The ReserveBank of India's bi-monthly monetary policy review meeting would be the key factor driving the markets today. While investors expect the central bank to hold the repo rate and, possibly, retain the stance as 'accommodative', they would eye the bank's commentary on the growth outlook and inflation going-forward. That apart, December quarter earnings, update on coronavirus outbreak, crude oil prices, stock-specific movements, and foreign fund flow would steer indices.
EARNINGS TODAY
Bata India, Eicher Motors, Hero MotoCorp, and Sun Pharma are among the 135 companies slated to report their Q3FY20 earnings today.
GLOBAL MARKETS
Asian stocks edged up on Thursday following encouraging US economic data, even as investors kept a wary eye on the impact of the coronavirus outbreak. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.39 per cent, while Japan's Nikkei rose 1.63 per cent.
In the US, President Donald Trump was acquitted on Wednesday in his Senate impeachment trial, saved by fellow Republicans, nine months before he asks voters in a deeply divided America to give him a second White House term. On Wall Street, the S&P 500 gained 1.13 per cent to a record close of 3,334.69, while the Nasdaq Composite added 0.43 per cent to 9,508.68, also a record high.
(With inputs from Reuters)
CATCH ALL THE LIVE UPDATES
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08:38 AM
D-Street's bullet train: IRCTC climbs league table to be most-valued PSU
Currently, it is valued more than other marquee PSUs, such as The New India Assurance Company, Bharat Electronics, Oil India, and Bharat Heavy Electricals.
In the past fortnight, IRCTC has seen its m-cap swell by over Rs 10,000 crore — more than the combined market value of the bottom 20 listed PSUs. READ MORE
08:26 AM
Market Outlook :: Deepak Jasani, Head - retail research, HDFC Securities
Outlook: Indian markets could open flat to negative despite in the US markets on Wednesday and largely positive Asian markets today that are following US cues.
>> The pullback rally continued at Dalal Street on Wednesday, after the sharp fall seen last Saturday, which was triggered due to lack of sufficient stimulus measures in the Union Budget. The gains came on the back of positive global cues and after a shaky start in the morning session. Sentiments were also boosted after India's Services PMI in January rose at quickest rates in seven years. The Nifty gained 109.5 points or 0.91% to close at 12,089.15
Technical cues: Nifty has pulled back sharply, the underlying short term trend still remains down. The Nifty would need to cross the previous intermediate high of 12170 for the downtrend to reverse. Traders may also remain cautious ahead of the Reserve Bank of India (RBI)'s policy outcome tomorrow. Immediate supports to watch for resumption of weakness are now at 11954.
Stocks to watch: Among stocks under coverage, Shree Cements, Bharti Airtel, PVR, Ujjivan, Dmart, AU SFB, Tata Motors, M&M, ICICI Bank, DLF, MCX, Indigo could do well.
08:25 AM
Nifty view and top trading ideas by CapitalVia Global Research: Buy UBL
Market traded higher on Wednesday; Nifty regained 12,000 mark
Market traded higher on Thursday due to strong global cues along with soft crude prices and stable rupee. The Nifty closed at 12,089.20, gaining 109.50 points. Metal, realty and financial services stocks traded with positive sentiments through the day whereas media stocks witnessed some pressure. Nifty bank closed at 31,002, adding 315.30 points from the previous day’s closing. Today, markets will react to the RBI’s policy rate decision. READ MORE
08:23 AM
Two stocks that Vaishali Parekh of Prabhudas Lilladher is bullish on
BUY HINDALCO
CMP: Rs 196.30
TARGET: Rs 220-225
STOP LOSS: Rs 180
The stock has made almost a double bottom formation near 180 levels forming a strong support base and has given a decent bounce to imply strength and has potential to rise further in the coming days. READ MORE
08:21 AM
Bulk deals on NSE as on Wednesday
Click here for complete list
08:19 AM
Bulk deals on BSE as on Wednesday
Click here for complete list
08:16 AM
FII/FPI & DII trading activity on NSE, BSE and MSEI
08:15 AM
Rupee Check
Source: Bloomberg
08:11 AM
Oil Check
>> Oil futures rose for a second day on Thursday as investors took optimism around unconfirmed reports of possible medical advances to combat the coronavirus outbreak in China as a sign fuel demand could rebound in the world’s biggest oil importer.
>> Prices also gained after a government report on Wednesday showed U.S. gasoline and diesel inventories fell.
>> At 8:10 am, Brent Crude Futures were at $55.95 per barrel-mark, up over 1 per cent.
