MARKET COMMENTARY
The market is headed for a lower start as most Asian stocks fell. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 13.50 points at the opening bell. Asian stocks were trading mostly lower today, 9 January 2014 after a lackluster performance on Wall Street overnight.
Foreign institutional investors (FIIs) bought shares worth a net Rs 79.68 crore on Wednesday, 8 January 2014, as per provisional data from the stock exchanges.
The next major trigger for the stock market is Q3 December 2013 corporate earnings. Investors & analysts will closely watch the management commentary that would accompany the result to see if there is any revision in their future earnings forecast of the company for the current year and/or the next year. The Q3earnings season begins after this week when IT major Infosys & private sector bank IndusInd Bank unveil their earnings on Friday, 10 January 2014.
US stocks closed mostly lower on Wednesday, 8 January 2014 after minutes from the last Federal Open Market Committee meeting showed that a majority of officials judged the effects of the monthly asset purchases to be diminishing over time.
The US government will unveil the influential non-farm payroll report for December 2013 tomorrow, 10 January 2014.
NEWS UPDATES
- NHPC in MoU with Kerala government to develop wind power project in Palakkad -Department of Telecommunication
secretary says group of ministers to meet again on BSNL, MTNL revival soon
- Tata Steel gets 0.2 mt rail steel supply order from French company
- Glenmark Pharma shakes up lucrative anti-diabetic market with its generics, prices its drugs
-RBI revises investment valuations norms for regional rural banks,
-Revises norms for non-banking finance companies (NBFCs) lending against gold jewellery with immediate effect -Gold
loan companies loan-to-value ratio hiked to up to 75 percent versus 60 percent -Gold loan NBFCs to have policy to verify
owner of pledged gold.
-Apollo Tyres -Promoters release pledge on 49.5 lakh shares
-Swiss Finance Corporation (Mauritius) sells 42 lakh shares at Rs 107.5/share.
-UPL -Share buyback to commence on Jan 9 &, ends on July 9
-Buy-back of equity shares up to 1.4 crore shares at an offer price of Rs 220 per share.
- ONGC & Coal India to form bulk of Exchange Traded Fund
-ONGC likely to form 25 percent of basket, Coal India to form 17-18
-Discount for retail investors likely in PSU ETF -Government likely to obtain approximately Rs 3,000 crore from PSU ETF.
Jubilant Foodworks : RBI says -FII share purchase limit in Jubilant Foodworks reaches trigger limit
-Further purchases of equity shares only allowed after prior RBI approval.
Bankers tell government no demand for IOC issue.
-Bankers tell government not to go ahead with IOC divestment
-IOC deal size to be Rs 4500 crore -Bankers recommend floor price close to market price
-Finance ministry says challenging for IOC stake sale to go through
-Oil ministry opposed to IOC divestment
-IOC stake sale only if FM manages to obtain oil minister on board.
Stock Market Tips
Source: Research4u
The market is headed for a lower start as most Asian stocks fell. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 13.50 points at the opening bell. Asian stocks were trading mostly lower today, 9 January 2014 after a lackluster performance on Wall Street overnight.
Foreign institutional investors (FIIs) bought shares worth a net Rs 79.68 crore on Wednesday, 8 January 2014, as per provisional data from the stock exchanges.
The next major trigger for the stock market is Q3 December 2013 corporate earnings. Investors & analysts will closely watch the management commentary that would accompany the result to see if there is any revision in their future earnings forecast of the company for the current year and/or the next year. The Q3earnings season begins after this week when IT major Infosys & private sector bank IndusInd Bank unveil their earnings on Friday, 10 January 2014.
US stocks closed mostly lower on Wednesday, 8 January 2014 after minutes from the last Federal Open Market Committee meeting showed that a majority of officials judged the effects of the monthly asset purchases to be diminishing over time.
The US government will unveil the influential non-farm payroll report for December 2013 tomorrow, 10 January 2014.
NEWS UPDATES
- NHPC in MoU with Kerala government to develop wind power project in Palakkad -Department of Telecommunication
secretary says group of ministers to meet again on BSNL, MTNL revival soon
- Tata Steel gets 0.2 mt rail steel supply order from French company
- Glenmark Pharma shakes up lucrative anti-diabetic market with its generics, prices its drugs
-RBI revises investment valuations norms for regional rural banks,
-Revises norms for non-banking finance companies (NBFCs) lending against gold jewellery with immediate effect -Gold
loan companies loan-to-value ratio hiked to up to 75 percent versus 60 percent -Gold loan NBFCs to have policy to verify
owner of pledged gold.
-Apollo Tyres -Promoters release pledge on 49.5 lakh shares
-Swiss Finance Corporation (Mauritius) sells 42 lakh shares at Rs 107.5/share.
-UPL -Share buyback to commence on Jan 9 &, ends on July 9
-Buy-back of equity shares up to 1.4 crore shares at an offer price of Rs 220 per share.
- ONGC & Coal India to form bulk of Exchange Traded Fund
-ONGC likely to form 25 percent of basket, Coal India to form 17-18
-Discount for retail investors likely in PSU ETF -Government likely to obtain approximately Rs 3,000 crore from PSU ETF.
Jubilant Foodworks : RBI says -FII share purchase limit in Jubilant Foodworks reaches trigger limit
-Further purchases of equity shares only allowed after prior RBI approval.
Bankers tell government no demand for IOC issue.
-Bankers tell government not to go ahead with IOC divestment
-IOC deal size to be Rs 4500 crore -Bankers recommend floor price close to market price
-Finance ministry says challenging for IOC stake sale to go through
-Oil ministry opposed to IOC divestment
-IOC stake sale only if FM manages to obtain oil minister on board.
Stock Market Tips
Source: Research4u
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