Don’t miss the latest developments in business and finance.

Market seen opening lower; RIL Q4 eyed

Image
Capital Market
Last Updated : Apr 16 2014 | 7:55 AM IST

The market is likely to edge lower in opening trade on weak Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 31.50 points at the opening bell. Index heavyweight Reliance Industries (RIL) announces its Q4 results today, 16 April 2013. Asian stocks extended their retreat Tuesday after fears about the strength of the Chinese economy and a steep fall in commodity prices prompted the worst sell-off in five months on Wall Street.

State-run oil marketing companies (PSU OMCs) may be in focus after petrol price was effective midnight Monday cut by Re 1 per litre, excluding value added tax (VAT), because of fall in international oil prices. The recent cut in petrol price comes on the back of 85 paise a litre reduction in rates on 2 April 2013 and Rs 2 a litre decrease effected on 16 March 2013.

Shares of two-wheeler makers and small-car maker Maruti Suzuki India may be in demand in anticipation the cut in petrol prices may boost vehicle sales.

Wipro after market hours on Monday, 15 April 2013 said that Securities & Exchange Board of India (Sebi)) has acceded to the company's request and permitted the promoter and promoter group (including the entities that carried out the inter-se transfer) to divest through the offer for sale (OFS) route during the twelve weeks cool off period.

Earlier, Wipro had on 25 March 2013 applied to Sebi seeking a specific relaxation exemption from the twelve week cooling off period for carrying out an OFS through the stock exchange mechanism following the inter-se transfer amongst the promoter and promoter group entities on 15 March 2013.

Cairn India after market hours on Monday, 15 April 2013 said that a meeting of the board of directors of the company will be held on 22 April 2013, to consider the recommendation of final dividend, if any, for the financial year ended 31 March 2013.

More From This Section

MMTC after market hours on Monday, 15 April 2013 said that Credit Analysis & Research have reaffirmed the rating of CARE AA (Double A) in respect of long term bank facilities and CARE A1+ (A One plus) in respect of short term bank facilities being given to MMTC.

Key benchmark indices edged higher on Monday 15 April 2013 as slowing wholesale price inflation raised rate cut expectations. The S&P BSE Sensex was up 115.24 points or 0.63% to 18,357.80, its highest closing level since 11 April 2013.

Foreign institutional investors (FIIs) sold shares worth a net Rs 418.37 crore on Monday, 15 April 2013, as per provisional data from the stock exchanges.

The near term focus of the market is on Q4 results. Reliance Industries (RIL) announces Q4 results today, 16 April 2013. TCS announces Q4 results tomorrow, 17 April 2013. IndusInd Bank announces Q2 results on 18 April 2013. Wipro announces Q4 results on 19 April 2013. Cairn India announces Q4 results on 22 April 2013. UltraTech Cement announces Q4 results on the same day.

HDFC Bank announces Q4 results on 23 April 2013. Axis Bank will announce its Q4 March 2013 results on 24 April 2013. Hero MotoCorp, ICICI Bank and Maruti Suzuki unveil Q4 results on 26 April 2013. IDFC announces Q4 results on 1 May 2013. ACC and Ambuja Cements announce Q1 March 2013 results on 3 May 2013. HDFC announces Q4 results on 8 May 2013. Ranbaxy announces Q1 March 2013 results on the same day. Dr. Reddys Laboratories announces Q4 results on 14 May 2013. Bajaj Auto announces Q4 results on 16 May 2013.

Asian stocks extended their retreat Tuesday after fears about the strength of the Chinese economy and a steep fall in commodity prices prompted the worst sell-off in five months on Wall Street. Key benchmark indices in Hong Kong, Singapore, South Korea, Japan, China, Taiwan and Indonesia were down by 0.12% to 1.22%.

Chinese economic data came in weaker than expected, as the nation reported first quarter gross domestic product, March industrial output and other statistics on Monday, 15 April 2013. GDP for the January-March quarter rose 7.7% from a year earlier, weakening from 7.9% growth in the fourth quarter. Industrial production for March increased 8.9% from the year-earlier period, the weakest in more than a year and slowing from a 9.9% average rise for the January-February period, which China's statistics bureau reports in one figure due to seasonal distortions from the Lunar New Year holiday. March retail sales rose 12.6%, improving from 12.3% year-on-year growth in the January-February 2013 period, but far less than the 15.2% gain in December 2012.

US stock indexes fell the most in five months Monday, 15 April 2013 swept up in a rush out of gold, oil and other commodities, after reports from China showed the industrial giant's growth had cooled.

Powered by Capital Market - Live News

Also Read

First Published: Apr 16 2013 | 8:23 AM IST

Next Story