Market is seen opening flat to negative, mirroring mixed cues from global stock indices. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 13 points at the opening bell.
In overseas markets, Asian markets were trading on a mixed note as investors grappled with the prospects of higher US borrowing costs and slower global economic growth. The main US stock indexes finished barely changed yesterday, 19 November 2015, after weakness in the health-care and energy sectors stunted gains.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 343.18 crore yesterday, 19 November 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 233.82 crore on yesterday, 19 November 2015, as per provisional data.
Among corporate news, Jubilant FoodWorks after market hours yesterday, 19 November 2015, said that Domino's Pizza India has partnered with Zippr, a Hyderabad based startup that is solving the problem of complex addresses. This partnership will allow Domino's Pizza consumers to seamlessly share their address during checkout on Domino's Pizza's online ordering platforms, Jubilant FoodWorks said in a statement.
NTPC said after market hours yesterday, 19 November 2015, that the company has mandated Barclays, Citigroup, Deutsche Bank AG, HSBC and SBI Capital Markets to arrange a series of fixed income investors meetings in London, Singapore and Hongkong commencing 23 November 2015. An offshore rupee denominated senior notes offering under 'Regulation S' may follow, subject to market conditions.
Private banks wil be in focus. The Reserve Bank of India yesterday, 19 November 2015, issued revised directions necessitating prior approval for acquisition of shares or voting rights in private sector banks. These Directions contain two major changes with a person intending to acquire shares or compulsorily convertible debentures/bonds or voting rights or convert optionally convertible debentures/bonds of 5% or more in a private sector bank, he/she will have to apply to the Reserve Bank for obtaining its prior approval. The major shareholders that is, shareholders having 5% or more of the paid-up share capital of the bank as indicated above, would have to give an annual declaration to the concerned bank on their 'fit and proper' status and if in the bank's assessment any major shareholder is not 'fit and proper', it will have to immediately furnish the requisite information to the Reserve Bank. The directions build on the existing policy and illustrate the procedure to be followed for seeking prior approval for acquisition of major shareholding in private sector banks.
PTC India Financial Services (PFS) after market hours yesterday, 19 November 2015, announced that it has signed a Memorandum of Understanding (MoU) with India Infrastructure Finance Company (IIFCL) to provide financing for infrastructure projects in India. As per the agreement, PFS and IIFCL will come together to provide one single window to promoters of infrastructure projects particularly in energy value chain and facilitate their financing in India. Both companies will collaborate to provide credit enhancement facility to various projects to enable their financing at competitive rates, apart from collaborating in areas of mutual interest towards service to infrastructure sector, PFS said in a statement.
Shares of DCM turn ex-dividend today, 20 November 2015, for interim dividend of Rs 1.50 per share for the year ending 31 March 2016.
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Key benchmark indices registered strong gains yesterday, 19 November 2015, taking cue from positive global markets on bets the US Federal Reserve would raise interest rates as early as next month. The barometer index, the S&P BSE Sensex rose 359.40 points or 1.41% to settle at 25,841.92. The 50-unit Nifty 50 index rose 110.95 points or 1.43% to settle at 7,842.75. Nifty hit its highest closing level in almost 1-1/2 weeks.
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