Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 5 points at the opening bell. In overseas stock markets, Asian stocks edged higher today, 20 July 2015. US stocks closed mixed on Friday, 17 July 2015, but posted solid gains for the week, as strong earnings boosted the Nasdaq to another record high.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 605.56 crore during the previous trading session on Friday, 17 July 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 175.15 crore during the previous trading session on Friday, 17 July 2015, as per provisional data.
Among corporate news, ACC's consolidated net profit fell 45.11% to Rs 133.46 crore on 2.13% decline in total income to Rs 3037.12 crore in Q2 June 2015 over Q2 June 2014. The result was announced after market hours on Friday, 17 July 2015.
Meanwhile, India's weather office, the India Meteorological Department (IMD), said in its daily monsoon update issued yesterday, 19 July 2015, that the Southwest Monsoon was vigorous over Nagaland, Manipur, Mizoram & Tripura and West Madhya Pradesh and active over Haryana, Chandigarh & Delhi, South Interior Karnataka and Kerala during 24 hours ending until 8:30 IST.
For the country as a whole, cumulative rainfall during this year's monsoon season was 8% below the Long Period Average (LPA) until 19 July 2015. Region wise, the southwest monsoon was 10% above the LPA in Northwest India, 6% below the LPA in East & Northeast India, 13% below the LPA in South Peninsula and 16% below the LPA in Central India until 19 July 2015.
The quantum of and the spatial distribution of rainfall this month holds key, with July being a crucial month for the sowing of Kharif crops. The June-September southwest monsoon is critical for the country's agriculture because a considerable part of the country's farmland is dependent on the rains for irrigation.
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Meanwhile, the weekly data released by the Ministry of Agriculture after trading hours on Friday, 17 July 2015, showed a pick up in the sowing of Kharif crops. The total sown area for Kharif crops as on 17 July 2015 stood at 563.35 lakh hectares compared with 346.34 lakh hectares at this time last year. July is the crucial month for the sowing of Kharif crops.
Meanwhile, the Ministry of Water Resources announced in its weekly report issued after trading hours on Friday, 17 July 2015, that the water storage available in 91 important reservoirs of the country was 51.22 BCM as on 16 July 2015, which is 33% of total storage capacity of these reservoirs. This storage is 133% of the storage of corresponding period of last year and 112% of storage of average of last ten years. The present storage position during current year is better than the storage position of last year and is also better than the storage of average of last ten years.
Meanwhile, the three-week monsoon session of Parliament will begin tomorrow, 21 July 2015, as per reports. The government is looking forward to push through key bills and get approval for the recently-promulgated ordinances in the monsoon session of the Parliament.
Auto stocks and index heavyweights ITC and Infosys led gains for benchmark indices on the last trading session of the week on Friday, 17 July 2015. The S&P BSE Sensex rose 17.19 points or 0.06% to settle at 28,463.31, its highest closing level since 16 April 2015.
In overseas stock markets, Asian stocks edged higher today, 20 July 2015. Key indices in China, Hong Kong, Taiwan and Singapore were up 0.01% to 1.56%. In South Korea, the Kospi was off 0.16%. Stock markets in Japan and Indonesia were shut for public holidays.
US stocks closed mixed on Friday, 17 July 2015, but posted solid gains for the week, as strong earnings boosted the Nasdaq to another record high.
In Europe, Greece has reached the deadline it couldn't afford to miss, for a bill it can finally afford to pay. Greece must today, 20 July 2015, reimburse the European Central Bank (ECB) 4.2 billion euros ($4.5 billion), including interest, as bonds bought during its last debt crisis mature.
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