Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 16 points at the opening bell. Asian markets were trading mostly higher on Thursday as investors grew hopeful that US will be able to end the political deadlock and break the US fiscal impasse.
The board of directors of Reliance Infrastructure at its meeting held Wednesday, 9 October 2013, approved raising of long term resources including through external commercial borrowings (ECBs), foreign currency convertible bonds, and rupee term loans/NCDs, up to Rs 2500 crore, for refinancing and extending maturities of higher cost rupee debt and/or other approved end uses.
Foreign institutional investors (FIIs) bought shares worth a net Rs 326.58 crore on Wednesday, 9 October 2013, as per provisional data from the stock exchanges.
Key benchmark indices surged on Wednesday, 9 October 2013 after the latest data showed that the trade deficit narrowed sharply in September 2013 from August 2013, reducing concerns about the country's current account deficit. The S&P BSE Sensex surged 265.65 points or 1.33% to settle at 20,249.26, its highest closing level since 20 September 2013.
Asian markets were trading mostly higher on Thursday, 10 October 2013, as investors grew hopeful that US will be able to end the political deadlock and break the US fiscal impasse. Key benchmark indices in Singapore, Japan, South Korea, Hong Kong and Indonesia rose by 0.01% to 0.88%. China's Shanghai Composite fell 0.22%. Taiwan's markets were closed for a holiday.
Japanese core machinery orders rose 5.4% in August from the previous month, the government said Thursday, on a recovery in capital spending by businesses and increased demand ahead of a planned sales-tax hike. That came after a 0.03% decline in July, and was the first rise in three months.
US stocks ended mostly higher on Wednesday, 9 October 2013, with signs of progress in ending deadlock in Washington after news that US President Barack Obama would meet House Democrats on Wednesday and House Republicans on Thursday. Investors focus remains on the ongoing fiscal impasse in the US, with investors concerned that Washington could pass the deadline to raise the debt ceiling -- a move that could lead to a default.
US markets offered little reaction to the Federal Reserve's release of minutes from its September meeting, at which the Fed unexpectedly refrained from tapering its $85 billion in monthly asset purchases. Most Federal Reserve policy makers said they were likely to reduce the pace of bond purchases this year, according to minutes of their last meeting, which took place before the US government partial shutdown started.
Meanwhile, US President Barack Obama on Wednesday, 8 October 2013, nominated Janet Yellen, the current Fed vice chairman and an architect of its stimulus program, to succeed Ben S. Bernanke as central bank chairman.
The Federal Open Market Committee (FOMC) holds a two-day policy meeting on 29-30 October 2013. The lack of data may make it harder for the Federal Reserve to assess the economy's strength as policy makers mull the timing of reductions in bond buying. Government data from payrolls to retail sales will be delayed as long as the shutdown continues. On 18 September 2013, the Fed surprised economists and investors with its decision to delay scaling back its stimulus amid concerns about the strength of the economic recovery.
Brazil's central bank on Wednesday raised the country's baseline lending rate once more by half a point, as expected. But the central bank disappointed some investors by giving no sign that it will slow the pace of rate hikes going forward. In a unanimous vote, the monetary policy committee, or Copom, raised the Selic rate to 9.5%.
The OPEC is slated to release its monthly oil report later today, 10 October 2013.
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