Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 42 points at the opening bell. The market will react to IIP data for November 2018 released after market hours on Friday, 11 January 2019. Among stocks, Infosys will be watched after Q3 results.
India's industrial production (base year 2011-12=100) moderated sharply to mere 0.5% in November 2018, compared with 8.4% growth recorded in October 2018. The industrial production growth for October 2018 has been revised upwards from 8.1% increase reported provisionally. The data released after market hours on Friday, 11 January 2019.
The output of manufacturing sector declined 0.4%, while the electricity generation growth moderated to 5.1%% in November 2018. Further, the mining output growth also eased to 2.7% in November 2018.
Overseas, Asian shares were trading lower as investors kept a wary eye on looming Chinese trade data on increasing signs a slowdown in the world's second-biggest economy is dragging on global growth.
Wall Street dipped slightly on Friday, breaking a five-session rally, as energy shares declined and investors looked ahead to earnings season. The Dow Jones Industrial Average ended down 0.02% at 23,995.95 points, while the Nasdaq Composite dropped 0.21% to 6,971.48. The S&P 500 ended down 0.01% at 2,596.26.
Back home,key equity indices reversed early gains and ended lower for second straight session on Friday, led by weakness in TCS, Reliance Industries and Larsen & Toubro. A firmness in ITC supported the indices at lower levels. The Sensex fell 96.66 points or 0.27% to settle at 36,009.84, its lowest closing level since 8 January 2019. The Nifty 50 index fell 26.65 points or 0.25% to settle at 10,794.95, its lowest closing level since 7 January 2019.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 687.20 crore on Friday, 11 January 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 123.17 crore on Friday, 11 January 2019, as per provisional data.
Among stocks, shares of Infosys will be in focus after Q3 results. On a consolidated basis, Infosys' net profit fell 12.17% to Rs 3610 crore on 3.84% increase in revenues to Rs 21400 crore in Q3 December 2018 over Q2 September 2018. Operating profit was reported at Rs 4830 crore, a growth of 11.8% year-on-year and a decline of 1.3% quarter-on-quarter.
The company revised its FY2019 revenue guidance in constant currency upward to 8.5%-9.0%. It retained operating margin guidance at 22%-24%. The result was announced after market hours on Friday, 11 January 2019.
The company's board approved buyback of equity shares, from the open market route through the Indian stock exchanges, amounting to Rs 8260 crore (maximum buyback size) at a price not exceeding Rs 800 per share (maximum buyback price), subject to shareholders' approval by way of postal ballot. Further, the board also approved a special dividend of Rs 4 per share.
NTPC said it has decided to raise Rs 4,000 crore through private placement of secured non-convertible bonds in the nature of debentures at a coupon of 8.30% per annum with a door to door maturity of 10 years, on 15 January 2019. The proceeds will be utilized to finance capital expenditure/refinancing the debt requirement in on-going projects and other general corporate requirements. The bonds are proposed to be listed on both NSE & BSE. Security for these bonds will be duly created as per the requirements of and within the period of time prescribed under, the Companies Act and rules specified therein. The announcement was made after market hours on Friday, 11 January 2019.
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