Moneycontrol
Apr 19, 2017 07:46 AM IST | Source: Moneycontrol.com

What changed for the market while you were sleeping? 12 things to know

A look at top cues from domestic as well as international markets that could have a bearing on D-Street on Wednesday.

What changed for the market while you were sleeping? 12 things to know

The Nifty is likely to start on a flat note on Wednesday, tracking muted handover from Wall Street. The Nifty closed below its short term moving averages such as 20-days exponential moving average, 5-DEMA, 13-DEMA, and 10-DEMA.

Here are top cues from domestic as well as international markets that could have a bearing on D-Street.

TCS Q4 net profit fell 2.5% QoQ

TCS will be in focus after India’s largest software exporter reported 2.5 percent QoQ fall in consolidated profit to Rs 6,608 crore on lower-than-expected growth in topline.

Revenue during the quarter declined 0.3 percent to Rs 29,642 crore QoQ, dented by subdued growth in key segments like BFSI and retail.

Wall Street ends flat

US stocks closed marginally lower for the fourth time in five sessions on Tuesday, weighed down by a drop in Goldman Sachs and Johnson & Johnson following their quarterly results.

Goldman Sachs lost 4.7 percent to USD 215.59, after hitting its lowest intraday level since November 29. The bank posted earnings that missed expectations as trading revenue dropped, said a report.

The Dow Jones Industrial Average fell 113.64 points, or 0.55 percent, to 20,523.28, the S&P 500 lost 6.83 points, or 0.29 percent, to 2,342.18 and the Nasdaq Composite dropped 7.32 points, or 0.12 percent, to 5,849.47.

SGX Nifty

The Nifty futures on the Singapore Stock Exchange were trading 2 points lower at 9,115 indicating a flat opening for the domestic market.

9 companies will report Q4 results today

Nine companies will report their results for the quarter ended March 31 on Wednesday which include names like IndusInd Bank, Jay Bharat Maruti, Mold-Tek Technologies, Network 18 Media & Investments Ltd, R.S Sofware, Sasken Technologies, Tayo Rolls, TV Broadcast, and Yes Bank.

Private sector lender IndusInd Bank is expected to report healthy growth in last quarter of the financial year 2016-17. Net profit is expected to increase 26.3 percent year-on-year to Rs Rs 783.5 crore.

Govt to sell 10% in Nalco on Wednesday

The government will open the first divestment account on Wednesday with up to 10 percent stake sale in National Aluminium Company (Nalco) and may mop up over Rs 600 crore.

In an exchange filing, Nalco told BSE that the promoters (government owns 74.58 percent and the rest with the public) will sell 5 percent aggregating 9.67 crore equity shares, through an offer for sale (OFS) tomorrow. Nalco has an option to divest an equal quantity, it added.

Donald Trump orders review of visa programme

IT stocks will be in focus after the US President Donald Trump, on Tuesday ordered federal agencies to look at tightening a temporary visa program used to bring high-skilled foreign workers to the United States, said a report.

Trump signed an executive order on enforcing and reviewing the H-1B visa, popular in the technology industry, on a visit to the headquarters of Snap-On Inc, a tool manufacturer in Kenosha, Wisconsin.

IMF pegs India’s growth at 7.2%

World Economic Outlook (WEO), the International Monetary Fund flagship publication, has revised upwards India's growth forecast for FY17 to 6.8 percent, just ahead of China's 6.7 percent for 2016 calendar.

IMF has retained its India growth forecast for FY18 at 7.2 percent and FY19 at 7.7 percent, well ahead of its forecast for China.

Dollar hits near 3-week low

The dollar dropped to a nearly three-week low against a basket of major currencies on Tuesday, weighed down by lower Treasury yields.

US Treasury yields fell as nervousness ahead of France’s first round of presidential elections this weekend and ongoing geopolitical tensions boosted demand for safe-haven US debt, said a report. The U.S. dollar index lost 0.45 percent to 99.842. It touched its lowest since March 29 at 99.799.

Sterling soars after UK PM calls early election

Sterling surged to its highest level since early December, up 1.5 percent at $1.2753 after British Prime Minister Theresa May called for an early general election.

May called for an early election on June 8, saying she needed to strengthen her hand in divorce talks with the European Union by bolstering support for her Brexit plan, said a report.

Rupee falls 11 paise against USD

The rupee lost ground against the US currency on Tuesday and closed lower by 11 paise at 64.63 on dollar demand from importers amid growing geopolitical unrest. Foreign investors sold shares worth Rs 930.67 crore on a net basis, provisional exchange data showed.

NSE probing F&O trades in Indiabulls Real Estate

The National Stock Exchange is probing the trades in equity derivatives of Indiabulls Real Estate following the huge swings in price in the last couple of trading sessions, a source told Moneycontrol.

Another source said that the Securities and Exchange Board of India too had the stock on its radar. On Monday, the Indiabulls Real Estate stock surged 40 percent after the company announced that it was restructuring operations by separating the residential and commercial businesses.

Fuel pumps in eight states to be shut on Sundays

Beginning May 14, fuel outlets in eight states will be shut every Sunday following Prime Minister Narendra Modi's call to conserve oil, a fuel pump owners' body said on Tuesday.

"We had planned to shut our outlets on Sundays a few years back. But oil marketing companies had then requested us to reconsider our decision. Now we have decided to shut the outlets on Sundays," said Suresh Kumar, an executive committee member of the consortium of Indian petroleum dealers.
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