Wednesday, 9 December 2015

Sensex, Nifty to open on a weak note

Global indices are mostly weak. CPI numbers in China are not encouraging as it grew by a mere 1.5% confirming the slowdown. Japanese Nikkei is down over a percent while China's Shanghai Composite is marginally lower.


Sensex, BSE, Mumbai
Investors seem to be silently watching their wealth evaporate even as the noise increases in Parliament. The GST Bill which one hoped would get passed this Winter session is facing fresh trouble after opposition raised their decibel protesting against Delhi High Court summons to Congress leaders Sonia Gandhi and Rahul Gandhi in the National Herald case which led to Parliament getting adjourned yet again.

The outlook is a weak start. Global indices are mostly weak. CPI numbers in China are not encouraging as it grew by a mere 1.5% confirming the slowdown. Japanese Nikkei is down over a percent while China's Shanghai Composite is marginally lower. Hong Kong's Hang Seng has shed 0.7% while South Korea's Kospi is in the green. Crude continues to cool causing energy shares worldwide to run out of fuel.

Meanwhile, in December alone FPIs have reportedly sold equities worth Rs 4,200 crore.  The currency movement will be tracked after the rupee hit a fresh 27-month low against the US dollar. Rupee could remain weak as importers' looking at adding dollars. This could be offset by some dollar sales by PSU banks.

The Weekly meeting of the CCEA and Cabinet will be held this evening. Pearl Electronics will mull and clear consolidation of equity shares. Tricom India will look at allotment of shares on preferential basis.

A special court will hear final arguments in a case arising out of the 2G scam probe in which promoters of the Essar Group and Loop Telecom Ltd are facing trial. Special CBI judge OP Saini earlier deferred the hearing as the court was hearing final arguments in a separate 2G spectrum allocation case in which former telecom minister A Raja and 16 others are facing trial, says a report.

State Bank of India (SBI) on Tuesday said that it had not committed to extend any loan to the Australian coal mines project of Adani Group but had only signed a conditional Memorandum of Understanding (MoU).

The Government has cut its market borrowings target for the second half of FY16 by INR 15,000 crore, citing the launch of the Sovereign Gold Bond and Gold Monetisation schemes.

Gati Infrastructure Ltd. is reportedly planning to raise 100 million pounds in the next few months to fund its energy business, reports a business daily.

Japanese auto major Toyota is planning to increase prices of its vehicles across all models in India by up to 3% from January.

Employees' Provident Fund Organisation is planning to increase the interest rate on PF deposits for 2015-16, from 8.75 percent fixed for the last two financial years, during its trustees' meet tomorrow, according to reports.

Dr Reddy's Laboratories submitted a response to the US health regulator on a warning letter it had received last month.

Infosys is on track to meet sustainability goals by 2018: Ramadas Kamath, executive VP reportedly said.

The government has reduced market borrowing for the second half of FY16 by Rs 15,000 crore.

Toyota will hike prices of  vehicles across all models in India by up to 3% from January, according to reports.

Wockhardt Ltd has announced that it has received QIDP status for new antibiotic product from FDA.

Airtel is planning to launch 4G services in Rajasthan within a few days and cover other important cities in next six months, says report.

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