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Market Ahead, Feb 14: WPI inflation nos to guide market sentiment today

Investors on Thursday are likely to keep an eye on the wholesale price index (WPI) inflation numbers for January 2019, which will be released later in the day

BS Web Team  |  New Delhi 

Investors on Thursday are likely to keep an eye on the wholesale price index (WPI) inflation numbers for January 2019, which will be released later in the day. Apart from this, corporate results for December quarter, stock-specific action, movement of against the US dollar, prices and Sino-US tariff talks will influence market sentiment.

STOCKS IN FOCUS

YES Bank: YES Bank on Wednesday said the RBI has not found any divergence in the asset classification and provisioning done by the lender during 2017-18.

Fortis Healthcare: Fortis Healthcare on Wednesday reported a consolidated net loss of Rs 180.11 crore for the quarter ended December 31, 2018, mainly on account of exceptional losses.

JET Airways: Jet Airways deal is likely to be finalised by March, said a Business Standard report.The Jet restructuring would mean three board seats going to Etihad as it may turn out to be the largest shareholder, the report added.

RESULTS TODAY

Over 750 companies are slated to release their financial results for December quarter. Some of the notable names include Ashok Leyland, B.A.G.Films & Media, Deepak Fertilisers, Eveready Industries, Glenmark Pharmaceuticals, HDIL, Indiabulls Real Estate, Infibeam Avenues, Jet Airways, MMTC and MSPL.

FOREX MARKET

Snapping its six-day winning run, the Wednesday settled 10 paise lower at 70.80 against the US dollar amid rising crude prices and heavy foreign fund outflows.

GLOBAL MARKETS

Asian stocks were muted in the early trade on Thursday as investors hoped for progress in the latest Sino-US tariff talks while bracing for China trade data that are expected to show further falls in both exports and imports. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat while Japan’s Nikkei edged up 0.3 per cent to its highest for the year so far.

In the overnight trade, US stocks ended on a positive note. The Dow ended Wednesday up 0.36 per cent, while the S&P 500 gained 0.30 per cent and the Nasdaq 0.26 per cent.

OIL MARKETS

Oil prices inched up on Thursday. On Wednesday, WTI crude futures closed 1.5 per cent higher while International Brent futures settled 1.9 per cent up.

Investors give a thumbs up to the offer for sale of Axis Bank

Investors gave a thumbs up to the offer for sale (OFS) of Axis Bank. According to data available on the exchanges at 7 pm, the OFS was subscribed 3.68 times on Wednesday, the second day of the offer. The investors bid for 28.37 million shares against 7.7 million reserved for them. Both retail and non-retail investors had made bids for Wednesday’s sale.

On Tuesday, the portion for non-retail investors was subscribed 1.68 times, and the Specified Undertaking of Unit Trust of India (SUUTI) informed the exchanges it has decided to exercise the greenshoe option to sell an additional 26 million or 1.02 per cent of equity shares in the company. which will be released later in the day. Apart from this, corporate results for December quarter, stock-specific action, movement of against the US dollar, prices and Sino-US tariff talks will influence market sentiment.

STOCKS IN FOCUS

YES Bank: YES Bank on Wednesday said the RBI has not found any divergence in the asset classification and provisioning done by the lender during 2017-18.

Fortis Healthcare: Fortis Healthcare on Wednesday reported a consolidated net loss of Rs 180.11 crore for the quarter ended December 31, 2018, mainly on account of exceptional losses.

JET Airways: Jet Airways deal is likely to be finalised by March, said a Business Standard report.The Jet restructuring would mean three board seats going to Etihad as it may turn out to be the largest shareholder, the report added.

RESULTS TODAY

Over 750 companies are slated to release their financial results for December quarter. Some of the notable names include Ashok Leyland, B.A.G.Films & Media, Deepak Fertilisers, Eveready Industries, Glenmark Pharmaceuticals, HDIL, Indiabulls Real Estate, Infibeam Avenues, Jet Airways, MMTC and MSPL.

