The market is expected to open higher on positive Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could advance 44 points at the opening bell. Asian markets gained after the two most important central banks in Europe surprised by assuring investors they were in no hurry to wind down stimulus.
FMCG giant Hindustan Unilever will be in focus on reports that Unilever's shareholding in Hindustan Unilever has increased from 52.48% to 67.28% through buyback of close to 32 crore shares. Anglo-Dutch consumer goods major Unilever had floated an open offer to raise its stake in Indian unit at Rs 600 per share. The open offer opened on 21 June 2013 and closed on 4 July 2013.
Neyveli Lignite Corporation said after market hours on Thursday, 4 July 2013 that the recognized trade unions and other registered trade unions have resorted to an indefinite strike commencing from night shift of Wednesday, 3 July 2013 in protest against the Government of India's decision to disinvest 5% of equity shares of the company. The Officers and Engineers' Associations have withdrawn from the strike and are attending duties. The lignite production and power generation are being presently maintained at the same level as of the previous day, company said in a statement.
Strides Arcolab said after market hours on Thursday, 4 July 2013 that the board of directors of the company approved the increase in the limit of investments by foreign institutional investors (FIls) in the equity share capital of the company from 49% to 74%, subject to approval of the members, Reserve Bank of India and any other approvals as may be required. Earlier on that day, the company had said that the intermediate ceiling for investment by FIIs capped at 49% limit of its paid up equity capital which was confirmed by the Reserve Bank of India vide its letter dated 8 December 2005 has been crossed and the company is taking necessary steps to increase the cap to a higher limit.
Axis Bank turns ex-dividend today, 5 July 2013, for dividend of Rs 18 per share for the year ended 31 March 2013 (FY 2013).
Pidilite Industries turns ex-dividend today, 5 July 2013, for dividend of Rs 2.60 per share for the year ended 31 March 2013 (FY 2013).
Zensar Technologies turns ex-dividend today, 5 July 2013, for final dividend of Rs 4.50 per share for the year ended 31 March 2013 (FY 2013).
Key benchmark indices edged higher in volatile trade on Thursday, 4 July 2013 as European and Asian stocks rose. The S&P BSE Sensex was up 233.08 points or 1.22% to 19,410.84, its highest closing level since 2 July 2013.
Foreign institutional investors (FIIs) bought shares worth a net Rs 164.56 crore on Thursday, 4 July 2013, as per provisional data from the stock exchanges.
Asian markets gained after the two most important central banks in Europe surprised by assuring investors they were in no hurry to wind down stimulus. Key benchmark indices in China, Hong Kong, Indonesia, South Korea, Taiwan, Singapore and Japan were up 0.16% to 1.34%.
The US stock market remained closed on Thursday, 4 July 2013, for Independence Day holiday.
The US government will unveil the influential nonfarm payrolls data for June 2013 today, 5 July 2013.
The European Central Bank (ECB), as expected, kept its main lending rate at a record low 0.5% on Thursday, the same level it's been at since it was cut from 0.75% back in May. That marked the first cut in 10 months. ECB president Mario Draghi said rates wouldn't rise for "an extended period."
The Bank of England (BOE) decided to keep its key lending rate at a record low 0.5% and to leave the size of its bond-buying program unchanged at 375 billion pounds ($572 billion). The Bank of England on Thursday signaled it won't be raising interest rates anytime soon, saying in a statement that the recovery is on track but it "remains weak by historical standards and a degree of slack is expected to persist for some time."
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