Tuesday 24 May 2016

Opening Bell - Sensex, Nifty flat

At 9:15 AM, the S&P BSE Sensex is trading at 25,221 down 9 points, while NSE Nifty is trading at 7,723 down mere eight points.

Bombay Stock Exchange BuildingAt 9:15 AM, the S&P BSE Sensex is trading at 25,221 down 9 points, while NSE Nifty is trading at 7,723 down mere eight points.

The Indian rupee opened lower by 17 paise at 67.66/$ against US Dollar on Tuesday as against the previous close of 67.49/$. In international markets, the greenback maintained firm tone against the basket of currencies, barring Japanese Yen. Yen regained lost ground after several ministers at G‐7 meeting echoed objections in respect with intervention by BOJ in the currency markets.  

Skymet Weather will have a briefing and provide update  on "Monsoon 2016-impact on agriculture & industry. The rupee could see slight weakness in early trade. Results to watch out for include Tech Mahindra, Cipla, Colgate-Palmolive, MOIL, Bharat Gears, Jubilant Life Sciences, J.Kumar Infraprojects,  Amara Raja Batteries, Bajaj Finance, Power Finance Corporation Page Industries and Subex.  Asian markets are trading lower. Japanese stocks are under pressure on the back of fresh strength in the yen against the dollar, with the benchmark Nikkei 225 down 0.68%. Wall Street ended lower on Monday. A bounce in Apple failed to offset concerns that the US Federal Reserve could raise interest rates sooner than later. The Dow Jones industrial average declined 0.05% to end at 17,492.93 points and the S&P 500 lost 0.21% to 2,048.04. The Nasdaq Composite dipped 0.08% to 4,765.78.

India’s  4Q FY16 gross market borrowing has been revised lower to Rs5.85tn.

India will sell Rs.150bn of four govt bonds on May 27, according to the RBI

LIC Housing Finance is expected to sell Rs. 7.85 bn 2-part bond

Cochin Shipyard is set to hold a pre-bid meet with bankers for IPO later this week.

India and Iran agreed to share intelligence in a bid to fight the menace that is “rife and rampant” in the region. The two countries also inked a dozen agreements, ranging from a contract to develop the strategic Chahabar port to an initial pact to set up an aluminium plant and one on laying a railway line to give India access to Afghanistan and Central Asia.

The public debt declined marginally to Rs.55.73 lakh crore at the end of March 2016, showing a quarter-on-quarter reduction of 0.04%.

L&T Infotech, an arm of engineering giant Larsen and Toubro (L&T), has received capital markets regulator SEBI's approval for its proposed initial public offering

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