Global cues are signaling further weakness for the day. Japan's Nikkei and China's CIS300 have lost 1.5% each. Hong Kong's Hang Seng is down 0.7% while South Korea's Kospi is flat. US stock indices slipped on Tuesday after five straight sessions of gains amid persistent worries over oil prices and slowdown in China.
The market has very little to bank on for racing ahead with bank-frauds coming to light at regular intervals are making investors lose their faith in the rally. CBI investigating alleged fraud at Syndicate Bank has hurt sentiment further. Technically speaking, the Nifty was unable to surpass the 7550 resistance level and has created a Doji pattern indicating reversal of trend is on the cards. Investors have pumped in over Rs 23,000 crore into various mutual fund schemes in February, with liquid or money market segment contributing the most to the inflow even as the MF industry saw its asset pile shrink for the fourth month on the trot in February.
The outlook is a weak to flat start. Global cues are signaling further weakness for the day. Japan's Nikkei and China's CIS300 have lost 1.5% each. Hong Kong's Hang Seng is down 0.7% while South Korea's Kospi is flat. US stock indices slipped on Tuesday after five straight sessions of gains amid persistent worries over oil prices and slowdown in China.The Dow slid 0.6%, S&P 500 index dropped 1.1% and Nasdaq lost 1.3%. Crude oil futures tumbled as traders bet that weekly data will reveal a fourth straight climb in US crude inventories even as doubts prevail over an output freeze.
Investors on Wall Street were also bracing for a meeting of the European Central Bank (ECB) policy makers on Thursday, where are they are expected to announce further stimulus. Earlier, global stocks came under pressure after Chinese trade data showed exports falling for an eighth successive month. Chinese exports fell by a whopping 25.4% in February, compared with a 15% drop expected, while imports were down 13.8%.
Pharmaceuticals stocks could hog some limelight after US industry body said that India agreed to not issue ‘compulsory’ drug licences’. The USTR has placed India on its "priority watch" list for two years in a row saying the country's patent laws unfairly favour local drugmakers.
Stocks like NMDC and Coal India will be in focus as the cabinet is likely to consider mines ministry's proposal to allow auction of 100 mineral blocks for exploration as early as this week as the government tries to revive exploration activity in the country.
The Indian Rupee snapped its six days rising streak and closed weak on fresh demand of the American currency from importers and banks. A firm dollar against some global currencies overseas also weighed on the rupee.
In international markets, US dollar lost ground against the basket of currencies, with Sterling categorically registering an impressive rebound from the lows of 1.39 and moving towards the high of 1.425. Meanwhile, Euro is also trading firm around 1,10 levels. Market focus will be accentuated on ECB policy meeting next week, wherein the central bank is expected to increase the size or the duration of the monthly bond buying program.
Trishakti Power Holdings Private Limited has purchased total 50,000 shares of ACGL in a bulk deal, at a price of Rs. 400.50 from Hina Kirti Doshi in a bulk deal valued at Rs. 2 crore. Tista Tradelinks Private Limited has purchased total 500,000 shares of ADHUNIKIND in a block deal, at a price of Rs. 89.7 from OM Sarvavidya Consultants LLP in a block deal valued at Rs. 4.48 crore.
Any ambiguity faced by companies at the time of takeovers will now be a little more simplified, with SEBI stepping into the picture. With its move to peg shareholding limit at 25 per cent, the Securities and Exchange Board of India appears to signal its control in the area of mergers and acquisitions (M&As), said a Livemint report.
Amid swinging market movements and investor sentiments, as many as 21 small and medium enterprises (SMEs) are expected to mop up Rs. 180 crore via initial public offerings (IPO) as they have filed draft papers with the market regulator Sebi in 2016 so far.
The Reserve Bank of India signed a Memorandum of Understanding (MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with Bank of Israel.
Suzuki Motorcycle India Ltd. (SMIPL) on Tuesday said that it had started the assembly of its flagship motorcycle Hayabusa at its plant in Gurgaon, Haryana.
NTPC Kudgi Super Thermal Power Project’s (STPP) first unit of 800 MW is set to start commercial production in September, reports a business daily.
The Bank of England (BOE) on Tuesday warned that the possibility of Britain choosing to leave the European Union (EU) represents the biggest domestic risk to the stability of the UK financial system.
The outlook is a weak to flat start. Global cues are signaling further weakness for the day. Japan's Nikkei and China's CIS300 have lost 1.5% each. Hong Kong's Hang Seng is down 0.7% while South Korea's Kospi is flat. US stock indices slipped on Tuesday after five straight sessions of gains amid persistent worries over oil prices and slowdown in China.The Dow slid 0.6%, S&P 500 index dropped 1.1% and Nasdaq lost 1.3%. Crude oil futures tumbled as traders bet that weekly data will reveal a fourth straight climb in US crude inventories even as doubts prevail over an output freeze.
Investors on Wall Street were also bracing for a meeting of the European Central Bank (ECB) policy makers on Thursday, where are they are expected to announce further stimulus. Earlier, global stocks came under pressure after Chinese trade data showed exports falling for an eighth successive month. Chinese exports fell by a whopping 25.4% in February, compared with a 15% drop expected, while imports were down 13.8%.
Pharmaceuticals stocks could hog some limelight after US industry body said that India agreed to not issue ‘compulsory’ drug licences’. The USTR has placed India on its "priority watch" list for two years in a row saying the country's patent laws unfairly favour local drugmakers.
Stocks like NMDC and Coal India will be in focus as the cabinet is likely to consider mines ministry's proposal to allow auction of 100 mineral blocks for exploration as early as this week as the government tries to revive exploration activity in the country.
The Indian Rupee snapped its six days rising streak and closed weak on fresh demand of the American currency from importers and banks. A firm dollar against some global currencies overseas also weighed on the rupee.
In international markets, US dollar lost ground against the basket of currencies, with Sterling categorically registering an impressive rebound from the lows of 1.39 and moving towards the high of 1.425. Meanwhile, Euro is also trading firm around 1,10 levels. Market focus will be accentuated on ECB policy meeting next week, wherein the central bank is expected to increase the size or the duration of the monthly bond buying program.
Trishakti Power Holdings Private Limited has purchased total 50,000 shares of ACGL in a bulk deal, at a price of Rs. 400.50 from Hina Kirti Doshi in a bulk deal valued at Rs. 2 crore. Tista Tradelinks Private Limited has purchased total 500,000 shares of ADHUNIKIND in a block deal, at a price of Rs. 89.7 from OM Sarvavidya Consultants LLP in a block deal valued at Rs. 4.48 crore.
Any ambiguity faced by companies at the time of takeovers will now be a little more simplified, with SEBI stepping into the picture. With its move to peg shareholding limit at 25 per cent, the Securities and Exchange Board of India appears to signal its control in the area of mergers and acquisitions (M&As), said a Livemint report.
Amid swinging market movements and investor sentiments, as many as 21 small and medium enterprises (SMEs) are expected to mop up Rs. 180 crore via initial public offerings (IPO) as they have filed draft papers with the market regulator Sebi in 2016 so far.
The Reserve Bank of India signed a Memorandum of Understanding (MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with Bank of Israel.
Suzuki Motorcycle India Ltd. (SMIPL) on Tuesday said that it had started the assembly of its flagship motorcycle Hayabusa at its plant in Gurgaon, Haryana.
NTPC Kudgi Super Thermal Power Project’s (STPP) first unit of 800 MW is set to start commercial production in September, reports a business daily.
The Bank of England (BOE) on Tuesday warned that the possibility of Britain choosing to leave the European Union (EU) represents the biggest domestic risk to the stability of the UK financial system.
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