Sensex, Nifty to open on a weak note

Global cues are weak and investors could get jittery and turn reluctant in taking exposure to equities. Many would remain on the sidelines to get a better idea of the corporate results as they start flowing in.

Market participants will be again running for cover as the impact of weakness in China is sure to spill over on bourses across the world including India. Trading on China’s stock market was suspended after shares crashed 7% leading to a lower circuit on the index.  The Shanghai Composite Index plunged 6.75%. The Shenzhen Composite Index, tumbled over 8%. Meanwhile, People's Bank of China has set the Yuan’s reference rate at 6.5646, the lowest levels since April 2011. Offshore, the currency today is trading around 6.59 levels against the greenback. In order to stem the rout in the markets, Chinese central bank has injected further liquidity by initiating weekly reverse repos worth US$70bn.

The outlook is a weak start for the market. Overall, the sentiment remains fragile. Global cues are weak and investors could get jittery and turn reluctant in taking exposure to equities. Many would remain on the sidelines to get a better idea of the corporate results as they start flowing in.

The World Bank said that India would remain by far the fastest growing large economy in 2016 even as it scaled down its global growth forecast. In its report titled Global Economic Prospects, the World Bank projected that the Indian economy will grow by 7.8% in 2016 while China will grow by 6.7%. The world  economy would expand by 2.9%, a modest upturn from the 2.4% growth estimated for 2015. This still represents a downgrade from its June forecast for a 3.3% growth.

Finance Minister Arun Jaitley said that in the first half of FY16, the Indian Economy has achieved robust growth rate despite volatility and uncertainty in global economy. He said that this was made possible by a slew of policy measures undertaken by the present Government including enhanced public investment, kick starting stalled projects, improving the status of financial inclusion significantly, improving governance through systematic changes like open auction of natural resources like coal and spectrum in a transparent manner, and greater fiscal federalism and improving business environment through reforms in policies and regulation among others.


Uber said that it has partnered with Invest India, the official government agency dedicated to investment promotion and facilitation, to mentor entrepreneurs over the next 12 months.

Ministry of Road Transport & Highways has decided to leapfrog from BS-IV to BS-VI emission norms directly by 01.04.2020.


Indian companies raised the lowest amount via both onshore and offshore debt markets in six years last year owing to subdued domestic investment climate and volatile global markets, reports a business daily.

Making it a hat-trick of successful listing among the healthcare space, Narayana Hrudayalaya carried the momentum earlier set by Alkem Lab and Dr Lal Pathlabs. Shares of Narayana Hrudayalaya listed 16% higher at Rs. 291 on BSE and NSE today over its issue price of Rs. 250 per share (upper range of price band). The scrip closed at Rs. 340.80 on NSE, reflecting a rise of 36.31% over its issue price. While on BSE, the stock ended the session at Rs. 336.70, an increase of 34.68% over its issue price.

India’s coal imports fell for the 6th straight month to 12.35 MT against 18.81 MT in the corresponding period of 2015, tweeted Anil Swarup, Coal Secretary.

The Cabinet has given its approval for offering attractive VRS / VSS packages at 2007 pay scales to mitigate the hardships being faced by the employees of HMT Watches Ltd., HMT Chinar Watches Ltd. and HMT Bearings Ltd. and close their operations.

The Union Cabinet also gave its post-facto approval to the Memoranda of Understanding (MOUs) between the Ministry of Corporate Affairs,

Competition Commission of India (CCI) and Indian Institute of Corporate Affairs (IICA) with Foreign Countries/Organizations.