Market Opens:
Benchmark indices are trading lower on the Thursday morning with Nifty is hovering around 10,750 level.
At 09:18 hrs IST, the Sensex is down 52.52 points at 35981.59, while Nifty is down 26.20 points at 10767.50. About 304 shares have advanced, 495 shares declined, and 30 shares are unchanged.
Karur Vysya Bank, IOC, BPCL, HPCL, Reliance Capital, Repco Home Finance, DHFL, RIL, Kotak Mahindra Bank are among major losers, while Yes Bank is up 27 percent, while Tata Motors, L&T are other major gainers.
Except auto and pharma all other sectoral indices are trading lower.
Rupee Opens:
The Indian rupee opened lower at 70.87 per dollar on Thursday versus previous close 70.80.
Global Market :
SGX Nifty:
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 38 points or 0.35 percent. Nifty futures were trading around 10,765-level on the Singaporean Exchange.
Wall Street (U.S.) ends higher:
Wall Street closed higher on Wednesday as investor optimism was stoked over hopes the United States and China could iron out a trade deal, and benign inflation data suggested the Federal Reserve would hold interest rates steady in the near term.
Asian markets trade mixed:
Asian stock markets started in a cautious mood on Thursday as investors hoped for progress in the latest Sino-US tariff talks while bracing for China trade data that are expected to show further falls in both exports and imports.
Commodity Market :
Gold rises on hopes of Fed pause; trade talks in focus
U.S. consumer prices were unchanged for a third straight month in January, leading to the smallest annual increase in inflation in more than 1-1/2 years, which could allow the Federal Reserve to hold interest rates steady for a while.
Spot gold was up 0.2 percent at $1,308.20 per ounce, as of 0105 GMT.
U.S. gold futures were down 0.3 percent at $1,311.
U.S. Treasury Secretary Steven Mnuchin said talks with China went well on Wednesday, as the world's two largest economies try to hammer out an agreement.
Spain's parliament rejected a draft 2019 budget on Wednesday after Catalan separatists turned their back on the government, pushing the country close to an early national election amid an increasingly fragmented political landscape.
BNP Paribas on Wednesday said it expects gold prices to average $1,330 per ounces in 2019 and $1,415 per ounces in 2020.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, dropped 0.26 percent to 796.85 tonnes on Wednesday from 798.89 tonnes on Tuesday.
Barrick Gold Corp on Wednesday forecast a double-digit jump in gold output this year, underscoring the growth potential of the world's largest publicly traded bullion producer after it bought rival Randgold Resources last month.
Russia's Finance Ministry said on Wednesday that Russia had produced 314.42 tonnes of gold and 1,119.95 tonnes of silver in 2018.
The Italian government has no intention of selling the Bank of Italy's gold reserves to plug budget holes, a prominent lawmaker of the ruling League party said on Wednesday.
Oil prices edge up on hopes for US-China trade breakthrough
U.S. West Texas Intermediate (WTI) crude futures were at $53.76 per barrel at 2338 GMT, up 10 cents, or 0.2 percent, from their last settlement. They closed up 1.5 percent on Wednesday, having touched their highest since Feb. 5 at $54.60 a barrel.
The 90-day truce (on trade) agreed in December will run out on March 1, but given the progress of the talks there could be an extension, which is why there are rising optimism that the two leaders will meet later that month.
But climbing U.S. oil stockpiles weighed on prices. U.S. crude oil inventories rose last week to the highest since November 2017 as refiners cut runs to the lowest since October 2017, the Energy Information Administration said on Wednesday.
Crude inventories built for a fourth week in a row, rising 3.6 million barrels to 450.8 million barrels in the week to Feb. 8. Analysts polled by Reuters forecast an increase of 2.7 million barrels.
The global oil market will struggle this year to absorb fast-growing crude supply from outside the Organization of the Petroleum Exporting Countries, even with the group's production cuts and U.S. sanctions on Venezuela and Iran
Domestic Markets :
Results on February 14: Oil & Natural Gas Corporation, Ashok Leyland, Jet Airways (India), Indiabulls Real Estate, Glenmark Pharmaceuticals, Voltas, Shree Renuka Sugars, Vikas EcoTech, Liberty Shoes, AVT Natural Products, Megasoft, TPL Plastech, S&S Power Switchgears, Mohit Industries, Gammon Infrastructure Projects, Thiru Arooran Sugars,
IFCI, Parsvnath Developers, Magnum Ventures, Uttam Value Steels, Wanbury, Impex Ferro Tech, Provogue (India), Mandhana Industries, Videocon Industries, Visesh Infotecnics, W S Industries (I), Lypsa Gems & Jewellery, Nitin Fire Protection Industries, JMT Auto, Pearl Polymers
Here are stocks that are in the news today:
DHFL falls 5% after resignation of CEO Harshil Mehta
"However, he would continue to be associated with the company and shall hold the designation of Executive President -Retail Business with effect from February 14, 2019," DHFL said in a regulatory filing on stock exchanges.
