Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 3.50 points at the opening bell. Most Asian stocks rose today, 11 September 2014. Shares of state-run companies ONGC, Coal India and NHPC will be in focus after the Cabinet Committee on Economic Affairs on Wednesday, 10 September 2014, approved stake sales in these three companies. The government will sell a 5% stake in ONGC, 10% in Coal India (CIL) and 11.36% in NHPC.
Tata Motors will be watched after Jaguar Land Rover (JLR), the UK's leading manufacturer of premium luxury vehicles delivered a positive sales performance in August 2014, retailing 30,249 vehicles, up 9% versus the same period last year.
Jaguar sales in the month of August retailed 5,074. Calendar year-to-date sales were up 11% year-on-year, retailing 54,730 vehicles. Land Rover continues to strengthen its position, selling 25,175 vehicles in August 2014, with strong performances across the range. Calendar year-to-date sales reached 250,124 vehicles, up 13% year-on-year.
NTPC said after market hours on Wednesday, 10 September 2014, that the Board of Directors of the company at its meeting held on 10 September 2014, has accorded the investment approval to Tanda Super Thermal Power Project in the state of Uttar Pradesh at an appraised current estimated cost of Rs 9188.98 crore and Rammam Hydro Electric Project in the state of West Bengal at an appraised current estimated cost of Rs 1381.84 crore.
IDFC after trading hours on Wednesday, 10 September 2014, announced the opening of share sale to institutional investors. The company intends to raise up to Rs 2000 crore from the sale of shares to Qualified Institutional Buyers (QIB). The floor price for the issue has been set at Rs 143.70 per share.
IndusInd Bank said after market hours on Wednesday, 10 September 2014, that the bank has opened two branches in Chandigarh and one branch in Mohali in the state of Punjab. The bank plans to further strengthen its presence and customer reach in Punjab and Haryana with more branches in the coming quarters.
Data due later this week and early next week is likely to show easing of inflation in August 2014 and a muted growth in industrial production in July 2014. The annual rate of inflation based on the combined consumer price indices (CPI) for urban and rural India is seen decelerating to 7.8% in August 2014, from 7.96% in July 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will release the CPI data for August 2014 at 17:30 IST tomorrow, 12 September 2014. The Reserve Bank of India (RBI) is targeting CPI inflation at 8% by January 2015 and 6% by January 2016.
Meanwhile, the growth in industrial production is seen decelerating to 1.9% in July 2014, from 3.4% in June 2014, as per the median estimate of a poll of economists carried out by Capital Market. Industrial production growth had eased to 3.4% in June 2014, from 5% increase recorded in May 2014. The government will release the industrial production data for July 2014 at 17:30 IST tomorrow, 12 September 2014.
The annual rate of inflation based on the monthly Wholesale Price Index (WPI) is seen decelerating to 4.43% in August 2014, from 5.19% in July 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will release the WPI data for August 2014 at 12 noon on Monday, 15 September 2014.
Key benchmark indices dropped for second day in a row on Wednesday, 10 September 2014 on speculation that US interest rates will rise sooner than expected. Higher interest rates could lure money to the US from emerging markets, including India. The S&P BSE Sensex fell 207.91 points or 0.76% to settle at 27,057.41, its lowest closing level since 5 September 2014.
Meanwhile, the provisional data released by the stock exchanges after trading hours yesterday, 10 September 2014, showed that foreign portfolio investors (FPIs) sold shares worth a net Rs 9.91 crore on that day.
Most Asian stocks rose today, 11 September 2014. Key benchmark indices in China, Hong Kong, Japan, Indonesia and Singapore rose by 0.22% to 0.5%. Key benchmark indices in Taiwan and South Korea fell by 0.16% to 0.26%.
US stocks edged higher on Wednesday, 10 September 2014 helped by rebound in Apple shares.
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