India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details �� ��
Views on markets today
· Indian markets extended winning streak for third straight day on yesterday, ending volatility marked session on a positive note after inflation eased to its lowest level in a year for November and reinforced hopes for steady interest rates in the RBI’s policy reviews meet this week. Except auto, all sectoral indices closed positive with consumer durable, metal, real estate and capital goods were major gainers. However, Hero Honda bucked the trend and skidded 3.3% on concerns that the royalty payments to the firm's Japanese collaborator may rise sharply as Hero Honda would continue to use the Japanese company's technology even after the breakup of the joint venture.
· Market breadth was strong at ~2.06x as investors bought large cap stocks. Both FIIs and domestic institutions bought equities worth `33.53Cr and `3.49bn, respectively.
· The Asian markets are trading lower this morning. The Nikkei is trading flat to negative on the news that the Bank of Japan's latest tankan survey showed sentiment among big manufacturers worsened for the first time in seven quarters. However, the tankan result was somewhat expected so the impact on the stock market would be limited. The Hang Seng is also trading negative.
· The Indian markets are expected to open lower in the opening trade tacking weak Asian stocks. The oil marketing companies will be in focus after the state-run oil marketing companies have decided to increase the price of petrol by around Rs2.95 a litre to pass on the impact of rising crude prices. The eagerly awaited Q3 advance tax numbers of top Indian companies will flow from today; this will lead to some direction to the markets.
Key events today
Listing of IPO of MOIL Ltd. (NSE: MOIL, BSE code: issue price: Rs375 per share.
Economic and Corporate Developments
· India’s inflation rate slowed in November to its lowest level since January. The benchmark wholesale price index rose 7.48% in November from a year earlier, slower than the previous month’s 8.58% increase.
· State-run oil firms have decided to raise petrol prices by about Rs3 to partly make up for higher cost of crude oil, but diesel rates remain unchanged for the time being.
No comments:
Post a Comment