It is a strong start for the Indian indices on Wednesday with Nifty is trading around 10,700.
At 09:17 hrs IST, the Sensex is up 148.83 points at 35741.33, while Nifty is up 41.10 points at 10693.30. About 472 shares have advanced, 299 shares declined, and 35 shares are unchanged.
Axis Bank, HCL Tech, Bank of Baroda, Bajaj Finserv, Indiabulls Housing, Yes Bank, ICICI Bank are among major gainers on the indices, while losers include Adani Ports, BPCL, HDFC Bank, Hero Moto, Dr Reddy's Lab.
Rupee Opens:
The Indian rupee opened lower by 25 paise at 71.36 per dollar on Wednesday against Tuesday's close 71.11.
On the domestic front, market participants will remain cautious and if there is a change in fiscal deficit target for next year rupee could come under pressure. The US and China launch a critical round of trade talks amid deep differences over U.S. demands for structural economic reforms from Beijing that will make it difficult to reach a deal before a March 2 U.S. tariff hike.
The two sides will meet next door to the White House in the highest-level talks since US President Donald Trump and Chinese President Xi Jinping agreed a 90-day truce in their trade war in December
Global Market :
UK parliament rejects Labour's Brexit amendment :
The proposal, put forward by the opposition Labour Party, was opposed by Prime Minister Theresa May.
British lawmakers voted 327 to 296 on Tuesday against a proposal which called for parliament to consider alternative options to prevent Britain leaving the European Union without a deal.
Crude Update:
Oil prices were stable on Tuesday, pressured by a cloudy outlook for the global economy but supported by worries over disruptions to supply from US sanctions on Venezuelan exports.
US markets end mixed:
Wall Street was mixed on Tuesday, with Alphabet, Facebook and other technology-related shares dipping, while a rebound in 3M and other industrials elevated the Dow Jones Industrial Average.
Asian markets trade lower:
US stock futures and Asian equities eked out modest gains on Wednesday as investors seized on Apple Inc's earnings and comments from its chief that US-China trade tensions were easing, sending the iPhone maker's shares soaring in after-hours trade.
SGX Nifty:
Trends on SGX Nifty indicate a flat opening for the broader index in India. Nifty futures were trading around 10,693.50-level on the Singaporean Exchange.
Domestic Market :
Country's largest private sector lender ICICI Bank is likely to show further improvement in earnings with loan growth and net interest income in double digits.
Slippages may moderate and asset quality is likely to be stable in Q3. Profitability is likely to be supported by higher treasury income and pre-provisioning profit during the quarter.
Brokerages expect 5-40 percent on-year growth in profit but sequentially it is expected to show a massive 80-150 percent increase on a low base.
Reliance Securities, Motilal Oswal, Edelweiss Securities and Sharekhan expect more than 100 percent increase QoQ in profitability.
Key issues to watch out for
Movement of watch-list accounts
Outlook on asset quality and trend on further relapse from restructured loans
Growth in CASA + retail term deposits
Results on January 30:
ICICI Bank, Bajaj Auto, Indian Oil Corporation, NTPC, Alembic, Jubilant Foodworks, Jindal Stainless (Hisar), MAS Financial Services, Mahindra Logistics, Chemfab Alkalis, Aavas Financiers, GMM Pfaudler, Security and Intelligence Services (India), GP Petroleums, Arvind SmartSpaces, Diligent Media Corporation, KIOCL.
Here are stocks that are in the news today:
Axis Bank Q3: Profit surges to Rs 1,680.8 crore versus Rs 726 crore; NII rises 18.4 percent to Rs 5,603.6 crore versus Rs 4731.5 crore YoY.
Gross NPA improves to 5.75 percent versus 5.94 percent and net NPA to Rs 2.36 percent versus 2.54 percent QoQ.
HCL Technologies Q3: Profit rises 2.8 percent to Rs 2,611 crore versus Rs 2,540 crore; revenue jumps 5.6 percent to Rs 15,699 crore versus Rs 14,861 crore QoQ. Revenue in constant currency also up 5.6 percent QoQ.
Bank of Baroda Q3: Profit jumps to Rs 471.2 crore versus Rs 111.8 crore; NII grows 7.9 percent to Rs 4,743.2 crore versus Rs 4,394 crore YoY. Net NPA improves to 4.26 percent versus 4.86 percent and gross NPA to 11.01 percent versus 11.78 percent QoQ.
Apar Industries Q3: Profit falls 12.2 percent to Rs 35 crore versus Rs 40 crore; revenue increases 41.4 percent to Rs 2,119 crore versus Rs 1,498.9 crore YoY.
Godrej Consumer Q3: Profit slips 1.5 percent to Rs 424 crore versus Rs 430 crore; revenue increases 3.5 percent to Rs 2,721.9 crore versus Rs 2,630.3 crore YoY.
Granules India Q3: Profit jumps 72.3 percent to Rs 60 crore versus Rs 35 crore; revenue surges 53.8 percent to Rs 631.8 crore versus Rs 410.7 crore YoY.
Ramco Industries Q3: Profit dips 8 percent to Rs 10.7 crore versus Rs 11.7 crore; revenue drops 0.1 percent to Rs 181.3 crore versus Rs 181.4 crore YoY.
DCM Shriram Q3: Consolidated profit rises 5.7 percent to Rs 225 crore versus Rs 212.8 crore; revenue increases 18.6 percent to Rs 2,115.2 crore versus Rs 1,783.7 crore YoY.
Bajaj FinServ Q3: Consolidated profit jumps 16.4 percent to Rs 851 crore versus Rs 730.5 crore; revenue rises 24 percent to Rs 29,611 crore versus Rs 23,807 crore YoY.
KEC International Q3: Profit rises 0.6 percent to Rs 112.4 crore versus Rs 111.8 crore; revenue increases 10.1 percent to Rs 2,646.6 crore versus Rs 2,404.7 crore YoY.
Kingfa Science Q3: Profit falls 35 percent to Rs 530.9 crore versus Rs 817.1 crore; revenue dips 12.7 percent to Rs 16,336.7 crore versus Rs 18,704 crore QoQ.
Yes Bank: Madhu Kapur Group & Rana Kapoor Group to nominate one representative director each on board. Board approves & recommended to RBI an interim special duty. Director on interim special duty to have MD & CEO's responsibilities till March.
DCM Shriram: Company to invest Rs 1,070 crore in Bharuch plant.
Bosch buyback to open of February 6, closing date is February 20
L&T Technology - Offer for Sale opens on January 30 by L&T
Coal India - subsidiarries to buyback shares
Welspun Enterprises Q3: Profit jumps to Rs 43.4 crore versus Rs 15.65 crore; revenue rises to Rs 446.45 crore versus Rs 298.91 crore YoY.
Indiabulls Integrated Services Q3: Profit at Rs 1.5 crore versus loss at Rs 18.16 crore; revenue falls to Rs 42.63 crore versus Rs 45.04 crore YoY.
Analyst or Board Meet/Briefings
UCO Bank: Extraordinary General Meeting of the shareholders of the bank is scheduled to be held on February 20, 2019.
KEI Industries: Conference call will be organised by Edelweiss Securities Limited on February 5.
Graphite India: Company will announce its October-December quarter earnings on February 6.
Mangalam Drugs & Organics : Company will announce its October-December quarter earnings on February 11.
Siemens: Company will announce its October-December quarter earnings on February 6.
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