Indices to open weak

With indices hitting new highs recently, and the big events of the budget and surprise rate cut over, opportunities are not going to come easy for the market.

With indices hitting new highs recently, and the big events of the budget and surprise rate cut over, opportunities are not going to come easy for the market. Before the result season kicks in, we are already hearing voices of concern to temper any better expectations. Infosys will reportedly announce its numbers later than usual while TCS will be in focus today after its CFO said that its results will be in line with last year following weakness in the energy segment.

The indices are expected to open on a weak to flat note. Global cues have nothing to suggest an immediate upmove. ECB will commence its monthly US$66.3bn bond purchases today. The events unfolding in Greece will be eyed. 

The ECB stimulus US stocks were lower on Friday on reports that US Federal Reserve could raise interest rates sooner than anticipated. Nonfarm payrolls rose 295,000 last month, after a downwardly revised 239,000 gain in January. Asian markets are mostly lower. Japan’s Nikkei has lost almost a percent while Hang Seng is down over 1%. China’s Shanghai is also in the red.

Hindalco and Jindal Power could be in focus after they bagged a mine each during the coal auctions on the third day.  Concerns of US sanctions for dealing with Iran could take hit sentiment of IOC, ONGC and OIL.

Questioning the new GDP growth numbers, the RBI has asked the government for more information to figure out the "potential growth rate" — a key parameter in monetary policy decisions, says a report in ET.

The Foreign portfolio investors (FPIs) have bought shares worth a net amount of Rs. 31,256 crore till March 5 this year, while in the debt segment, their net inflows stand at Rs. 37,296 crore, taking the total to Rs. 68,552 crore (USD 11.08 billion), as per the data compiled by the Central Depository Services Ltd (CDSL), says a report.

TCS, RIL, HDFC Bank and HDFC also saw rise in m-cap, while ITC, ONGC, Infosys, CIL and SBI shed weight. The m-cap of Sun Pharma surged Rs. 26,162.98 crore to Rs. 2,14,845.98 crore, the biggest gain among the top - 10 Sensex firms, says a report.

With a view to encourage availability of affordable housing to such borrowers, RBI has decided that in cases where the cost of the house/dwelling unit does not exceed Rs.10 lakh, banks may add stamp duty, registration and other documentation charges to the cost of the house/dwelling unit for the purpose of calculating LTV ratio.

The ongoing auction of telecom spectrum in India is likely to increase the gap between the country's top telecommunication companies (telcos) and their smaller peers, Standard & Poor's Ratings Services said.

The Swachh Bharat cess will be levied on select services at the rate of up to 2 per cent, depending upon the need for funds to take forward the Prime Minister’s national cleanliness drive.

CCI has approved Reliance Industries' proposed deal to sell 49% stake in a textile firm to Chinese company RuYi, says report.Under the proposed deal, CSTT Co Holdings would acquire 49% stake in a textile company to be incorporated by RIL as its wholly owned subsidiary. RIL’s existing textile business is the founding business of RIL and operates under the well-known brand ‘Vimal’

SAP is planning to slash about 2,250 posts, or around 3 percent of its global workforce, according to reports. Last year, the company cut similar percentage of jobs, Stefan Ries, SAP's chief of human resources quoted.

Apple Inc will be added to the Dow Jones industrial average next month, says a report.