The market is poised for a firm opening on positive Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could surge 77 points at the opening bell. The market may remain volatile today, 27 June 2013, as traders roll over positions in the futures & options (F&O) segment from the near month June 2013 series to July 2013 series. The June 2013 F&O contracts expire today, 27 June 2013. Asian stocks advanced Thursday on hopes the Federal Reserve will maintain its bond purchases for longer, while mainland Chinese shares rebounded after official data showing robust growth in industrial profits.
Oil and gas stocks may be watched as the Cabinet Committee on Economic Affairs (CCEA) will today, 27 June 2013 reportedly consider a proposal for a steep hike in natural gas prices. The CCEA last week deferred a decision on a proposal to hike natural gas prices as Oil Minister M Veerappa Moily was away on an official tour. The oil ministry has proposed an increase in gas prices to $6.775 million British thermal unit (mbtu) from current $4.2 mbtu. The Oil Ministry has proposed raising gas price for state-run firms immediately and that for Reliance Industries (RIL) from April 2014 when it is contractually due.
NTPC said after market hours on Wednesday, 26 June 2013 that the board of directors of the company at its meeting held on 25 June 2013, has accorded investment approval for the development of 50 megawatts (MW) solar photo voltaic based project at Rajgarh, Madhya Pradesh at an appraised current project cost of Rs 346.42 crore.
Housing Development Finance Corporation (HDFC) turns ex-dividend today, 27 June 2013, for dividend of Rs 12.50 per share for the year ended 31 March 2013.
Wipro turns ex-dividend today, 27 June 2013, for final dividend of Rs 5 per share for the year ended 31 March 2013.
Sobha Developers turns ex-dividend today, 27 June 2013, for dividend of Rs 7 per share for the year ended 31 March 2013.
Tata Global Beverages turns ex-dividend today, 27 June 2013, for dividend of Rs 2.15 per share for the year ended 31 March 2013.
Magma Fincorp said after market hours on Wednesday, 26 June 2013 that the board of directors of the company at its meeting held on 26 June 2013, approved that the company make an application seeking a banking license in terms of the guidelines for licensing of new banks in the private sector dated 22 February 2013 and the associated clarifications issued by the Reserve Bank of India on 3 June 2013.
Key benchmark indices edged lower on Wednesday, 26 June 2013 with the market sentiment hit adversely after the rupee hit record low below 60 against the dollar in afternoon deals. The S&P BSE Sensex shed 77.03 points or 0.41% to 18,552.12, its lowest closing level since 24 June 2013.
Foreign institutional investors (FIIs) sold shares worth a net Rs 547.79 crore on Wednesday, 26 June 2013, as per provisional data from the stock exchanges.
Asian stocks advanced Thursday on hopes the Federal Reserve will maintain its bond purchases for longer, while mainland Chinese shares rebounded after official data showing robust growth in industrial profits. Key benchmark indices in Hong Kong, Indonesia, Taiwan, Singapore, China, Japan and South Korea were up 1.02% to 2.84%.
Profit at major Chinese industrial firms in May rose 15.5% from the year-earlier period, the National Bureau of Statistics said Thursday. Profit at the firms from the newly adjusted measure of "core operating activities" rose 8.8% from a year earlier, 2.8 percentage points slower than in April, the data said. In the January-May period, overall industrial profit was up 12.3% from the same period in 2012, though up 11.4% in terms of core activities, the bureau said.
South Korea's current-account surplus rose to a record high in May, helped by robust exports, the Bank of Korea said Thursday, reinforcing market views that the country's fundamentals remain relatively sound despite a global slowdown.
The current-account surplus, the broadest measure of South Korea's trade with the rest of the world, totaled $8.64 billion last month, the highest monthly amount on record. That compares with a surplus of $3.93 billion in April and a surplus of $3.57 billion in May last year. On a seasonally adjusted basis, the current-account surplus rose to $7.82 billion from $4.76 billion in the previous month.
US stocks jumped Wednesday, pulling benchmark indexes into positive terrain for the week, as a revision in economic growth calmed concern about US monetary policy.
Gross domestic product expanded 1.8% from January through March, down from an earlier estimate of 2.4%, the Commerce Department reported.
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