The Nasdaq closed at 50009, up 0.9%; these are levels last seen in the year 2000 when dotcom mania had gripped Wall Street. Dow rose 0.8% while S&P added 0.6%. Asian markets are mixed with Nikkei and Hang Seng in the green while China’s Shanghai is in the red.
Fiscal deficit has risen to Rs5.68trn in April-January period, way beyond the budget estimates. The government seems to be relying on ‘off-balance sheet’ debt for funding a large part of its capex push. Almost 80% of incremental resources outside the budget is expected to come from higher borrowings. This raises legitimate questions about ‘true’ fiscal deficit but also highlights the fuzzy nature of the concept of fiscal deficit itself. Meanwhile, the Finance Minister says India's economy needs to reach an annual growth rate of 9 per cent to 10 per cent and then sustain that activity "many, many more years than 10 years" in order to improve infrastructure and bring down rampant poverty.
That’s all well known but what is in store for the market? The outlook is flat start. Indices could swing in and out of positive zone today. With Nasdaq kissing the 5000 mark, the Nifty’s 9000 number is in focus. US indices gained despite economic numbers indicating a slowdown. Perhaps investors are reconciled to the fact that there is some growth nevertheless at a moderate pace. The Nasdaq closed at 50009, up 0.9%; these are levels last seen in the year 2000 when dotcom mania had gripped Wall Street. Dow rose 0.8% while S&P added 0.6%. Asian markets are mixed with Nikkei and Hang Seng in the green while China’s Shanghai is in the red.
Adlabs Entertainment, which runs an amusement park, is opening its initial public offer (IPO) on March 10.The issue will close on March 12. The company has fixed the price band at Rs. 221 to Rs. 230 per Equity Share.
Ortel Communications Limited public issue opens today. The Price Band is fixed from Rs. 181 to Rs. 200 per Equity Share.
The government is set to liberalise foreign direct investment norms for non-resident Indians as part of its efforts to boost capital flows in sectors such as defence and railways, says a report. This could prompt some action in these counters.
Brent futures fell 5% on reports supplies could increase in case a nuclear deal lifts Iran's sanctions and boosts its oil exports.
Auto stocks ended on a mixed note following the monthly sales data. Shares of Maruti and Ashok Leyland rallied while those of Bajaj Auto and Hero MotoCorp slipped. Tata Motors shares too were down.
Firms plan to raise Rs 52,986 crore through qualified institutional placement (QIPs) in 2015, according to an analysis of corporate announcements on stock exchanges and conversations with merchant bankers and companies, says a report in ET.
Shares of oil marketing companies flared after oil firms hiked petrol and diesel prices by around Rs. 3 each. Shares of BPCL gained 4% to Rs. 779. HPCL soared 6% to Rs. 657. Indian Oil (IOC) gained 5.5% at Rs. 350.
Shares of Jet Airways ended 3% lower after Jet fuel price was hiked by a steep 8.2 per cent.
Reliance Industries ended lower at Rs.863 on reports of a fire accident at one of its associate company Reliance Gas Transportation Infrastructure (RGTIL)'s pipeline in Maddikunta, a remote area in Telangana.
GMR Infrastructure plunged ended 6% lower to Rs. 17.70 after the company priced its rights issue at a significant discount, i.e. Rs. 15 per share.
HCC hit 10% upper circuit at Rs. 39, as the Union Budget announced by FM Arun Jaitley had sops for the Infra sector.
The firm plans to issue 2.03 crore shares including 20 lakh shares offered for sale by the promoter, Thrill Park Ltd. The company intends to deploy the funds raised from the fresh issue for payment of loans and general corporate purposes.
Ola (formerly Olacabs) has acquired TaxiForSure, India’s second largest cab aggregator, for $200 mn in a cash and equity deal. With this deal, Ola, which is already the market leader in the personal transportation space with over 1-lakh vehicles on its platform, has further deepened its footprint with TaxiForSure’s operator led model.
Almost 60% of Asian retail investors who have exited mutual funds do so because the funds have achieved their target returns. Slightly less than half exited due to poor fund performance, while two in five retail investors redeemed fund investments in anticipation of poor market conditions.
That’s all well known but what is in store for the market? The outlook is flat start. Indices could swing in and out of positive zone today. With Nasdaq kissing the 5000 mark, the Nifty’s 9000 number is in focus. US indices gained despite economic numbers indicating a slowdown. Perhaps investors are reconciled to the fact that there is some growth nevertheless at a moderate pace. The Nasdaq closed at 50009, up 0.9%; these are levels last seen in the year 2000 when dotcom mania had gripped Wall Street. Dow rose 0.8% while S&P added 0.6%. Asian markets are mixed with Nikkei and Hang Seng in the green while China’s Shanghai is in the red.
Adlabs Entertainment, which runs an amusement park, is opening its initial public offer (IPO) on March 10.The issue will close on March 12. The company has fixed the price band at Rs. 221 to Rs. 230 per Equity Share.
Ortel Communications Limited public issue opens today. The Price Band is fixed from Rs. 181 to Rs. 200 per Equity Share.
The government is set to liberalise foreign direct investment norms for non-resident Indians as part of its efforts to boost capital flows in sectors such as defence and railways, says a report. This could prompt some action in these counters.
Brent futures fell 5% on reports supplies could increase in case a nuclear deal lifts Iran's sanctions and boosts its oil exports.
Auto stocks ended on a mixed note following the monthly sales data. Shares of Maruti and Ashok Leyland rallied while those of Bajaj Auto and Hero MotoCorp slipped. Tata Motors shares too were down.
Firms plan to raise Rs 52,986 crore through qualified institutional placement (QIPs) in 2015, according to an analysis of corporate announcements on stock exchanges and conversations with merchant bankers and companies, says a report in ET.
Shares of oil marketing companies flared after oil firms hiked petrol and diesel prices by around Rs. 3 each. Shares of BPCL gained 4% to Rs. 779. HPCL soared 6% to Rs. 657. Indian Oil (IOC) gained 5.5% at Rs. 350.
Shares of Jet Airways ended 3% lower after Jet fuel price was hiked by a steep 8.2 per cent.
Reliance Industries ended lower at Rs.863 on reports of a fire accident at one of its associate company Reliance Gas Transportation Infrastructure (RGTIL)'s pipeline in Maddikunta, a remote area in Telangana.
GMR Infrastructure plunged ended 6% lower to Rs. 17.70 after the company priced its rights issue at a significant discount, i.e. Rs. 15 per share.
HCC hit 10% upper circuit at Rs. 39, as the Union Budget announced by FM Arun Jaitley had sops for the Infra sector.
The firm plans to issue 2.03 crore shares including 20 lakh shares offered for sale by the promoter, Thrill Park Ltd. The company intends to deploy the funds raised from the fresh issue for payment of loans and general corporate purposes.
Ola (formerly Olacabs) has acquired TaxiForSure, India’s second largest cab aggregator, for $200 mn in a cash and equity deal. With this deal, Ola, which is already the market leader in the personal transportation space with over 1-lakh vehicles on its platform, has further deepened its footprint with TaxiForSure’s operator led model.
Almost 60% of Asian retail investors who have exited mutual funds do so because the funds have achieved their target returns. Slightly less than half exited due to poor fund performance, while two in five retail investors redeemed fund investments in anticipation of poor market conditions.
No comments:
Post a Comment