trading lower as investors looked ahead to a key employment report. Markets in China remained closed for the Golden Week public holidays. US stocks closed near the flatline yesterday, 6 October 2016 as investors abstained from making big bets ahead of much-anticipated September jobs report. The US Bureau of Labor Statistics will announce the non farm payrolls report for September 2016 later in the global day today, 7 October 2016. Total nonfarm payroll employment in the United States increased by 151,000 in August of 2016, lower than a upwardly revised 275,000 in July. Investors and traders have been keeping a close eye on economic data as they gauge the likelihood of the US Federal Reserve raising interest rates later this year.
Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 353.80 crore yesterday, 6 October 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 124.45 crore yesterday, 6 October 2016, as per provisional data.
Tata Steel announced that its hot metal production rose 17% to 3.12 million tonnes in Q2 September 2016 over Q2 September 2015. Crude steel production rose 13% to 2.82 million tonnes in Q2 September 2016 over Q2 September 2015. Saleable steel production increased by 11% to 2.71 million tonnes in Q2 September 2016 over Q2 September 2015. The company's sales rose 12.44% to 2.62 million tonnes in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 6 October 2016.
Reliance Industries (RIL) before market hours today, 7 October 2016 said that Reliane Jio Infocomm (RJIL) has successfully acquired the right to use 269.2 MHz (UL+DL) spectrum across all 22 service areas in India in the recently concluded spectrum auction conducted by DOT, Government of India. RJIL's spectrum footprint ensures availability of spectrum in all the three bands across the country and enhances its network capacity at negligible incremental capital and operating expenditure.
Bharti Airtel before market hours today, 7 October 2016 announced that it has acquired 173.8 Mhz spectrum across 1800/2100/2300 MHz bands for a total consideration of Rs 14244 crore in the latest spectrum auction conducted by the Department of Telecom, Government of India. Airtel said it has further strengthened its pan-India spectrum portfolio and secured its spectrum requirements for the next 20 years. The company now has 4G and 3G spectrum in all circles, giving it the widest mobile broadband footprint across the country.
Kotak Mahindra Bank announced that it has revised its base rate downwards by 10 basis points (bps) to 9.4% per annum with effect from 7 October 2016. All categories of loans (other than the exceptions permitted by RBI) will be priced with reference to the revised base rate. The announcement was made after market hours yesterday, 6 October 2016.
Idea Cellular announced before market hours today, 7 October 2016 that the company has successfully completed its pan-India mobile broadband footprint and significantly boosted its capacity spectrum portfolio in the recently concluded spectrum auction conducted by DOT, Government of India. Idea is now well equipped to offer 4G services on its own spectrum across 20 service areas including 9 new service areas. It has also procured 3G spectrum in Bihar & Rajasthan extending its capability to offer 3G services to 15 service areas.
Key benchmark indices dropped for the second day in a row yesterday, 6 October 2016, led by losses in index heavyweights ITC and Infosys. The Sensex fell 114.77 points or 0.41% to settle at 28,106.21, its lowest closing level since 30 September 2016.
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