Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 5 points at the opening bell. The Reserve Bank of India (RBI) announces monetary policy review today, 5 August 2014. As per market expectations, the RBI will keep policy rates unchanged.
Hero MotoCorp, NHPC and Tata Chemicals will unveil Q1 June 2014 earnings today, 5 August 2014.
Interest rate sensitive banking, realty and auto stocks will be in focus ahead of RBI's policy meet.
HCL Technologies turns ex-dividend today, 5 August 2014, for interim dividend of Rs 12 per share for the year ending 31 March 2015 (FY 2015).
Power Grid Corporation of India's net profit rose 9.24% to Rs 1136.51 crore on 12.13% rise in total income to Rs 4075.11 crore in Q1 June 2014 over Q1 June 2013. The result was announced after market hours on Monday, 4 August 2014.
Metal stocks may decline on negative economic data in China. China is the world's largest consumer of steel, copper and aluminum.
On a provisional basis, NMDC said that total iron ore production rose 11.39% to 9.88 million tonne in the four months period ended July 2014 over the corresponding period of the previous year. Despatches rose 18.19% to 11.11 million tonne in the four months period ended July 2014 over the corresponding period of the previous year.
Meanwhile, NMDC kept price of iron ore unchanged for August 2014. NMDC said it has rolled over the July 2014 price of lump ore (Rs 4600 per tonne) and fines (Rs 3160 per tonne) to the month of August 2014. The company reviews prices every month.
Raymond will be watched. With reference to the news item appearing in a leading financial daily titled, "Raymond may sell up to 20% to PEs, the company clarified to the stock exchanges that while it is engaging with private equity investors and other members of the financial community to explore opportunities for enhancing shareholder value, at this point of time no such proposal is under the consideration of the board of directors of the company.
Indraprastha Gas said its board has decided to invest in the equity shares of Maharashtra Natural Gas (MNGL), which is engaged in city gas distribution business in Pune (Maharashtra), by acquiring 5 crore equity shares of Rs 10 each of MNGL at Rs 38 per equity share, aggregating to Rs. 190 crore from certain financial investor shareholders of MNGL in such a manner so that upon completion of the proposed transaction the company's shareholding in MNGL shall not exceed 50% of the issued, subscribed and paid up share capital of MNGL. The same is subject to the finalization and execution of definitive agreements (share purchase agreements) in this regard and compliance with applicable laws.
HSBC Services PMI for India for the month of July is due today, 5 August 2014. The seasonally adjusted HSBC Services Business Activity Index edged up to a 17-month high of 54.4 in June 2014, from 50.2 in May 2014. New business flows and stronger business sentiment supported expansion in the services sector activity in June 2014.
Key benchmark indices jumped on Monday, 4 August 2014, as firm global markets boosted investor sentiment. Fall in crude oil prices also supported buying on the bourses. India imports two-third of its crude oil requirement. Lower crude oil prices ease concerns about India's adverse fiscal and current account deficit situation. The S&P BSE Sensex rose 242.32 points or 0.95% to 25,723.16 on that day, its highest closing level since 31 July 2014.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 372.56 crore on Monday, 4 August 2014, as per provisional data from the stock exchanges.
Asian stocks dropped today, 5 August 2014, with Shanghai shares retreating from the year's highest close as a private gauge of Chinese services industries fell to a record low. Key benchmark indices in Hong Kong, Japan, Indonesia, South Korea, China and Taiwan were down by 0.02% to 1.39%. Singapore's Straits Times rose 0.2%.
A purchasing managers' index of China's non-manufacturing sector fell to 50 in July, the borderline between expansion and contraction and the lowest reading in data from HSBC Holdings Plc and Markit Economics.
US stocks staged a late-day rally Monday, 4 August 2014, helping push the indices higher for the first time in a week on a decent earnings report from Berkshire Hathaway and the announcement of a rescue package for a struggling Portuguese bank.
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