Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 8 point at the opening bell. Asian stocks were mixed. Indian stocks may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from November 2014 series to December 2014 series. The November 2014 derivatives contracts expire on Thursday, 27 November 2014.
Among corporate news, Bharti Airtel announced after market hours on Monday, 24 November 2014, that it entered into a definitive agreement with American Tower Corporation (AmericanTower) through Bharti Airtel's subsidiary company, Bharti Airtel International (Netherlands) BV (Airtel), for the sale of over 4,800 of Airtel's communications towers in Nigeria. Airtel will be the anchor tenant on the portfolio under a lease with a ten-year initial term.
The agreement will allow Airtel to focus on its core business and customers, enable it to deleverage through debt reduction and will significantly reduce its on-going capital expenditures on passive infrastructure in Nigeria, the Indian company said in a statement. American Tower and Airtel expect to close the acquisition during the first half of 2015, subject to customary closing conditions and regulatory approval, the company said.
Ashok Leyland said after market hours on Monday, 24 November 2014, that Hinduja Tech - HTL (formerly Defiance Technologies) a Wholly Owned Unlisted Subsidiary (WOS -100%) of Ashok Leyland (AL), has now become a subsidiary company. To unlock value, HTL has roped in a strategic investor to subscribe to the equity share capital of the company. Consequent to the allotment of equity shares to the strategic investor, the holding of AL now stands at 68%.
The month-long winter session of parliament began yesterday, 24 November 2014.
Voting is underway for the first of the five-phase assembly elections in Jammu and Kashmir and Jharkhand today, 25 November 2014.Assembly elections in Jammu & Kashmir and Jharkhand being held in five phases between 25 November 2014 and 20 December 2014 and counting of votes will take place on 23 December 2014. Polling in both states takes place on 25 November, December 2, 9, 14 and 20.
The government will announce data on gross domestic product (GDP) for Q2 September 2014 at 17:30 IST on Friday, 28 November 2014. India's GDP grew 5.7% in Q1 June 2014 over the corresponding period of the previous year.
The Reserve Bank of India (RBI) next undertakes monetary policy review on 2 December 2014. The central bank aims to limit consumer-price gains to 8% by January 2015 and 6% by January 2016. Over the longer term, the RBI aims to limit consumer-price gains to 4%, within a 2% band. The annual rate of inflation based on the combined consumer price index (CPI) for urban and rural India eased to 5.52% in October 2014 from 6.46% in September 2014, data released by the government on 12 November 2014 showed.
As global stocks rose after a surprise dose of liquidity measures launched by China's central bank and dovish comments from European Central Bank President Mario Draghi, key equity benchmark indices in India hit another record high on Monday, 24 November 2014.The S&P BSE Sensex garnered 164.91 points or 0.58% to settle at 28,499.54, on that day its record closing high.
The provisional data released by the stock exchanges after trading hours on Monday, 24 November 2014, showed that foreign portfolio investors (FPIs) bought shares worth a net Rs 407.42 crore on that day.
Asian stocks were mixed today, 25 November 2014. Key benchmark indices in Hong Kong, Indonesia, South Korea, and Singapore were down 0.03% to 0.24%. Key benchmark indices in China, Japan and Taiwan rose 0.06% to 0.56%.
US stocks rose on Monday, 24 November 2014, on hopes that China will take further accommodative monetary policy action if needed. The US market will close on Thursday, 27 November 2014, for the Thanksgiving holiday and Friday will be a half-day session.
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