The market may edge lower in early trade on weak Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 47 points at the opening bell.
Index heavyweight Reliance Industries' (RIL) annual general meeting is scheduled today, 6 June 2013. Shares of RIL had risen on Wednesday, 5 June 2013, on speculation of the company making further announcements regarding a tie-up with Reliance Communications. On 2 April 2013, RCom and RIL's telecom unit Reliance Jio Infocomm had announced the signing of a definitive agreement for approximately Rs 1200 crore as one time indefeasible right to use (IRU) fees for sharing RCom's nationwide inter-city fiber optic network infrastructure. RCom had said at that time that the agreement between the two companies was the first in an intended comprehensive framework of business co-operation between Reliance Jio Infocomm and RCom to provide for optimal utilization of the existing and future infrastructure of both companies on reciprocal basis, including inter alia, inter-city fiber, intra-city fiber, towers and related assets.
Mahindra & Mahindra (M&M) on Wednesday, 5 June 2013, unveiled sub 4 metre compact car, the Verito Vibe. Designed and developed in-house by Mahindra, the Verito Vibe marks Mahindra's entry into the high volume compact car market. The Verito Vibe redefines the compact car segment in terms of its spaciousness, reliability and unique crossover style for the Indian consumer, M&M said. Priced at an attractive Rs 5.63 (ex-showroom Mumbai) the New Verito Vibe will be available in three distinct and attractive variants namely - D2, D4, D6. The new Verito Vibe will be available in Diesel engine only. The price range for the Vibe will be from Rs 5.63 lacs (ex-showroom Mumbai) for the base D2 model, to Rs 6.49 lac (ex showroom Mumbai) for the fully loaded top end D6.
IT major TCS turns ex-dividend today, 6 June 2013, for the dividend of Rs 13 for the financial year ended 31 March 2013.
Asian Paints turns ex-dividend today, 6 June 2013, for the dividend of Rs 36.50 for the financial year ended 31 March 2013.
Key benchmark indices settled with marginal gains on Wednesday, 5 June 2013, as index heavyweight Reliance Industries (RIL) gained a day ahead of the company's annual general meeting (AGM). The S&P BSE Sensex advanced 22.44 points or 0.11% to 19,568.22 on that day, its highest closing level since 3 June 2013.
Foreign institutional investors (FIIs) bought shares worth a net Rs 88.49 crore on Wednesday, 5 June 2013, as per provisional data from the stock exchanges.
Asian stocks fell on Thursday after US jobs and factory data missed estimates and investors speculated whether the Federal Reserve will scale back bond purchases. Key benchmark indices in Hong Kong, China, Japan, Singapore and Taiwan shed by 0.45% to 1.15%. South Korea's market was closed for a public holiday.
US stocks declined on Wednesday, extending losses into a second day, as data finds US private-sector job growth and productivity below expectations.
A report from ADP Research Institute showed companies in the US hired fewer workers than projected in May amid federal budget cuts and higher taxes. Separate data from the Commerce Department showed factory orders in April fell short of estimates. The Fed's Beige Book showed the US economy expanded at a "modest to moderate" pace in 11 of 12 central-bank districts, with broad-based gains ranging from business services to construction and manufacturing. The survey is based on data collected by Fed regional banks on or before May 24.
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