Daily Nifty View Spot Closed 6171.45, Sustaining Above 6224-6234 We May C 6254-6274 On Upside And Below 6124--6112 Sustaining Nifty We May C 6090-6066.
Q3 results, inflation data to dictate trend
Q3 December 2013 results from some prominent companies, data on inflation based on the combined consumer price index (CPI) for urban and rural India and data on inflation based on the wholesale price index (WPI), both, for December 2013 will dictate near term trend on the domestic bourses. Trend in investment by foreign institutional investors, trend in other global emerging markets and the movement of rupee against the dollar hold key.
As per the results calendar, Tata Consultancy Services, AXIS Bank and Bajaj Auto unveil Q3 results on Thursday, 16 January 2014. HCL Technologies unveils its Q2 result on Thursday, 16 January 2014. HDFC Bank, Reliance Industries (RIL), ITC and Wipro announce Q3 results on Friday, 17 January 2014.
The board of directors of Coal India will meet on Tuesday, 14 January, 2014, to consider payment of interim dividend, if any, for the year ending 31 March 2014.
Industrial production is seen registering a muted growth of 0.9% in November 2013, as per the median estimate of a poll of economists carried out by Capital Market. Industrial production had declined 1.8% in October 2013, against 2% growth in September 2013. The decline in the output of manufacturing sector at 2% and mining sector at 3.5% mainly led to decline in industrial production in October 2013. The government will unveil industrial production data for November 2013 after trading hours on Friday, 10 January 2014.
Inflation based on the combined consumer price index (CPI) of urban and rural India is projected to ease at 10.1% in December 2013, from a record high of 11.24% in November 2013, as per the median estimate of a poll of economists carried out by Capital Market. The government will unveil CPI data for December 2013 after trading hours on Monday, 13 January 2014.
Inflation based on the wholesale price index (WPI) is seen easing up a bit at 7.1% in December 2013, from 7.52% in November 2013, as per the median estimate of a poll of economists carried out by Capital Market. WPI had accelerated to 7.52% in November 2013, from 7% in October 2013. The government will unveil WPI data for December 2013 at 12 noon on Wednesday, 15 January 2014.
The Reserve Bank of India's Third Quarter Review of Monetary Policy for 2013-14 is scheduled on 28 January 2014.
Asian stocks will on Monday, 13 January 2014, react to the influential US non-farm payroll report for December 2013 scheduled for release on Friday, 10 January 2014. Recent flow of data from US had been encouraging, infusing further confidence in the US economy. However, it strengthens the case for further tapering of the Federal Reserve's bond-buying program. Fed's bond-buying program has been a source of liquidity for most Asian and emerging markets over the past few years.
The reduced availability of cash in the global financial system could temper the flow of foreign money into India, which has been one of the biggest beneficiaries of foreign capital. In his foreword of the central bank's Financial Stability Report (FSR) - December 2013 released on 30 December 2013, Reserve Bank of India Governor Raghuram Rajan said that the commencement of tapering by the US Federal Reserve will mean a repricing of certain assets with consequent volatility in the global financial markets and that a potential additional source of uncertainty for India is the coming general election. A stable new government would be positive for the economy. With confidence in the financial system still fragile, six years into the crisis, policy certainty is something investors look for in the current environment, Rajan said.
The Federal Open Market Committee (FOMC) holds a two-day monetary policy meeting on 28 and 29 January 2014. By a 9-to-1 vote, the Fed on 18 December 2013 decided to trim its asset-purchase program by $10 billion to $75 billion per month starting in January 2014. The US central bank is poised to continue winding down its stimulus measures gradually this year.
As per the results calendar, Tata Consultancy Services, AXIS Bank and Bajaj Auto unveil Q3 results on Thursday, 16 January 2014. HCL Technologies unveils its Q2 result on Thursday, 16 January 2014. HDFC Bank, Reliance Industries (RIL), ITC and Wipro announce Q3 results on Friday, 17 January 2014.
The board of directors of Coal India will meet on Tuesday, 14 January, 2014, to consider payment of interim dividend, if any, for the year ending 31 March 2014.
Industrial production is seen registering a muted growth of 0.9% in November 2013, as per the median estimate of a poll of economists carried out by Capital Market. Industrial production had declined 1.8% in October 2013, against 2% growth in September 2013. The decline in the output of manufacturing sector at 2% and mining sector at 3.5% mainly led to decline in industrial production in October 2013. The government will unveil industrial production data for November 2013 after trading hours on Friday, 10 January 2014.
Inflation based on the combined consumer price index (CPI) of urban and rural India is projected to ease at 10.1% in December 2013, from a record high of 11.24% in November 2013, as per the median estimate of a poll of economists carried out by Capital Market. The government will unveil CPI data for December 2013 after trading hours on Monday, 13 January 2014.
Inflation based on the wholesale price index (WPI) is seen easing up a bit at 7.1% in December 2013, from 7.52% in November 2013, as per the median estimate of a poll of economists carried out by Capital Market. WPI had accelerated to 7.52% in November 2013, from 7% in October 2013. The government will unveil WPI data for December 2013 at 12 noon on Wednesday, 15 January 2014.
The Reserve Bank of India's Third Quarter Review of Monetary Policy for 2013-14 is scheduled on 28 January 2014.
Asian stocks will on Monday, 13 January 2014, react to the influential US non-farm payroll report for December 2013 scheduled for release on Friday, 10 January 2014. Recent flow of data from US had been encouraging, infusing further confidence in the US economy. However, it strengthens the case for further tapering of the Federal Reserve's bond-buying program. Fed's bond-buying program has been a source of liquidity for most Asian and emerging markets over the past few years.
The reduced availability of cash in the global financial system could temper the flow of foreign money into India, which has been one of the biggest beneficiaries of foreign capital. In his foreword of the central bank's Financial Stability Report (FSR) - December 2013 released on 30 December 2013, Reserve Bank of India Governor Raghuram Rajan said that the commencement of tapering by the US Federal Reserve will mean a repricing of certain assets with consequent volatility in the global financial markets and that a potential additional source of uncertainty for India is the coming general election. A stable new government would be positive for the economy. With confidence in the financial system still fragile, six years into the crisis, policy certainty is something investors look for in the current environment, Rajan said.
The Federal Open Market Committee (FOMC) holds a two-day monetary policy meeting on 28 and 29 January 2014. By a 9-to-1 vote, the Fed on 18 December 2013 decided to trim its asset-purchase program by $10 billion to $75 billion per month starting in January 2014. The US central bank is poised to continue winding down its stimulus measures gradually this year.
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