FOREX MARKET

Snapping its six-day winning run, the rupee Wednesday settled 10 paise lower at 70.80 against the US dollar amid rising crude prices and heavy foreign fund outflows.

GLOBAL MARKETS

Asian stocks were muted in the early trade on Thursday as investors hoped for progress in the latest Sino-US tariff talks while bracing for China trade data that are expected to show further falls in both exports and imports. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat while Japan’s Nikkei edged up 0.3 per cent to its highest for the year so far.

In the overnight trade, US stocks ended on a positive note. The Dow ended Wednesday up 0.36 per cent, while the S&P 500 gained 0.30 per cent and the Nasdaq 0.26 per cent.

OIL MARKETS

Oil prices inched up on Thursday. On Wednesday, WTI crude futures closed 1.5 per cent higher while International oil futures settled 1.9 per cent up.

Investors give a thumbs up to the offer for sale of Axis Bank

Investors gave a thumbs up to the offer for sale (OFS) of Axis Bank. According to data available on the exchanges at 7 pm, the OFS was subscribed 3.68 times on Wednesday, the second day of the offer. The investors bid for 28.37 million shares against 7.7 million reserved for them. Both retail and non-retail investors had made bids for Wednesday’s sale.

On Tuesday, the portion for non-retail investors was subscribed 1.68 times, and the Specified Undertaking of Unit Trust of India (SUUTI) informed the exchanges it has decided to exercise the greenshoe option to sell an additional 26 million or 1.02 per cent of equity shares in the company., which will be released later in the day. Apart from this, corporate results for December quarter, stock-specific action, movement of rupee against the US dollar, crude oil prices and Sino-US tariff talks will influence market sentiment.

STOCKS IN FOCUS

YES Bank: YES Bank on Wednesday said the RBI has not found any divergence in the asset classification and provisioning done by the lender during 2017-18.

Fortis Healthcare: Fortis Healthcare on Wednesday reported a consolidated net loss of Rs 180.11 crore for the quarter ended December 31, 2018, mainly on account of exceptional losses.

JET Airways: Jet Airways deal is likely to be finalised by March, said a Business Standard report.The Jet restructuring would mean three board seats going to Etihad as it may turn out to be the largest shareholder, the report added.

RESULTS TODAY

Over 750 companies are slated to release their financial results for December quarter. Some of the notable names include Ashok Leyland, B.A.G.Films & Media, Deepak Fertilisers, Eveready Industries, Glenmark Pharmaceuticals, HDIL, Indiabulls Real Estate, Infibeam Avenues, Jet Airways, MMTC and MSPL.

FOREX MARKET

Snapping its six-day winning run, the rupee Wednesday settled 10 paise lower at 70.80 against the US dollar amid rising crude prices and heavy foreign fund outflows.

GLOBAL MARKETS

Asian stocks were muted in the early trade on Thursday as investors hoped for progress in the latest Sino-US tariff talks while bracing for China trade data that are expected to show further falls in both exports and imports. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat while Japan’s Nikkei edged up 0.3 per cent to its highest for the year so far.

In the overnight trade, US stocks ended on a positive note. The Dow ended Wednesday up 0.36 per cent, while the S&P 500 gained 0.30 per cent and the Nasdaq 0.26 per cent.

OIL MARKETS

Oil prices inched up on Thursday. On Wednesday, WTI crude futures closed 1.5 per cent higher while International oil futures settled 1.9 per cent up.

Investors give a thumbs up to the offer for sale of Axis Bank

Investors gave a thumbs up to the offer for sale (OFS) of Axis Bank. According to data available on the exchanges at 7 pm, the OFS was subscribed 3.68 times on Wednesday, the second day of the offer. The investors bid for 28.37 million shares against 7.7 million reserved for them. Both retail and non-retail investors had made bids for Wednesday’s sale.

On Tuesday, the portion for non-retail investors was subscribed 1.68 times, and the Specified Undertaking of Unit Trust of India (SUUTI) informed the exchanges it has decided to exercise the greenshoe option to sell an additional 26 million or 1.02 per cent of equity shares in the company.

First Published: Thu, February 14 2019. 07:54 IST
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