A2Z Infra Engineering Q3: Profit increases to Rs 5.7 crore versus Rs 1.02 crore; revenue rises to Rs 152 crore versus Rs 89.44 crore YoY.
Ansal Properties and Infrastructure Q3: Loss at Rs 19.65 crore versus loss Rs 25.81 crore; revenue rises to Rs 117.5 crore versus Rs 94 crore YoY.
Cornelis Vrieswijk resigns as CEO of GoAir, Jehangir Wadia appointed as interim CEO of GoAir
Yes Bank- RBI finds no divergence in provisioning, asset classification
ABB India board gives in-principle approval to segregate Power Grids operations
Oracle Fin Services Q3 - Cons net profit up 5.7% at Rs 306 cr vs Rs 289.6 cr (YoY)
Lemon Tree Q3 - Cons net profit up 34% at Rs 14 cr Vs Rs 10.3 cr (YoY)
Mercator Q3 - Cons net loss of Rs 449.7 cr Vs loss of Rs 105.3 cr (YoY)
RSWM Q3 - Net loss of Rs 28.5 cr Vs profit of Rs 9.2 cr (YoY)
Fortis Q3 - Net loss at Rs 180.1 cr Vs loss of Rs 19.1 cr (YoY)
Quick Heal Technologies Q3: Profit jumps to Rs 16.09 crore versus Rs 7.97 crore; revenue rises to Rs 65.9 crore versus Rs 63.6 crore YoY.
Tamil Nadu Newsprint & Papers Q3: Profit surges to Rs 50 crore versus Rs 27 crore; revenue rises to Rs 1,103 crore versus Rs 944 crore YoY.
Reliance Capital Q3: Profit at Rs 89 crore versus loss Rs 603 crore; revenue falls to Rs 568 crore versus Rs 639 crore YoY.
HPL Electric & Power Q3: Consolidated profit at Rs 6.61 crore versus Rs 8.8 crore; revenue falls to Rs 259.44 crore versus Rs 276.3 crore YoY.
NBCC India Q3: Consolidated profit rises to Rs 83.65 crore versus Rs 68.34 crore; revenue jumps to Rs 2,438.8 crore versus Rs 1,886.3 crore YoY.
Gulf Oil Lubricants Q3: Profit rises to Rs 50 crore versus Rs 42.5 crore; revenue jumps to Rs 462 crore versus Rs 356 crore YoY.
Tata Power: Company collaborates with AES and Mitsubishi Corporation to power up South Asia's largest grid-scale energy storage system in India.
Godrej Industries: Board approved the Scheme of Arrangement (demerger) between Ensemble Holdings & Finance Limited (a wholly owned subsidiary) and Godrej Industries and their respective shareholders.
Pidilite International Pte, a WOS of Pidilite Industries in Singapore alongwith Crown Classics, a Company in Kenya, has promoted a joint venture company in Kenya namely Pidilite East Africa
IndusInd Bank : Board approved Establishment of Euro Medium Term Notes (EMTN) Programme of USD 1 billion Approved raising long-term financing through issue of Basel III-compliant Bonds for an amount not exceeding Rs 3000 crore on private placement basis
Creditaccess Gramin completed a direct assignment of Rs 275.28 crore
Reliance Capital approved the proposal of raising of resources by way of a public issue of Secured Redeemable NCD for an amount upto Rs 1750 crore
Analyst or Board Meet/Briefings
Kiri Industries: Conference Call to be held on February 15 to discuss the financial performance of the company for the quarter and nine months ended on December 2018.
Asian Paints: Company's officials will be attending Edelweiss Investor Conference on February 14, IIFL Investor Conference on February 14 and meeting analysts/investors in UBS Road Show on February 18.
Religare Enterprises: Board meeting is scheduled on February 16 to consider raising of fund.
Thyrocare Technologies: The representatives of Kayne Anderson Rudnick Investment Management LLC, USA and Macquarie Capital Securities (India) Private Limited, would be having a meeting with company's officials on February 14.
Matrimony.com: Company would be participating in the Investor/Analyst Conference on February 14 at Mumbai.
Inox Leisure: Company's officials will be meeting Spark Capital Advisors Pvt Ltd and BOB Capital Markets Ltd on February 15.
Tube Investments of India: Institutional Investors/Analyst Meeting to be held on February 15 and 19.
GlaxoSmithkline Consumer Healthcare: Analyst / Institutional Investors Meeting to be held on February 15.
Crompton Greaves Consumer Electricals: Company's officials will be meeting analysts/investors on February 14 and 15.
ACC: AMC / Investors will be attending company's Investor Meeting on February 14.
Astral Poly Technik: Company's officials will participate in the India 2025: Seeking Growth – The ESG Way' Investor Conference organised by Edelweiss at Mumbai on February 14.
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