Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 12 points at the opening bell.
Overseas, most Asian stock markets were trading higher supported by positive sentiment to China signaling more stimulus measures to come, including larger tax cuts, amid concerns of a slowdown in the world's second-largest economy. US stocks snapped a two-session skid Tuesday, as a robust tech rally offset lackluster results from major US banks, including Dow-component JPMorgan Chase & Co.
In the UK, Prime Minister Theresa May's plan to leave the European Union by a March 29 deadline was rejected overwhelmingly by the parliament, triggering more uncertainty as the country struggles to engineer an orderly exit from the trade bloc. In a crushing defeat, 432 members voted against May's proposal while 202 voted in favor.
Back home,key equity indices ended with sharp gains yesterday, 15 January 2019, led by firmness in index heavyweights Reliance Industries, Infosys and TCS. Gains were triggered on hopes of interest rate cut by RBI after latest data revealed that retail inflation as dropped sharply in December. Positive global stocks also boosted sentiment. The Sensex rose 464.77 points or 1.30% to settle at 36,318.33, its highest closing level since 20 December 2018.
The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 159.60 crore yesterday, 15 January 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 417.44 crore yesterday, 15 January 2019, as per provisional data.
Among corporate news,on a consolidated basis, Zee Entertainment Enterprises' net profit rose 50.56% to Rs 562.76 crore on 17.88% increase in net sales to Rs 2,166.77 crore in Q3 December 2018 over Q3 December 2018. Revenue growth was driven by the strong performance of broadcast business. EBITDA (earnings before interest, tax, depreciation and amortization) for the quarter grew by 26.9% to Rs 754.30 crore and EBITDA margin stood at 34.8%. The result was announced after market hours yesterday, 15 January 2019.
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Dr Reddy's Laboratories informed that the US Food and Drug Administration (USFDA) completed audit of the company's formulations Srikakulam plant (SEZ) Unit I, Andhra Pradesh on 15 January 2019. The company has been issued a Form 483 with 4 observations, which the firm is addressing. The announcement was made after market hours yesterday, 15 January 2019.
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