Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 10 points at the opening bell.
In overseas stock markets, Asian stocks were trading mostly lower after lackluster trading on Wall Street overnight. In China, the Shanghai Composite index was currently up 1.91%. US stocks closed slightly lower yesterday, 1 February 2016.
Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 253.88 crore yesterday, 1 February 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 535.70 crore yesterday, 1 February 2016, as per provisional data released by the stock exchanges.
Interest rate sensitive banking, auto and realty stocks will be in spotlight as the Reserve Bank of India (RBI) is scheduled to announce its sixth bi-monthly monetary policy for the year 2015-16 at 11:00 IST today, 2 February 2016. In the fifth bi-monthly monetary policy on 1 December 2015, the RBI kept its benchmark interest rate viz. the repo rate unchanged at 6.75% and the cash reserve ratio (CRR) for commercial banks unchanged at 4% of net demand and time liability (NDTL).
Tech Mahindra's consolidated net profit fell 3.4% to Rs 759 crore on 1.3% increase in revenue to Rs 6701 crore in Q3 December 2015 over Q2 September 2015. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 3.2% to Rs 1136 crore in Q3 December 2015 over Q2 September 2015. The result was announced after market hours yesterday, 1 February 2016.
Coal India and its subsidiaries on provisional basis achieved 94% of targeted production at 52.86 million tonnes in January 2016. Coal India and its subsidiaries on provisional basis achieved 95% of targeted offtake at 48.32 million tonnes in January 2016. The announcement was made after market hours yesterday, 1 February 2016.
Sun Pharmaceutical Industries announced the launch of Imatinib Mesylate Tablets (therapeutic equivalent to Gleevec for indications approved by the FDA) in US market. The announcement was made by the company after market hours yesterday, 1 February 2016. Sun Pharma's subsidiary received final approval for Imatinib Mesylate from United States Food & Drug Administration (USFDA) in December 2015. Being a First-to-File product, it was granted 180 days of marketing exclusivity by FDA from the time of its launch.
As part of this launch, in addition to strengthening distribution in USA, the company has rolled-out unique Sun Pharma Imatinib Mesylate Savings Card program. This program aims to deliver greater access to the drug for patients who have a commercial insurance but their out-of-pocket may exceed an affordable amount. The savings card will reduce patient's co-payment (out-of-pocket) to $10. In line with its philosophy of putting patients first, Sun Pharma's Imatinib Mesylate Savings Card will also offer patients additional savings benefit of up to $700 for a 30-day fill to offset any additional out-of-pocket cost should they be required to meet their deductible or co-insurance. Participating pharmacies across USA can use the patient's Sun Pharma's Imatinib Mesylate Savings Card as part of this program.
Tata Motors said total sales of Tata Motors passenger and commercial vehicles rose 10% at 47,034 vehicles in January 2016 over January 2015. The announcement was made by the company after market hours yesterday, 1 February 2016. The domestic sales of Tata commercial and passenger vehicles rose 7% at 41,398 units in January 2016 over January 2015. In commercial vehicles, medium & heavy commercial vehicles (M&HCV) sales grew 30% at 14,693 units in January 2016 over January 2015. The light & small commercial vehicle sales has witnessed a growth of 12% at 15,977 units in January 2016 over January 2015. The overall commercial vehicles sales for Tata Motors in the domestic market rose 20% at 30,670 units in January 2016 over January 2015. This significant increase has been enabled by light commercial vehicles (LCV) growth supplementing the already prevailing M&HCV growth. This is the second consecutive month of growth in LCVs, after many months, and if sustained, could see return of growth in this segment, albeit on a low base, company said.
Tata Motors passenger vehicles sales fell 18% at 10,728 units in January 2016 over January 2015. The company's sales from exports rose 42% to 5,636 units in January 2016 over January 2015.
Data released by the government after market hours yesterday, 1 February 2016 showed that the combined index of eight core industries stood at 175.7 in December 2015, which was 0.9% higher compared to the index of December 2014. The eight core industries comprise nearly 38% of the weight of items included in the Index of Industrial Production (IIP).
After swinging between positive and negative zone alternately in intraday trade, the two key benchmark indices registered small losses yesterday, 1 February 2016. The Sensex fell 45.86 points or 0.18% to settle at 24,824.83, its lowest closing level since 28 January 2016.
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