The market is likely to open lower on negative Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 26 points at the opening bell. Asian shares declined on Wednesday as investors adopt a cautious stance ahead of the Fed meeting minutes.
Tata Motors is reportedly planning to launch a new hatchback and a sub-4 metre sedan powered by an all-new 1.2 litre turbocharged petrol engine in 2014 to cash in on the popularity of petrol cars. These two new products will be the first few major product offerings from Tata Motors in the last 3-4 years since the launch of the Aria crossover in 2010-11, the media report added.
Ashok Leyland said after market hours on Tuesday, 19 November 2013 that the board of directors of the company at its meeting held on 19 November 2013, approved the scheme of amalgamation of Ashley Services (100% subsidiary - transferor company) with Ashok Leyland (transferee company), subject to approval of regulatory authorities as required and the High Court of Judicature, Madras.
Key benchmark indices eked out small gains in lacklustre trade on Tuesday, 19 November 2013. The S&P BSE Sensex garnered 40.08 points or 0.19% to 20,890.82, its highest closing level since 6 November 2013.
Foreign institutional investors (FIIs) bought shares worth a net Rs 1014.61 crore on Tuesday, 19 November 2013, as per provisional data from the stock exchanges.
On the political front, an unprecedented 78.50% of the nearly 1.40 crore electors voted in the second phase of polling for the Assembly elections in Chhattisgarh on Tuesday, 19 November 2013. The first phase of elections in the 90-member assembly on 11 November 2013 had seen polling of 75.53%.
Asian shares declined on Wednesday as investors adopt a cautious stance ahead of the Fed meeting minutes. Key benchmark indices in Taiwan, China, Japan, Indonesia and South Korea fell by 0.1% to 0.55%. Key benchmark indices in Hong Kong and Singapore rose 0.04% to 0.33%.
Japanese exports rose 18.6% from a year earlier in October to 6.105 trillion yen, the Ministry of Finance said Wednesday, marking the eighth straight month of expansion. In September, exports rose 11.5% on year.
US stocks pulled back on Tuesday, as investors showed caution after the Dow Jones Industrial Average and S&P 500 failed to hold above milestone levels in the prior session.
Investors will closely watch US Federal Reserve's FOMC minutes due to be released today, 20 November 2013 for any fresh clues on Fed monetary policy moves upcoming. The minutes will be from the October 29-30 meeting.
Federal Reserve Chairman Ben Bernanke indicated Tuesday that the US central bank would like to move away from using its balance sheet to help the economy and focus more on forward guidance about keeping short-term rates low, but the timing of this shift remains an open question.
Bernanke said the timing of the Fed's tapering of monetary stimulus still depends on further improvement in employment data and a pickup in inflation toward the central bank's 2% target.
The Federal Reserve would like to move away from using its balance sheet to help the economy and focus more on "forward guidance" about keeping short-term rates low, but the timing of this shift remains an open question, said Federal Reserve Chairman Ben Bernanke on Tuesday. Bernanke was much clearer about the central bank's plan for short-term rates, saying the Fed would likely hold short-term rates near zero well after the economy reaches the 6.5% unemployment rate that is the threshold for considering a rate increase. In new language, Bernanke said rates could even stay near zero until "the preponderance of the data supports the beginning" of tightening.
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