At 9:16AM, the S&P BSE Sensex is trading at 29,090 down 92 points, while NSE Nifty is trading at 8,790 down 18 points.
The BSE Mid-cap Index and BSE Small-cap Index was trading flat.
Auto, Consumer Durables, Power, healthcare, realty, banking, capital goods, Oil and gas indices are the gainers, while Metal, Bankex, FMCG indices are losers.
GMR Infra, Ranbaxy, Adani, Tech Mahindra, HDIL, Sun Pharma are among the gainers, whereas DRREDDY, Coal India, ICICI Bank, Bank of Baroda are losing sheen on BSE.
The RBI governor is expected to leave rates unchanged after a surprise cut a couple of weeks ago.
Stock specific action will continue on companies especially those announcing their results.
Oil price movement and currency movements are also at play.
Auto companies will react to their sales numbers.
Adani group will also be in focus following the restructuring developments.
FIIs bought shares worth Rs 12,919 crore (USD 2.1 billion) in January, while they bought debt worth Rs 20,769 crore (USD 3.34 billion), taking the total investment to Rs 33,688 crore (USD 5.45 billion), says a report.
This is the highest investment since July when overseas investors had poured in Rs 36,046 crore, the report adds.
The government overshot the full-year fiscal deficit target in December itself but this could be offset by a pickup in tax revenue, money from disinvestment and spectrum auctions, surplus transfers by RBI, substantial savings due to tardy plan spending as also those in nonplan spending due to the fall in crude oil prices, a report stated.
Hindustan Construction Company has deferred plans to list its subsidiary Lavasa Corporation for raising Rs 750 crore through initial public offer to next fiscal, a top company official said.
It has also shelved plans to raise another Rs 750 crore through an issue of equity shares to qualified institutional investors to next fiscal. The Ministry of Statistics & Programme Implementation has released the new series of national accounts, revising the base year from 2004-05 to 2011-12.
The base year of national accounts was last revised in January 2010. Real GDP or GDP at constant (2011-12) prices stands at Rs.92.8 lakh crore and Rs.99.2 lakh crore, respectively for the years 2012-13 and 2013-14, showing growth of 5.1 percent during 2012-13, and 6.9 percent during 2013-14.
Maharashtra Chief Minister Devendra Fadnavis announced Mumbai Next: MMR Transformation – the government’s initiative to transform the Mumbai Metropolitan Region (MMR) into a Global, Financial, Commercial & Entertainment Hub in partnership with Mumbai First, a body that promotes and supports policy for the betterment of Mumbai.
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