Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 22.50 points at the opening bell.
Foreign portfolio investors sold shares worth a net Rs 792.54 crore yesterday, 28 May 2015, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 683.29 crore yesterday, 28 May 2015, as per provisional data released by the stock exchanges.
In overseas markets, Asian stocks were mixed today, 29 May 2015. US stock markets edged lower yesterday, 28 May 2015 as a lack of resolution on Greece debt talks and declining transports weighed on investor sentiment.
Bank stocks will be in focus after the Reserve Bank of India (RBI) yesterday, 28 May 2015, advised banks to encourage large agricultural borrowers such as agricultural commodity processors, traders, millers, aggregators etc. to hedge their risks related to agricultural commodity prices. Banks provide a number of credit facilities to customers engaged in activities related to agriculture. Volatility in agricultural commodity prices may negatively impact such borrowers and the banks, according to the central bank. Hence, hedging of agri-commodity price risk will be beneficial to both the borrowers and the banks, the RBI said in a statement. The RBI has advised banks to educate their customers about the suitability and appropriateness of using various hedging tools so that they can take an informed decision. This will also reduce the scope of mis-selling of derivatives. Banks have to keep the sophistication, understanding, scale of operation and requirements of their agri-borrowers in mind while advising them on the availability and use of these instruments, the RBI said.
Bosch replaces IDFC in the 50-unit CNX Nifty index effective from today, 29 May 2015.
On a consolidated basis, Coal India's net profit fell 4.41% to Rs 4238.55 crore on 3.05% increase in total income to Rs 23065.65 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours yesterday, 28 May 2015.
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On a consolidated basis, the company's net profit fell 9.16% to Rs 13726.70 crore on 3.74% increase in total income to Rs 80690.71 crore in the year ended March 2015 over the year ended March 2014.
ONGC's net profit fell 19.51% to Rs 3935.07 crore on 3.07% increase in total income to Rs 23381.07 crore in Q4 March 2015 over Q4 March 2014. The result was announced after trading hours yesterday, 28 May 2015.
The company's net profit fell 19.74% to Rs 17732.95 crore on 2.61% decline in total income to Rs 88238.18 crore in the year ended March 2015 over the year ended March 2014.
As per the decision of the Government of India no discount has been extended by ONGC to public sector oil marketing companies (PSU OMCs) during Q4 March 2015. During the corresponding previous year period i.e. in Q4 March 2014, ONGC gave a subsidy discount of a whopping Rs 16202 crore to PSU OMCs on sale of crude oil, PSD kerosene and domestic LPG.
There was an increase in oil and gas production by 6.19% (oil 0.86% and gas 16.37%) in the year ended March 2015 compared with the year ended March 2014. The incremental production was primarily due to better management and addition in the portfolio.
NMDC net profit fell 31.35% to Rs 1347.09 crore on 19.43% decline in total income to Rs 3554.77 crore in Q4 March 2015 over Q4 March 2014. The result was announced after trading hours yesterday, 28 May 2015.
Hindustan Petroleum Corporation (HPCL)'s net profit fell 53.09% to Rs 2162.39 crore on 30.17% decline in total income to Rs 45093.35 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours yesterday, 28 May 2015.
The company's net profit rose 57.65% to Rs 2733.26 crore on 7.37% decline in total income to Rs 207794.60 crore in the year ended March 2015 over the year ended March 2014.
Hindustan Copper's net profit fell 80.57% to Rs 26.60 crore on 49.30% decline in total income to Rs 272.71 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours yesterday, 28 May 2015.
The company's net profit fell 76.40% to Rs 67.60 crore on 31.66% decline in total income to Rs 1082.44 crore in the year ended March 2015 over the year ended March 2014.
The government is scheduled to announce the data on gross domestic product (GDP) growth for Q4 March 2015 today, 29 May 2015. India's GDP grew 7.5% in Q3 December 2014.
Meanwhile, economists expects the Reserve Bank of India (RBI) to cut its benchmark lending rate viz. the repo rate by 25 basis points to 7.25% after a monetary policy review early next week. Economists expect rate cut from the central bank in an attempt to kick-start the economy which has been showing signs of decelerating. The RBI is scheduled to announce the outcome of its second bi-monthly monetary policy review for the year 2015-16 at 11:00 IST on Tuesday, 2 June 2015.
Weakness in pharma stocks pulled key benchmark indices lower in what was a choppy trading session yesterday, 28 May 2015. The S&P BSE Sensex fell 57.95 points or 0.21% to settle at 27,506.71, its lowest closing level since 15 May 2015.
In overseas markets, Asian stocks were mixed today, 29 May 2015. Key indices in Japan, Hong Kong, Taiwan, and South Korea were up 0.04% to 0.42%. Key indices in China, Singapore and Indonesia were off 0.13% to 0.58%.
Japan's industrial production rose more-than-expected in May, preliminary data showed yesterday, 28 May 2015. In a report, the Ministry of Economy, Trade and Industry said that industrial production rose to a seasonally adjusted 1% in May, from minus 0.8% in the preceding month.
US stock markets edged lower yesterday, 28 May 2015 as a lack of resolution on Greece debt talks and declining transports weighed on investor sentiment.
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