Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 12 points at the opening bell. The Reserve Bank of India's (RBI)'s third bi-monthly monetary policy statement is due at 11:00 IST today, 4 August 2015. Asian stocks were mixed today, 4 August 2015.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 350.41 crore yesterday, 3 August 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 33.36 crore yesterday, 3 August 2015, as per provisional data.
Bank stocks will be in focus ahead of the Reserve Bank of India's (RBI)'s third bi-monthly monetary policy statement at 11:00 IST today, 4 August 2015. Interest rate sensitive realty and auto stocks will be in focus ahead of RBI's monetary policy review today, 4 August 2015.
Bharti Airtel announces its Q1 June 2015 result today, 4 August 2015.
Hero MotoCorp's net profit rose 33.33% to Rs 750.34 crore on 1.15% decline in total turnover (net sales plus other operating income) to Rs 6955.26 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 3 August 2015.
Commenting on the company's Q1 performance, Pawan Munjal, Chairman, Chief Executive Officer and Managing Director of Hero MotoCorp said that during Q1 June 2015, the company continued to strengthen its market leadership through a combination of new product launches and strategic marketing initiatives. Hero MotoCorp further expanded its already wide and diverse product portfolio with two new offerings - the Xtreme Sports and Passion Pro in this quarter. These products have witnessed a very poistive response, enabling it to fortify its leadership position. Strong demand for the company's products in the 125cc category has also been instrumental in driving volumes, Munjai said. Hero MotoCorp has lined up a slew of new launches including scooters and motorcycles as it moves into the festive season, Munjal said.
The Reserve Bank of India's (RBI)'s third bi-monthly monetary policy statement is due at 11:00 IST today, 4 August 2015. The RBI had cut its benchmark lending rate viz. the repo rate by 25 basis points to 7.25% after a monetary policy review on 2 June 2015.
Meanwhile, India's weather office, the India Meteorological Department (IMD), after trading hours yesterday, 3 August 2015, announced that the rainfall over the country as a whole during second half of southwest monsoon season (August to September) is likely to be below normal with a probability of 86%. Quantitatively, the rainfall over the country as a whole during the second half of the season (August to September) is likely to be 84% of long period average (LPA), with a model error of plus/minus 8%. From April to July 2015, El Nino conditions have strengthened from weak to moderate level. Latest forecast from ESSO-IMD-IITM coupled model indicates 72% probability of El Nino conditions to become strong during remaining part of the monsoon season. Over the Indian Ocean, there is 86% probability of current neutral Indian Ocean Dipole conditions to continue during the monsoon season.
The rainfall during August 2015 is likely to be 90% of LPA, with a model error of plus/minus 9% as was forecasted in June. The season rainfall (June to September) over the country as a whole is likely to be deficient. The season rainfall (June to September) over the country as a whole is likely to be 88% of LPA with a model error of plus/minus 4% as was forecasted in June, the IMD said.
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.
Amid a divergent trend among various index constituents, key benchmark indices eked out small gains on first trading day of the week and the month yesterday, 3 August 2015. The Sensex rose 72.50 points or 0.26% to settle at 28,187.06, its highest closing level since 23 July 2015.
Asian stocks were mixed today, 4 August 2015. Key benchmark indices in Hong Kong, Japan, Indonesia and South Korea fell by 0.1% to 0.36%. Key benchmark indices in China, Singapore and Taiwan were up 0.07% to 0.19%.
US markets dropped yesterday, 3 August 2015 following weak economic data and a further slump in crude-oil prices
In US economic news, the Commerce Department yesterday, 3 August 2015 said personal spending by US consumers rose 0.2% in June, while personal income grew by 0.4%.
Separately, the Institute for Supply Management's index of national factory activity slipped to 52.7 in July, falling short of reading of 53.5 in June.
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