Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 14.50 points at the opening bell as bourses open amid mixed Asian cues.
Overseas, Asian stocks were mixed as caution prevailed in financial markets ahead of US President-elect Donald Trump's inauguration later today, 20 January 2017. China's economy grew by a faster-than-expected 6.8% in the fourth quarter, boosted by higher government spending and record bank lending. The economy expanded 6.7% in 2016, the National Bureau of Statistics said today, 20 January 2017, roughly in the middle of the government's 6.5-7% growth target but still the slowest pace in 26 years.
US stocks posted losses yesterday, 19 January 2017, as the Dow Jones Industrial Average fell for the fourth straight session. US homebuilding rebounded sharply in December amid stronger demand for rental housing, and the number of Americans filing for unemployment benefits fell to near the 43-year low touched in mid-November.
European Central Bank chief Mario Draghi yesterday, 19 January 2017, played down a recent rise in euro zone inflation, as investors parsed his statement and noted he had announced no changes to policy.
Among corporate news, Axis Bank's net profit fell 73.35% to Rs 579.57 crore on 15.72% growth in total income to Rs 14501.21 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 19 January 2017.
The bank's gross non-performing assets (NPA) stood at Rs 20466.82 crore as on 31 December 2016 as against Rs 16378.65 crore as on 30 September 2016 and Rs 5724.05 crore as on 31 December 2015.
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The bank's ratio of gross NPAs to gross advances stood at 5.22% as on 31 December 2016, as against 4.17% as on 30 September 2016 and 1.68% as on 31 December 2015. The bank's ratio of net NPAs to net advances stood at 2.18% as on 31 December 2016, compared with 2.02% as on 30 September 2016 and 0.75% as on 31 December 2015.
Axis Bank's provisions and contingencies jumped 432.67% to Rs 3795.80 crore in Q3 December 2016 over Q3 December 2015.
Bharti Airtel said that its board will meet on 24 January 2017, to consider raising funds through issue of debentures/bonds through private placement. The announcement was made after market hours yesterday, 19 January 2017.
Adani Ports and Special Economic Zone (APSEZ) said it raised $500 million by allotting fixed rate senior unsecured notes . The said notes will be listed on Singapore Exchange Securities Trading. The announcement was made after market hours yesterday, 19 January 2017.
Adani Power, RBL Bank among others will announce October-December 2016 quarterly results today, 20 January 2017.
Meanwhile, after a lacklustre and rangebound session of trade, key benchmark indices settled with small gains yesterday, 19 January 2017. The Sensex rose 50.96 points or 0.19% to settle at 27,308.60, its highest closing level since 10 November 2016.
Trading activity yesterday, 19 January 2017 showed that foreign portfolio investors (FPIs) sold shares worth a net Rs 132.26 crore, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 379.63 crore yesterday, 19 January 2017, as per provisional data.
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