Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 13.50 points at the opening bell.
Among corporate news, National Aluminium Company's (Nalco) net profit surged 170.52% to Rs 354.47 crore on 16.6% growth in total income to Rs 2057.61 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours yesterday, 10 February 2015.
Shares of public sector oil marketing companies (PSU OMCs) will be in focus after the Ministry of Petroleum & Natural Gas after trading hours yesterday, 10 February 2015, said that the Central Government has amended the Kerosene (Restriction on Use and Fixation of Ceiling Price) Order, 1993 with a view to ease the availability of white kerosene (market priced kerosene) for sale in the open market. By virtue of this amendment, all the activities of storage, transportation and sale of non-PDS kerosene have been freed of regulatory control. It is expected that this will reduce demand for diverted PDS kerosene by improving availability of non-PDS kerosene in the open market and will thus meet the demand of kerosene for various legitimate end uses for the industry and for individual consumption by those who can afford it at market price, the Ministry of Petroleum & Natural Gas said in a statement.
Asian Paints after market hours yesterday, 10 February 2015 said that Berger International, Singapore (BIL) an indirect subsidiary of the company has completed the acquisition of 51% stake in Kadisco Paint and Adhesive Industry Share Company, Ethiopia (Kadisco) for a consideration of $18.95 million (approximately Rs 117.6 crore) in cash. Certain regulatory approvals are pending from the governing authorities in Ethiopia in relation to the said acquisition, Asian Paints said. Kadisco is one of the leading paint companies in Ethiopia and is engaged in the manufacturing and selling of decorative paints, industrial paints, automotive paints, other coatings and adhesives in Ethiopia.
ACC after market hours yesterday, 10 February 2015, said that limestone mining operations have resumed at the captive mines of the company's Chaibasa cement plant in Jharkhand in terms of the recent Mines and Minerals (Development and Regulations) Ordinance 2015. Earlier, ACC had on 10 October 2014 announced temporary suspension of mining operations at its Chaibasa and Bargarh cement plants pursuant to a judgement of the Supreme Court under deemed extension of second and subsequent renewals of mining leases.
Meanwhile, macroeconomic data to be released by the government in the coming days is likely to show deceleration in industrial production growth in December 2014 and acceleration in inflation in January 2015. The rate of inflation based on the consumer price index (CPI) is seen accelerating to 5.5% in January 2015 from 5% in December 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will unveil CPI data for January 2015 at 17:30 IST on Thursday, 12 February 2015.
The rate of inflation based on the wholesale price index (WPI) is seen accelerating to 0.4% in January 2015 from 0.1% in December 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will unveil WPI data for January 2015 at 12.10 noon on 16 February 2015.
Growth in industrial production is seen decelerating to 1.5% in December 2014 from 3.8% expansion in November 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will industrial production data for December 2014 at 17:30 IST on Thursday, 12 February 2015. All these projections related to CPI, WPI and industrial production growth are based on the old series data with 2004-05 as base year. It may be recalled that the Ministry of Statistics & Programme Implementation revised the way it measures GDP on 30 January 2015. It brought forward the base year used in national economy calculations by seven years to 2011-12 from 2004-05. It also switched from using production costs to market prices. Changes in the base year are made every five years.
Advance estimates from the statistics ministry showing strengthening economic recovery in the current year and the latest data showing a strong economic expansion in Q3 December 2014 helped key equity benchmark indices register decent gains in what was an extremely choppy trading session on Tuesday, 10 February 2015. The S&P BSE Sensex advanced 128.23 points or 0.45% to settle at 28,355.62 on that day, its highest closing level since 6 February 2015.
Meanwhile, foreign portfolio investors sold shares worth a net Rs 1261.19 crore yesterday, 10 February 2015, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 851.32 crore yesterday, 10 February 2015, as per provisional data released by the stock exchanges.
Asian stocks edged higher today, 11 February 2015, after a firmer finish of US stocks yesterday, 10 February 2015. Key indices in China, Singapore, Taiwan, Indonesia, and South Korea were up 0.35% to 0.85%. Hong Kong's Hang Seng fell 0.78%. Japanese market is closed today for a holiday.
US stocks rose yesterday, 10 February 2015, buoyed by hopes for a deal between Greece and its international creditors.
In Europe, Euro zone finance ministers meet later today, 11 February 2015, and EU leaders tomorrow, 12 February 2015, to discuss the Greek debt crisis, but officials are already downplaying the chance of a breakthrough.
Powered by Capital Market - Live News
