A man reads a newspaper in front of an electronic board at a brokerage house in Beijing, China, June 27, 2016. REUTERS/Kim Kyung-Hoon/File Photo - RTX2IYAT
The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 78 points gain.
The BSE Sensex was up 12.78 points at 51,544.30 on February 12 while the Nifty50 declined 10 points to 15,163.30. According to pivot charts, the key support levels for the Nifty are placed at 15,081.7, followed by 15,000.1. If the index moves up, the key resistance levels to watch out for are 15,244.2 and 15,325.1.
Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
The S&P 500 and Nasdaq set record closing highs on Friday as investors bought energy, financial and materials shares and sold big tech stocks in anticipation of new fiscal aid from Washington to help the U.S. economy recover.
The Dow Jones Industrial Average rose 27.7 points, or 0.09%, to 31,458.4, the S&P 500 gained 18.45 points, or 0.47%, to 3,934.83 and the Nasdaq Composite added 69.70 points, or 0.5%, to 14,095.47.
Asian shares advanced to record highs on Monday and oil rose to a more than one year peak as successful coronavirus vaccine rollouts globally raise hopes of a rapid economic recovery amid new fiscal aid from Washington.
Japan’s Nikkei climbed 1.3%, despite data showing the country’s recovery from its worst postwar recession slowed in the fourth quarter. Australia’s benchmark index was up 1%.
Trends on SGX Nifty indicate a positive opening for the index in India with a 78 points gain. The Nifty futures were trading at 15,236 on the Singaporean Exchange around 07:30 hours IST.
Oil rises on fears of heightened tensions in Middle East
Oil prices rose to their highest in more than a year on Monday, after a Saudi-led coalition fighting in Yemen said it intercepted an explosive-laden drone fired by the Iran-aligned Houthi group, raising fears of fresh Middle East tensions.
Brent crude was up 66 cents, or 1.1%, at $63.09 a barrel at 0004 GMT, after climbing to a session high of $63.44, the highest since Jan. 22, 2020.
January CPI inflation comes in at 4.06%
Consumer Price Index-based inflation (CPI) for the month of January came in at 4.06 per cent, the second consecutive month of retail inflation falling within the Monetary Policy Committee’s medium-term inflation target range of 4 (+/-2 percent), official data showed on February 12.
The biggest drop in prices came in the vegetables ‘sub-group’. Vegetable inflation was -15.84 percent year-on-year. However, inflation in the case of pulses, meat and fish and eggs showed high inflation, at 13.39 percent, 12.54 percent, and 12.85 percent, respectively.
IIP turns positive in December, grows by 1% after temporary blip in November
Index of Industrial Production (IIP) for the month of December turned positive again and showed an expansion of 1 percent, primarily led by basic metals, pharmaceutical and petrochemical products, and an overall positive growth in the manufacturing sector.
“For the month of December 2020, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 135.9. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of December 2020 stand at 115.1, 137.5 and 158.0 respectively,” the National Statistical Office (NSO) said in a press release on February 12.
FPIs invest Rs 22,038 crore in February so far amid post-Budget cheer
Continuing their buying trend, foreign portfolio investors (FPIs) have pumped in a net Rs 22,038 crore into the Indian markets in February so far amid positive sentiments around the Union Budget. According to depositories data, overseas investors poured in Rs 20,593 crore into equities and Rs 1,445 crore in the debt segment, taking the total net investment to Rs 22,038 crore during February 1-12.
Sebi extends timeline for submission of comments on proposal to new appointments
Markets regulator Sebi on Friday extended to February 26 the last date for submission of public comments on a proposal regarding appointment of managing directors and whole-time directors.
The proposal is aimed at ensuring shareholder supremacy on the appointment of such positions. The regulator, through the consultation paper, had proposed that a person rejected by a listed company's shareholders as a managing director or whole-time director can be appointed or re-appointed to the post only after the company fulfils various conditions, including providing detailed justifications.
Results on February 15
Jet Airways, Alora Trading Company, Advance Syntex, CDG Petchem, Emmsons International, Eureka Industries, Hawa Engineers, Hindustan Everest Tools, JIK Industries, Kerala Ayurveda, PG Foils, Archana Software, Sunraj Diamond Exports, Vishvprabha Ventures and Vantage Knowledge Academy are among 23 companies to announce their quarterly earnings on February 15.
India's forex reserves down by $6.24 billion to $583.945 billion
The country’s foreign exchange reserves declined by a massive USD 6.24 billion to reach $583.945 billion in the week ended February 5, RBI data showed on Friday. In the previous week, the reserves had touched a record high of $590.185 billion after rising by $4.852 billion.
In the reporting week ended February 5, the decline in the forex kitty was mainly on account of a fall in foreign currency assets (FCAs), a major component of the overall reserves.
SC asks SBI mutual fund to oversee winding up of Franklin Templeton’s debt schemes
The Supreme Court (SC) on Friday quashed all objections to the e-voting results and gave the mandate to SBI Funds Management to oversee the winding-up of Franklin Templeton’s wound-up debt schemes.
“Franklin Templeton Mutual Fund will provide all assistance and co-operation to SBI Funds Management to monetise the assets. The decision of the Hon’ble Supreme Court to dispense with voting u/r 41 reduces any potential delay in commencing active monetisation of assets,” a spokesperson for FT MF said.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 37.33 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 597.62 crore in the Indian equity market on February 12, as per provisional data available on the NSE.
2 stocks under F&O ban on NSE
BHEL and SAIL are under the F&O ban for February 15. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.With inputs from Reuters & other agencies