MAGIC NIFTY FUTURE IS 6066.
The next batch of Q3 December 2013 results, trend in investment by foreign institutional investors, trend in global markets, trend in other global emerging markets and the movement of rupee against the dollar will dictate the near term movement on the domestic bourses.
After a monetary policy review, the Federal Open Market Committee (FOMC) on 29 January 2014 announced it will reduce monthly bond purchases by another $10 billion to $65 billion. The Fed also signaled that it is likely to keep reducing bond purchases in the coming months, citing a pickup in US economic activity and improvement in the US labor market. Fed's bond-buying program has been a source of liquidity for most Asian and emerging markets in recent years.
As per the results calendar, Bharat Heavy Electricals and Power Grid Corporation of India will announce Q3 results on Wednesday, 5 February 2014. Ranbaxy Laboratories will announce its Q4 December 2013 results on the same day. ACC and Ambuja Cements will announce Q4 December 2013 results on Thursday, 6 February 2014. Bank of Baroda will announce its Q3 results on the same day. Tata Power Company announces its Q3 results on Friday, 7 February 2014.
Markit Economics will unveil the result of a monthly survey on the performance of India's services sector for January 2014 on Wednesday, 5 February 2014. The HSBC Services Business Activity Index, compiled by Markit, fell to 46.7 in December, from 47.2 in November.
On the global markets front.
NEWS FOR THE DAY :
Key benchmark indices edged lower on the first trading session of the week and the month after the government revised downwards the GDP growth rate for the year ended 31 March 2013 (FY 2013) to 4.5% from 5% reported earlier. The market sentiment was affected adversely by data showing that foreign funds were net sellers of Indian stocks on Friday, 31 January 2014. The barometer index, S&P BSE Sensex, hit its lowest closing level in more than 11-1/2 weeks. The 50-unit CNX Nifty finished at its lowest level in more than 10 weeks. The market breadth, indicating the overall health of the market, was negative. The Sensex lost 304.59 points or 1.48%, off 271.09 points from the day's high and up 17.49 points from the day's low. Except BSE Healthcare index all the other sectoral indices on BSE dropped. Weakness in Asian and European stocks also dampened sentiment on the domestic bourses.
Stock Specific news:
- Bosch to invest Rs 1,200 cr in India in 2014
- Lupin Q3 net up 42% at 476 crore, beats estimates
- IDFC plans to raise $ 300 mn via overseas loans
- Graphite India Q3 net up 22% at Rs 42 cr
- Lupin buys Nanomi B.V. of Netherlands
- Ashok Leyland Jan sales drop by 26%
- Coal India output in Jan at 47 mn tonne; misses target
- Essar infuses $150 mn into bankrupt US subsidiary
- Bajaj Auto motorcycle sales dip 7% in Jan
- Lead down by 0.4% on subdued spot demand
TURNOVERS :
BSE STATS :
The total turnover on BSE amounted to Rs 1629 crore, lower than Rs 2685.58 crore on Friday, 31 January 2014. The market breadth, indicating the overall health of the market was negative. On BSE, 1,433 dropped and 1,097 shares rose. A total of 145 shares were unchanged. Among the 30-share Sensex pack, 25 stocks declined and rest of them rose.
NSE STATS :
The total turnover on BSE amounted to Rs 1629 crore, lower than Rs 2685.58 crore on Friday, 31 January 2014. The market breadth, indicating the overall health of the market was negative. On BSE, 1,433 dropped and 1,097 shares rose. A total of 145 shares were unchanged. Among the 30-share Sensex pack, 25 stocks declined and rest of them rose.
NSE STATS :
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