Asian markets are directionless for now with the bias weak. Choppiness could set in as traders adjust their positions on account of F&O expiry. US stock indices recovered from steep losses to close modestly higher. The trend in stocks mirrored movement in oil prices, which also recovered from early losses.
After days of weakness volatility is set to amplify on account of F&O expiry and the railway budget. Stocks like Siemens, BEML, Texmaco, Titagarh Wagons and Timken are expected to be on investors’ radar as expectations are high that a major chunk of the incremental budget could be spent towards construction of new lines, doubling of lines and towards raising rolling stock (including engines, coaches, wagons). Should a freight hike happen, logistic companies may have a temporary run at the expense of few sectors. Also, what remains interesting to watch is what decision the Railway minister would take to improve the strained finances.
The outlook is a flat start. Asian markets are directionless for now with the bias weak. Choppiness could set in as traders adjust their positions on account of F&O expiry. US stock indices recovered from steep losses to close modestly higher. The trend in stocks mirrored movement in oil prices, which also recovered from early losses. Materials and energy stocks were the leading gainers on the S&P 500 index, rising by 1% and 0.9% respectively. Financial was the only sector that closed in the red, down 0.2%. Oil futures gained 0.9% but was largely volatile after data from the US Energy Information Administration (EIA) showed a rise in weekly crude-oil supplies by 3.5 million barrels but also indicated a decline in crude production. Brent reversed earlier losses to jump by 2.8%.
On the data front, sales of new homes plunged in January to the lowest level since October, the Commerce Department said on Wednesday. A preliminary reading on February’s activity in the US services sector dropped to the lowest level in nearly two-and-a-half years.
Eastern India Power & Mining has purchased total 87,350 shares of ISTL at a price of Rs. 655 from Delux Associates LLP in a bulk deal valued at Rs. 5.72 crore.
ZYMA Laboratories has purchased total 300,000 shares of Lupin at a price of Rs. 1,770 from Deshbandhu Gupta in a block deal value at Rs. 5.31 crore.
Assocham has called for an increase in ticket prices in Railway Budget 2016.“There is lack of political will to raise passenger fares even though the reluctance is not shared by passengers,” Assocham reportedly said in a memorandum submitted to Railway Minister Suresh Prabhu.
SAIL is planning to invest over Rs. 10,200 crore on mine development, according to reports.
Sugar stocks ended higher. According to the International Sugar Organisation (ISO), there is likely to be global sugar shortfall of 5 million tonnes in FY16, much higher than November estimates of 3.5 million tonnes.
The outlook is a flat start. Asian markets are directionless for now with the bias weak. Choppiness could set in as traders adjust their positions on account of F&O expiry. US stock indices recovered from steep losses to close modestly higher. The trend in stocks mirrored movement in oil prices, which also recovered from early losses. Materials and energy stocks were the leading gainers on the S&P 500 index, rising by 1% and 0.9% respectively. Financial was the only sector that closed in the red, down 0.2%. Oil futures gained 0.9% but was largely volatile after data from the US Energy Information Administration (EIA) showed a rise in weekly crude-oil supplies by 3.5 million barrels but also indicated a decline in crude production. Brent reversed earlier losses to jump by 2.8%.
On the data front, sales of new homes plunged in January to the lowest level since October, the Commerce Department said on Wednesday. A preliminary reading on February’s activity in the US services sector dropped to the lowest level in nearly two-and-a-half years.
Eastern India Power & Mining has purchased total 87,350 shares of ISTL at a price of Rs. 655 from Delux Associates LLP in a bulk deal valued at Rs. 5.72 crore.
ZYMA Laboratories has purchased total 300,000 shares of Lupin at a price of Rs. 1,770 from Deshbandhu Gupta in a block deal value at Rs. 5.31 crore.
Assocham has called for an increase in ticket prices in Railway Budget 2016.“There is lack of political will to raise passenger fares even though the reluctance is not shared by passengers,” Assocham reportedly said in a memorandum submitted to Railway Minister Suresh Prabhu.
SAIL is planning to invest over Rs. 10,200 crore on mine development, according to reports.
Sugar stocks ended higher. According to the International Sugar Organisation (ISO), there is likely to be global sugar shortfall of 5 million tonnes in FY16, much higher than November estimates of 3.5 million tonnes.
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