The market may open higher on firm Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 39 points at the opening bell. The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month October 2013 series to November 2013 series. The near month October 2013 derivatives contract expire on Thursday, 31 October 2013.
Hindustan Unilever's (HUL) net profit rose 13.24% to Rs 913.80 crore on 9.04% rise in total income to Rs 7043.63 crore in Q2 September 2013 over Q2 September 2012. HUL announced Q2 results on Saturday, 26 October 2013.Despite a sharp increase in advertising & promotion (A&P) spends, Profit before Interest and Tax (PBIT) grew by 11% with PBIT margin improving by 20 basis points (bps).
The company said operating context during the quarter was challenging given the volatile cost environment, led by the rupee depreciation, and heightened competitive intensity. Overall industry media spend was up to its highest levels in over 18 quarters, with a particularly sharp increase in Oral Care. The company invested at competitive levels across segments with a significant step up in Personal Products - overall A&P spend was up by Rs185 crore, a rise of 1.65% in the quarter.
Harish Manwani, Chairman commented: "We have delivered another quarter of competitive and profitable growth. The consistency and resilience of our performance, in what has been a challenging market environment for some quarters now, is a reflection of the discipline with which we are managing our business and executing our strategy. We continue to strengthen our business for the long term by driving innovation, investing behind our brands and further building organizational capabilities."
Car maker Maruti Suzuki India announces Q2 result today, 28 October 2013.
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Index heavyweight and cigarette major ITC's net profit jumped 21.46% to Rs 2230.53 crore on 9.42% growth in total income to Rs 8108.72 crore in Q2 September 2013 over Q2 September 2012. The company declared Q2 result at fag end of the day's trading session on Friday, 25 October 2013.
The Reserve Bank of India (RBI) announces Second Quarter Review of Monetary Policy 2013-14 tomorrow, 29 October 2013. Market men expect that RBI may hike its main lending rate viz. the repo rate by 25 basis points to arrest rise in inflation. The wholesale price and consumer price inflation, both, accelerated in September 2013. WPI inflation accelerated to 6.46% in September 2013, from 6.1% in August 2013. The annual rate of inflation based on the combined consumer price index (CPI) for urban and rural India rose 9.84% in September 2013, from 9.52% in August 2013.
Key benchmark indices edged lower in choppy trade on last trading day of the week on Friday, 25 October 2013 as Asian and European stocks dropped. The S&P BSE Sensex lost 41.91 points or 0.2% to settle at 20,683.52 on that day, its lowest closing level since 17 October 2013.
Foreign institutional investors (FIIs) bought shares worth a net Rs 626.99 crore on Friday, 25 October 2013, as per provisional data from the stock exchanges.
Asian stocks rose on Monday after weaker than forecast US consumer confidence spurred bets the Federal Reserve will maintain stimulus. Key benchmark indices in Taiwan, Hong Kong, China, Singapore, Japan, Indonesia and South Korea rose 0.19% to 1.08%.
Bank of Korea survey showed consumer sentiment rose this month to the highest level since May 2012.
US stocks rose on Friday on strong third-quarter results from technology companies giving the market its third straight weekly gain.
The Federal Open Market Committee (FOMC) holds a two-day policy meeting tomorrow, 29 October and Wednesday, 30 October 2013. On 18 September 2013, the Fed surprised economists and investors with its decision to delay scaling back its stimulus amid concerns about the strength of the economic recovery.
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