Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 64 points at the opening bell tracking strength in Asian markets and overnight gains on Wall Street.
Infosys announces its Q3 December 2014 results at 12:30 noon today, 9 January 2015. Due to cross currency headwinds, analysts expects Infosys' management to prune the company's revenue growth guidance in dollar terms for the year ending 31 March 2015 (FY 2015). The IT major is widely expected to prune its FY 2015 dollar revenue growth to 7%-8%, from 7%-9%.
At the time of announcement of Q2 September 2014 results, Infosys had on 10 October 2014 retained its earlier guidance of 7% to 9% growth in revenue in dollar terms for FY 2015. At that time, the company had raised its revenue growth guidance in rupee terms due to rupee depreciation. The company had raised the revenue growth guidance for FY 2015 in rupee terms to 6.7%-8.7% from earlier 5.6%-7.6% at that time. The revised guidance was based on rupee dollar conversion rate of 61.
With respect to media reports titled "Three NHPC power stations shut in a blow to disinvestment plans", NHPC after market hours yesterday, 8 January 2015 replied that the status of preliminary report on fire in GSU Transformer at URI II power station was intimated on 20 November 2014. Further, as regard of Parbati-III & Teesta Low Dam-III, the matter is being taken up with concerned departments and shall be intimated to your office immediately on receipt of information, if any, the company said.
With respect to news article titled "Wipro wins $400m IT Infra Deal from swiss Giant ABB", Wipro after market hours yesterday, 8 January 2015 clarified that the company does not comment on market rumours.
SJVN after market hours yesterday, 8 January 2015 said that the company has signed a Joint Venture Agreement on 7 January 2015 with six state power generating companies belonging to West Bengal, Bihar, Uttar Pradesh, Punjab, Karnataka and Tamilnadu for formation of a JV Company for mining coal from Deocha Pachami-Dewanganj Horisingha Coal Block located in Birbhum district of West Bengal State. The coal mined from the block would feed to the 1320 megawatt (MW) (2*660MW) supercritical thermal power project of SJVN Thermal at Buxar, Bihar.
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On the macro front, data to be released in near future is expected to show industrial production growth remaining muted in November 2014 and consumer price inflation accelerating in December 2014. Industrial production is seen rising 1.6% in November 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will unveil industrial production data for November 2014 after trading hours on Monday, 12 January 2015. Industrial production had witnessed a surprise contraction of 4.2% in October 2014.
The rate of inflation based on the consumer price index (CPI) is seen accelerating to 5.4% in December 2014 from 4.4% in November 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will release the data on CPI inflation for December 2014 after trading hours on Monday, 12 January 2015.
The Reserve Bank of India (RBI) aims to limit consumer-price gains to 8% by January 2015 and 6% by January 2016. Over the longer term, the RBI aims to limit consumer-price gains to 4%, within a 2% band.
The rate of inflation based the wholesale price index (WPI) is projected at 0.5% for December 2014, as per the median estimate of a poll of economist carried out by Capital Market. WPI inflation stood at zero in November 2014. The government will release data on WPI for December 2014 at 12 noon on 14 January 2015.
Key benchmark indices surged on positive cues from European and Asian markets yesterday, 8 January 2015. The S&P BSE Sensex gained 365.89 points or 1.36% to settle at 27,274.71, its highest closing level since 5 January 2015.
Foreign portfolio investors sold shares worth a net Rs 466.78 crore yesterday, 8 January 2015, as per provisional data.
Asian stock markets were higher today, 9 January 2015, taking cues from a surge on Wall Street amid hopes for continued improvement in the US economy, while steady oil prices also provided support. Key indices in Japan, Hong Kong, Singapore, South Korea, and Indonesia were up 0.22% to 1.23%. Key indices in China and Taiwan were off 0.11% to 0.51%.
China's consumer inflation remained tepid in December, while prices at the factory gate continued to slide. The consumer price index rose 1.5% on year in December, up slightly from a 1.4% on-year rise in November, data from the National Bureau of Statistics showed today, 9 January 2015.
US stocks surged for a second day yesterday, 8 January 2015, with benchmarks turning higher for the year, as oil steadied and on thinking the Federal Reserve and the European Central Bank would buttress the global economy.
The US Labor Department reports monthly payroll data for December 2014 later in global day today, 9 January 2015.
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