08:09 AM
SGX Nifty
>> At 8:08 am, the Singaporean Exchange for Nifty Futures was down 19 points,or 0.16 per cent, at 12,081.
EARNINGS TODAY
Bata India, Eicher Motors, Hero MotoCorp, and Sun Pharma are among the 135 companies slated to report their Q3FY20 earnings today.
GLOBAL MARKETS
Asian stocks edged up on Thursday following encouraging US economic data, even as investors kept a wary eye on the impact of the coronavirus outbreak. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.39 per cent, while Japan's Nikkei rose 1.63 per cent.
In the US, President Donald Trump was acquitted on Wednesday in his Senate impeachment trial, saved by fellow Republicans, nine months before he asks voters in a deeply divided America to give him a second White House term. On Wall Street, the S&P 500 gained 1.13 per cent to a record close of 3,334.69, while the Nasdaq Composite added 0.43 per cent to 9,508.68, also a record high.
(With inputs from Reuters)
CATCH ALL THE LIVE UPDATES
Auto Refresh
08:38 AM
D-Street's bullet train: IRCTC climbs league table to be most-valued PSU
Currently, it is valued more than other marquee PSUs, such as The New India Assurance Company, Bharat Electronics, Oil India, and Bharat Heavy Electricals.
In the past fortnight, IRCTC has seen its m-cap swell by over Rs 10,000 crore — more than the combined market value of the bottom 20 listed PSUs. READ MORE
08:26 AM
Market Outlook :: Deepak Jasani, Head - retail research, HDFC Securities
Outlook: Indian markets could open flat to negative despite in the US markets on Wednesday and largely positive Asian markets today that are following US cues.
>> The pullback rally continued at Dalal Street on Wednesday, after the sharp fall seen last Saturday, which was triggered due to lack of sufficient stimulus measures in the Union Budget. The gains came on the back of positive global cues and after a shaky start in the morning session. Sentiments were also boosted after India's Services PMI in January rose at quickest rates in seven years. The Nifty gained 109.5 points or 0.91% to close at 12,089.15
Technical cues: Nifty has pulled back sharply, the underlying short term trend still remains down. The Nifty would need to cross the previous intermediate high of 12170 for the downtrend to reverse. Traders may also remain cautious ahead of the Reserve Bank of India (RBI)'s policy outcome tomorrow. Immediate supports to watch for resumption of weakness are now at 11954.
Stocks to watch: Among stocks under coverage, Shree Cements, Bharti Airtel, PVR, Ujjivan, Dmart, AU SFB, Tata Motors, M&M, ICICI Bank, DLF, MCX, Indigo could do well.
08:25 AM
Nifty view and top trading ideas by CapitalVia Global Research: Buy UBL
Market traded higher on Wednesday; Nifty regained 12,000 mark
Market traded higher on Thursday due to strong global cues along with soft crude prices and stable rupee. The Nifty closed at 12,089.20, gaining 109.50 points. Metal, realty and financial services stocks traded with positive sentiments through the day whereas media stocks witnessed some pressure. Nifty bank closed at 31,002, adding 315.30 points from the previous day’s closing. Today, markets will react to the RBI’s policy rate decision. READ MORE
08:23 AM
Two stocks that Vaishali Parekh of Prabhudas Lilladher is bullish on
BUY HINDALCO
CMP: Rs 196.30
TARGET: Rs 220-225
STOP LOSS: Rs 180
The stock has made almost a double bottom formation near 180 levels forming a strong support base and has given a decent bounce to imply strength and has potential to rise further in the coming days. READ MORE
08:21 AM
Bulk deals on NSE as on Wednesday
Click here for complete list
08:19 AM
Bulk deals on BSE as on Wednesday
Click here for complete list
08:16 AM
FII/FPI & DII trading activity on NSE, BSE and MSEI
08:15 AM
Rupee Check
Source: Bloomberg
08:11 AM
Oil Check
>> Oil futures rose for a second day on Thursday as investors took optimism around unconfirmed reports of possible medical advances to combat the coronavirus outbreak in China as a sign fuel demand could rebound in the world’s biggest oil importer.
>> Prices also gained after a government report on Wednesday showed U.S. gasoline and diesel inventories fell.
>> At 8:10 am, Brent Crude Futures were at $55.95 per barrel-mark, up over 1 per cent.
08:09 AM
SGX Nifty
>> At 8:08 am, the Singaporean Exchange for Nifty Futures was down 19 points,or 0.16 per cent, at 12,081.
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