Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 22.50 points at the opening bell tracking weakness in Asian markets.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 403.76 crore during previous trading session on Friday, 14 August 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 179.20 crore on Friday, 14 August 2015, as per provisional data.
Among corporate news, HDFC after market hours on Friday, 14 August 2015 said that it has agreed to sell 17.95 crore equity shares of Rs 10 each of HDFC Standard Life Insurance Company (HDFC Life) to Standard Life (Mauritius Holdings) 2006 Limited at a price of Rs 95 per share aggregating to 9% of the issued and paid-up share capital of HDFC Life, subject to receipt of requisite approvals. Post the said sale of stake in HDFC Life, HDFC's holding in HDFC Life will be 61.65% and that of Standard Life (Mauritius Holdings) 2006 Limited will be 35%.
Tata Motors after market hours on Friday, 14 August 2015 said that Tata Motors Group global wholesales including Jaguar Land Rover (JLR) dropped 8% to 73,535 units in July 2015 over July 2014.
On a consolidated basis, Cipla reported 120.9% surge in net profit to Rs 650.61 crore on 41.3% rise in total income to Rs 3901.70 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours on Friday, 14 August 2015.
Shares of public sector oil marketing companies (PSU OMCs) will be in focus after announcing reduction in petrol and diesel price effective 15 August 2015. The announcement was made after market hours on Friday, 14 August 2015.
Indian Oil Corporation (IOCL) announced reduction in petrol and diesel prices with effect from 15 August 2015. The retail selling price of petrol was decreased by Rs 1.27 per litre at Delhi (including state levies) with corresponding price revision in other states. With the latest revision, the price of petrol in Delhi has become Rs 63.20 per litre. The retail selling price of diesel was reduced by Rs 1.17 per litre at Delhi (including state levies) with corresponding price revision in other states. With the latest revision, the price of diesel in Delhi has become Rs 44.95 per litre.
IOCL said that since last price change on 1 August 2015, there has been a decrease in international prices of both petrol & diesel. Rupee-dollar exchange rate has, however, depreciated during this period. Combined impact of both these factors warranted a downward revision in prices, the impact of which is being passed on to the consumers with this price decrease. The movement of prices in international oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, IOCL said in a statement.
PSU OMCs review fuel prices during the middle of the month and on the last day of the month based on the average imported oil price in the preceding fortnight.
Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys on Friday, 14 August 2015 announced a partnership with Payveris, an online and mobile digital payments company headquartered in Connecticut. The two entities will jointly provide integrated payment solutions to banks and credit unions throughout the United States. The offering will facilitate bill payments and innovative money movement services such as interbank transfers and person-to-person payments. The announcement was made after market hours on Friday, 14 August 2015.
Through this partnership, the two organizations will integrate Finacle Universal Banking Solution and Payveris' modular, open API-driven Digital Payments Platform to offer cloud-based banking services to community financial institutions in the US. The fully integrated solution will enable financial institutions to boost agility and efficiency of their operations, accelerate growth and improve customer experience across channels. The partnership will strengthen Infosys Finacle's core banking, e-banking and mobile banking offerings in the US. through the addition of Payveris' omni-channel digital payments capability.
Meanwhile, investors continue to watch the progress of the monsoon rains which will have a bearing on food prices and rural income. India's weather office, the India Meteorological Department (IMD), said in a daily report issued yesterday, 16 August 2015, that for the country as a whole, cumulative rainfall during this year's monsoon season was 10% below the Long Period Average (LPA) until 16 August 2015. Region wise, the rainfall was 20% below the LPA in South Peninsula, 13% below the LPA in East & Northeast India, 9% below the LPA in Central India and 1% above the LPA in Northwest India until 16 August 2015.
The June-September southwest monsoon is critical for the country's agriculture because a considerable part of the country's farmland is dependent on the rains for irrigation.
Trading for the week ended on a strong note on Friday, 14 August 2015, as key benchmark indices surged as market sentiment was boosted by hopes of a possible rate cut by the Reserve Bank of India after data released on 14 August 2015 showed wholesale price index (WPI) for July 2015, slipped further into negative terrain and stood at minus 4.05% as compared to minus 2.4% in June 2015. The S&P BSE Sensex jumped 517.78 points or 1.88% to settle at 28,067.31, its highest closing level since 10 August 2015.
In overseas markets, Asian stocks edged lower today, 17 August 2015. Key indices in China, Hong Kong, Taiwan, Singapore, and South Korea were off 0.46% to 1.28%. In Japan, the Nikkei 225 was up 0.35%. Indonesian stock market was shut due to holiday.
US stocks closed higher on Friday, 14 August 2015.
The International Monetary Fund (IMF) has called on eurozone ministers to offer Greece debt relief, following the approval of a new bailout deal. Greece will receive up to 86 billion euros in loans over the next three years, in return for tax rises and spending cuts. IMF chief Christine Lagarde welcomed the agreement, but warned Greek debt had become unsustainable, as per reports.
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