Investors will hope the Tuesday twist comes into play and indices recoup their losses towards the end of the session. Global markets will have to lend support. Investors will be looking forward to comments from the Federal Reserve Chairperson Janet Yellen today and on Thursday, when she testifies before the Congress about the economy and monetary policy.
The markets sure are hurting investors for now as global indices seem to be finding new worries for panic at regular intervals. Many Asian markets are closed but the ones open are bearing the brunt. Nikkei has crashed following worries about banking and energy companies in Japan. The rising yen is also hurting the country’s export potential. US markets managed to recover from session lows but ended in the red.
The outlook is a negative open. Investors will hope the Tuesday twist comes into play and indices recoup their losses towards the end of the session. Global markets will have to lend support. Investors will be looking forward to comments from the Federal Reserve Chairperson Janet Yellen today and on Thursday, when she testifies before the Congress about the economy and monetary policy. Key results include Apollo Tyres, Aurobindo Pharma, Bharat Forge, Britannia, CESC, Dr Reddy’s Lab, Geometric, GMDC, Gulf Oil, Hindalco Industries, MOIL, Motherson Sumi, SAIL, Ramco Cement and Timken India.
Meanwhile, India’s economy is expected to grow at 7.3% in FY16 as per the advance estimate released by the CSO. Based on expenditure side GDP calculations however, growth is expected to accelerate 40bps to 7.6% in FY16. Nominal GDP growth on GVA basis is expected to be a modest 7% and lower than real GDP growth.
The Dow Jones Industrial Average pared an earlier 400-point drop to settle with a loss of 177.92 points, or 1.1%, at 16,027.05. The S&P 500 index closed 26.61 points, or 1.4%, lower at 1,853.44 - its lowest closing level since April 2014. The Nasdaq Composite index sank 79.39 points, or 1.8%, to end at 4,283.75 - its lowest closing level since October 2014.
The restriction on import of steel products below a prescribed price will give steel companies the scope to increase hot rolled coil (HRC) and cold rolled coil prices by around USD50/t, prices for products under safeguard duty may rise by USD60/t and for some steel products the impact may be much more, says India Ratings and Research (Ind-Ra).
TRAI has issued the 'Prohibition of Discriminatory Tariffs for Data Services Regulations, 2016' that disallow service providers to offer or charge discriminatory tariffs for data services on the basis of content being accessed by a consumer.
Cognizant Revenue for the fourth quarter of 2015 rose to $3.23 bn, up 17.9% from $2.74 billion in the fourth quarter of 2014. GAAP net income was $423.4 million, or $0.69 per diluted share, compared to $362.9 mn, or $0.59 per diluted share, in the fourth quarter of 2014.
Rural Electrification Corporation (REC) and Power Finance Corp (PFC) may buy Government's shares in state-owned NHPC, according to reports.
Realty firm Godrej Properties' sale bookings are likely to double at record Rs. 5,500 crore in the current fiscal, says report.
Shares of Digital marketing firm Lycos Internet zoomed 7.1% to Rs.29.30 on BSE on news that it will acquire 100% stake in Austria-based mobile solutions provider TriTelA Gmbh in an all-stock transaction giving it access to cloud-based technology that can help broaden its consumer services.
The Government has asked public sector companies to buy back shares in order to contain the fiscal deficit without cutting stimulus spending, according to reports.
Reliance Infrastructure Ltd has announced that the Board of Directors at its meeting held on February 08, 2016 has approved a Scheme of Amalgamation of Reliance Concrete Private Limited, a step down wholly owned subsidiary of Reliance Infrastructure Limited (Rlnfra) with RInfra, subject to requisite approvals.
The outlook is a negative open. Investors will hope the Tuesday twist comes into play and indices recoup their losses towards the end of the session. Global markets will have to lend support. Investors will be looking forward to comments from the Federal Reserve Chairperson Janet Yellen today and on Thursday, when she testifies before the Congress about the economy and monetary policy. Key results include Apollo Tyres, Aurobindo Pharma, Bharat Forge, Britannia, CESC, Dr Reddy’s Lab, Geometric, GMDC, Gulf Oil, Hindalco Industries, MOIL, Motherson Sumi, SAIL, Ramco Cement and Timken India.
Meanwhile, India’s economy is expected to grow at 7.3% in FY16 as per the advance estimate released by the CSO. Based on expenditure side GDP calculations however, growth is expected to accelerate 40bps to 7.6% in FY16. Nominal GDP growth on GVA basis is expected to be a modest 7% and lower than real GDP growth.
The Dow Jones Industrial Average pared an earlier 400-point drop to settle with a loss of 177.92 points, or 1.1%, at 16,027.05. The S&P 500 index closed 26.61 points, or 1.4%, lower at 1,853.44 - its lowest closing level since April 2014. The Nasdaq Composite index sank 79.39 points, or 1.8%, to end at 4,283.75 - its lowest closing level since October 2014.
The restriction on import of steel products below a prescribed price will give steel companies the scope to increase hot rolled coil (HRC) and cold rolled coil prices by around USD50/t, prices for products under safeguard duty may rise by USD60/t and for some steel products the impact may be much more, says India Ratings and Research (Ind-Ra).
TRAI has issued the 'Prohibition of Discriminatory Tariffs for Data Services Regulations, 2016' that disallow service providers to offer or charge discriminatory tariffs for data services on the basis of content being accessed by a consumer.
Cognizant Revenue for the fourth quarter of 2015 rose to $3.23 bn, up 17.9% from $2.74 billion in the fourth quarter of 2014. GAAP net income was $423.4 million, or $0.69 per diluted share, compared to $362.9 mn, or $0.59 per diluted share, in the fourth quarter of 2014.
Rural Electrification Corporation (REC) and Power Finance Corp (PFC) may buy Government's shares in state-owned NHPC, according to reports.
Realty firm Godrej Properties' sale bookings are likely to double at record Rs. 5,500 crore in the current fiscal, says report.
Shares of Digital marketing firm Lycos Internet zoomed 7.1% to Rs.29.30 on BSE on news that it will acquire 100% stake in Austria-based mobile solutions provider TriTelA Gmbh in an all-stock transaction giving it access to cloud-based technology that can help broaden its consumer services.
The Government has asked public sector companies to buy back shares in order to contain the fiscal deficit without cutting stimulus spending, according to reports.
Reliance Infrastructure Ltd has announced that the Board of Directors at its meeting held on February 08, 2016 has approved a Scheme of Amalgamation of Reliance Concrete Private Limited, a step down wholly owned subsidiary of Reliance Infrastructure Limited (Rlnfra) with RInfra, subject to requisite approvals.
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