Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could advance 40 points at the opening bell. Asian stocks edged higher today, 11 June 2015 following overnight gains in US markets amid optimism progress is being made in Greece's debt talks.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 482.11 crore yesterday, 10 June 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 788.06 crore yesterday, 10 June 2015, as per provisional data.
Axis Bank will be in focus after the Ministry of Urban Development after trading hours yesterday, 10 June 2015, announced that Axis Bank has decided to issue co-branded cards to the users of Kochi Metro for paying the fares. Axis Bank will issue co-branded cards to the users of Kochi Metro for paying the fares as well as using them for all kinds of merchandise including e-commerce, according to a statement from the Ministry of Urban Development. Axis Bank will install the required complex hardware and software for fare collection from passengers and in addition will pay Kochi Metro Rail (KMRL) a sum of Rs 208 crore over the next 10 years besides undertaking the entire maintenance of Automated Fare Collection (AFC) for ten years. KMRL will also be paid 0.2% of Axis Bank's gross revenues from the utlilisation of co-branded pre-paid cards outside Kochi Metro system. Axis Bank has formed a consortium of service providers and will soon start work on installing AFC system. KMRL is undertaking the metro rail project in Kochi, Kerala. Of the project length of 25.612 kms, 18 km is scheduled to be commissioned by June 2016 and the rest by June 2017.
Shares of Wipro will be in focus. With respect to news article titled "Odisha govt threatens to take back 26 acre Wipro land on work delay", Wipro clarified after market hours yesterday, 10 June 2015, that the company remains committed to its investment and to grow in the city of Bhubhaneshwar.
India's current account deficit (CAD) narrowed sharply to $1.3 billion or 0.2% of GDP in Q4 March 2015 from $8.3 billion or 1.6% of GDP in Q3 December 2014, according to data released by the Reserve Bank of India (RBI) after trading hours yesterday, 10 June 2015. On a year-on-year (y-o-y) basis, the CAD registered a small increase to $1.3 billion in Q4 March 2015 from $1.2 billion in Q4 March 2014. The sharp reduction in CAD in Q4 March 2015 on quarter-on-quarter (q-o-q) basis was primarily on account of lower trade deficit as net earnings through services and primary income (profit, dividend and interest) witnessed a decline on q-o-q basis, the RBI said.
The government is scheduled to unveil industrial production data for April 2015 tomorrow, 12 June 2015. Industrial output growth touched a five-month low of 2.1% in March from a revised 4.9% in February on the back of an across-the-board slowdown in production. On the same day, the government is scheduled to unveil the consumer price index (CPI) data for the month of May 2015. Consumer price index-based retail inflation eased to a four-month low of 4.87% in April from a revised 5.25% in March.
IT and auto stocks led rally for key equity benchmark indices in India yesterday, 10 June 2015 after MSCI Inc.'s decision not to add Chinese domestic stocks to its widely tracked emerging-markets index. The Sensex garnered 359.25 points or 1.36% to settle at 26,840.50, its highest closing level since 2 June 2015.
Asian stocks edged higher today, 11 June 2015 following overnight gains in US markets amid optimism progress is being made in Greece's debt talks. Key benchmark indices in Singapore, Taiwan, Hong Kong, Japan and South Korea rose by 0.12% to 1.44%. Key benchmark indices in China and Indonesia fell 0.14% to 0.2%.
US stocks jumped yesterday, 10 June 2015 helped by gains in technology and financial shares.
A two-day meeting of the Federal Open Market Committee (FOMC) to review US monetary policy is scheduled on 16-17 June 2015.
In Europe, speculation has reportedly increased that the standoff over Greece will reach a favorable resolution as the European Central Bank raised the level of emergency cash available to the country's banks by 2.3 billion euros ($2.6 billion). German Chancellor Angela Merkel reportedly said yesterday, 10 June 2015 her goal is to keep Greece in the euro area. Greece deferred a payment to the International Monetary Fund last week and needs to crack a deal or get another extension before its euro-area bailout package expires on 30 June 2015.
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