Benchmark indices are trading mixed or flat in the pre-opening session with Nifty above 10,850 level.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 14.5 points or 0.13 percent. Nifty futures were trading around 10,897-level on the Singaporean Exchange.
At 09:02 hrs IST, the Sensex is up 41.39 points or 0.11% at 36510.82, and the Nifty down 30.00 points or 0.28% at 10863.70.
Vedanta gained 3 percent in pre-opening session, while Zee Entertainment, Hero Moto, DHFL, Reliance Infra, Reliance Capital are trading lower.
Rupee Opens :
The Indian rupee slipped in the early trade on Monday. It has opened lower by 36 paise at 71.60 per dollar on Monday versus Friday's close of 71.24.
The fiscal deficit for the current financial year is likely to be around 3.4% of GDP, marginally higher than the targeted 3.3%. Today, USD-INR pair is expected to quote in the range of 71.40 and 72.20
Also, Interim Budget would help benefit 30-40 crore of people in the rural areas, specifically to the small farmers and to the middle class as well. Aftermath winning chances of current government in the Lok Sabha elections looks quite high.
For the coming week, also 10,980-11,000 range will remain a challenging zone for bulls. But the technical structure is suggesting that the resistance is getting weaker every time and we could surpass it in days to come and in that case a big move towards 11,320 and 11,500 will not rule out. On the other hand support for the week exist at 10,701 and 10,580.
Global Markets :
US Market :
Wall Street ended mixed on Friday, as optimism from a surge in January US job growth was offset by a weaker-than-expected outlook from Amazon.com Inc that battered retail stocks, said a Reuters report.
Asian Markets :
Asia stocks were barely moved on Monday, staying near a four-month high after Wall Street’s tepid pre-weekend performance, while the dollar was supported against the yen following strong US jobs and manufacturing data, it said.
US tariffs hit Chinese economy 'very badly', says Donald Trump
The massive tariffs imposed by America on import of products from China has badly hit the economy of the Asian nation.
Last year, Trump imposed tariff hikes of up to 25 per cent on USD 250 billion of Chinese goods. The move prompted China to increase tariffs on USD 110 billion of American goods. During a meeting in Argentina on the sidelines of the G-20 Summit, Trump and Xi agreed to halt any further tariff increases for 90 days beginning January 1.
If no resolution is reached by the March 1 deadline, tariffs on USD 200 billion of Chinese goods are set to increase from 10 per cent to 25 per cent, a prospect that has rattled the global market because of the inevitable economic damage.
Domestic Markets :
Results Today: Aban Offshore, Balrampur Chini, Ajmera Realty, Capacite Infraprojects, Exide, Godrej Agrovet, Lumax Industries, Sun Pharma Advanced, SREI Infra, SRF, Texmaco Rail, Whirlpool of India
Listing Today: Xelpmoc Design and Tech
Here are the stocks that are in news today:
Titan Q3
Net profit up 35 percent at Rs 416 crore, revenue up 34.4 percent at Rs 5,672.2 crore
H.G. Infra Engineering Q3
Net profit rose to Rs 35.25 crore vs Rs 18.95 crore, revenue up at Rs 550.59 crore vs Rs 321.61 crore, YoY
Artson Engineering Q3
Net loss at Rs 1.06 crore vs profit of Rs 40.86 crore, revenue at Rs 29.79 crore vs Rs 23.04 crore, YoY
Equitas Holdings Q3
Net profit at Rs 62.5 crore as compared to loss of Rs 30 crore in Q3FY18
Voltamp Transformers Q3
Net profit down at Rs 22.22 crore as compared to Rs 23.60 crore in Q3FY18
MOIL Q3
Net profit up 15.9 percent at Rs 120.2 cr vs Rs 103.7 cr (YoY)
JSPL Q3
Cons net loss at Rs 87.2 cr vs loss of Rs 276.9 cr (YoY)
Syndicate Bank Q3
Net profit at Rs 107.9 cr vs loss of Rs 869.7 cr (YoY)
Future Life Q3
Net profit up 46.3 percent at Rs 55 cr vs Rs 37.6 cr (YoY)
Filatex India Q3
Net profit up 13.2 percent at Rs 16.3 cr vs Rs 14.4 cr (YoY)
Central Bank Of India Q3
Net loss at Rs 718.2 cr vs loss of Rs 1,664.2 cr (YoY)
Ramkrishna Forgings Q3
Net profit up 22 percent at Rs 33.8 cr vs Rs 27.7 cr (YoY)
Relaxo Footwears Q3
Net profit down 6.3 percent at Rs 35.6 cr vs Rs 38 cr (YoY)
JK Cement Q3
Net Profit down 16.5 percent at Rs 60.9 cr vs Rs 72.9 cr (YoY)
Godfrey Phillips Q3
Net Profit up 26.7 percent at Rs 78.4 cr vs Rs 61.9 cr (YoY)
BEML Q3
Net profit at Rs 44 cr vs Rs 16.6 cr (YoY)
Tata Motors January auto sales:
Total domestic sales down 8% at 54,915 units vs 59,441 units CV domestic sales down 6% at 37,089 units vs 39,386 units, YoY Wipro launches Next-Gen ATSC 3.0 Digital TV receiver solution
National Fertilizers declared payment of interim dividend of Rs 1.09 (10.90%) per equity share for the financial year 2018-19
DHFL approved disinvest to BCP Topco VII Pte. 23,01,090 (9.15%) equity shares in Aadhar Housing Finance
Banco Produsts board meeting on February 12 to consider unaudited financial results for the quarter and period ended on 31.12.2018.
Religare Enterprises board meeting on February 12 to consider unaudited financial results for the quarter and period ended on 31.12.2018.
Rashtriya Chemicals and Fertilizers board meeting on February 12 to consider unaudited financial results for the quarter and period ended on 31.12.2018.
Berger Paints appointed Anoop Hoon and Sonu Bhasin as additional, non-executive and independent directors
Manappuram Finance to consider declaration of interim dividend on February 06
Ajanta Pharma approved the proposal to buyback fully paid up equity shares of the company
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