There’s seems to be a massacre everywhere but we will stick to what is happening in the market. Given the crash on Tuesday, the markets really do not need a miracle to revive. The selling was accentuated by cross-asset volatility, dollar swings and the oil price movement. The Russian ruble's plunge sparked the sell-off across markets. The rupee which breached 63 levels will be paid close attention.
The outlook is a flat start. Indices will look at recovering from the hammering it received.
US markets ended weak ahead of the Fed Reserve meet. The Federal Reserve meeting ends today with a statement, new economic projections and a press conference by Fed Chairwoman Janet Yellen. Attention will be paid on whether the Fed changes its pledge to hold rates steady for a considerable time, says reports.
Asian indices are mixed. Japan's Nikkei was up while Hong Kong's Hang Seng index was lower. China's Shanghai index is in the green.
Hikal will see action as the board meets to consider a stock split of its equity shares.
The finance ministry will move a formal proposal seeking Cabinet endorsement for the constitutional amendment bill to facilitate the goods and services tax (GST) after securing support from the states, says a report.
Vladimir Putin has little choice but to withdraw from eastern Ukraine in order to stem the financial crisis that is spinning out of control in his country, says a report.
Prices for oil futures trading on the New York Mercantile exchange made a sharp turnaround , briefly touching an all-low of $53.60 and latter hitting a high of $57.15 a barrel.
MCX is considering having Paul Parambi, Head of Group Strategy at Kotak Mahindra Bank, as a nominee on its board, according to sources close to the development
In the past 10 days, the price at which Indian refiners bought crude oil was almost $10 a barrel lower. Indian Oil Corporation, the country’s biggest public sector refiner-cum-retailer, is concerned. “While this is good for the import bill, for companies like ours it means heavy inventory losses,” the company’s Director-Finance, AK Sharma, said, according to a report in ET.
State-run banks saw a marked rise in incidents of fraud in the first three months of this fiscal, a list compiled by the government shows, adding to concerns over the management of these lenders. The data shows that fraudsters cheated these banks of Rs 2,417 crore of public money between April and June. The amount is more than half of the loss of Rs 4,183 crore in entire 2013-14 through 1,174 cases of fraud, a report stated.
Shares of IT companies are trading higher after the Indian rupee hit its lowest level in 13-month.Tata Consultancy Services (TCS), Infosys, Tech Mahindra, Mindtree, were up 1-3% on BSE.
Shares of Mastek Ltd surged 9% at Rs353 after Majesco announced that it has entered into a definitive merger agreement with Cover-All Technologies Inc
Special Court has asked CBI to take Ex-PM Manmohan Singh's statements on coal scam, according to reports.
Moody's Investors Service outlook for the credit quality of bond funds remains stable reflecting issuers' creditworthiness underpinned by positive underlying factors,
including the significant amount of liquidity held by corporations, strengthening capital in the banking sector and a less risky, if subdued, global economic outlook.
Shares of Motherson Sumi Systems were up 2% at Rs412 after the company has signed an agreement for purchase of assets of Germany's Scherer & Trier.
Shares of Hindalco Industries ended 6% lower at Rs144, after special court rejected closure and order CBI to further investigate coal scam involving Hindalco.
Shares of Spicejet ended 3% higher at Rs13. Minister of State for Civil Aviation reportedly said that no bail out is planned for aviation sector."We will come out for with a plan for aviation sector within 3-6 months", added Minister of State.
The historic 2014 Lok Sabha elections emerged as India’s first digital election and revealed that an online presence mattered considerably for all political parties. It’s no surprise then, that the term Elections 2014 topped Google India’s trending lists this year.
In addition to seeing Elections 2014 at the top of the trending charts, Prime Minister Narendra Modi was one of the top most searched personalities this year, coming ahead of Bollywood biggies like Salman Khan and Katrina Kaif—the first time a politician has gained more search popularity than entertainment celebrities.
Report stated that at least 32 companies have been found by SEBI to be operating unauthorised money-pooling schemes in the garb of real-estate business. SEBI had received 302 complaints against 32 real estate companies and has passed orders against them for running Collective Investment Schemes (CIS) without registration, says report.
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