Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 15 points at the opening bell, tracking firmness in Asian markets.
Among corporate news, Bharat Heavy Electricals (Bhel) after market hours yesterday, 11 November 2014 said that the company has achieved yet another landmark in its After-Market-Service business by successfully renovating and modernizing (R&M) Unit-2 (110 megawatt) at Muzaftarpur Thermal Power Station (TPS) Plant of Kanti Bijlee Utpadan Nigam (KBUNL - a Joint Venture of NTPC and BSPGCL) in Bihar.
Power Grid Corporation of India reported 3.06% fall in net profit to Rs 1201.27 crore on 4.99% growth in total income to Rs 4309.26 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 11 November 2014.
Among prominent earnings, Tata Steel, BPCL, Eicher Motors, Max India, National Aluminium Company, Oracle Financial Services Software, Oil India, and Reliance Infrastructure will announce July-September quarterly results today, 12 November 2014.
Data this week is likely to show growth in industrial production remaining muted in September 2014 and inflation falling further in October 2014.
Industrial production is seen rising a muted 0.4% in September 2014, matching the growth in August 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will unveil industrial production data for September 2014 at 17:30 IST today, 12 November 2014.
The rate of inflation based on the combined consumer price indices (CPI) for urban and rural India is seen easing further to 5.7% in October 2014, from 6.46% in September 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will release consumer price inflation data for October 2014 at 17:30 IST today, 12 November 2014.
The rate of inflation based on wholesale price index (WPI) is seen easing further to 2.1% in October 2014, from 2.38% in September 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will unveil WPI inflation data for October 2014 at 12:00 noon on Friday, 14 November 2014.
Key benchmark indices eked out small gains yesterday, 11 November 2014, led by banking and cement stocks. The 50-unit CNX Nifty attained record closing high. The S&P BSE Sensex rose 35.33 points or 0.13% to settle at 27,910.06, its highest closing level since 5 November 2014.
Meanwhile, the provisional data released by the stock exchanges after trading hours on Tuesday, 11 November 2014, showed that foreign portfolio investors (FPIs) bought shares worth a net Rs 458.04 crore on that day.
Asian markets were mostly higher today, 12 November 2014, led by Japanese stocks on growing expectations Prime Minister Shinzo Abe will postpone a planned sales tax hike to avoid damaging a fragile recovery, and call a snap election to bolster his political standing. Key indices in Japan, China, Hong Kong, Singapore, South Korea, and Indonesia were up 0.06% to 1.21%. In Taiwan, the Taiwan Weighted index was off 0.88%.
In US, the Dow and S&P 500 eked out a fifth session of record closing highs yesterday, 11 November 2014, barely extending the market's recent rally in light volume as consumer discretionary shares gained.
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