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An upswing in the global markets is likely to impact the investors back home today who will also track corporate results, macro data and stock-specific action for further cues. All eyes will be on Infosys today which is scheduled to announce its December quarter numbers later in the day. The IT service provider is expected to post revenue growth of 0.9 per cent to 2.1 per cent on a sequential basis for the quarter ended December 31. This could mainly be on account of the company’s cross-currency gains and business transfer of Eishtec in Ireland. On the macroeconomic front, the industrial production data for November will be announced today. In stock-specific action, Bharti Airtel's fundraising exercise was subscribed by more than three times, garnering pledges of over $10 billion. YES Bank will also be in focus ahead of today's board meet to consider and approve the right issue of equity shares, issue of warrants and the preferential issue of shares. Read Complete ...

The news overnight on the US-Iran front is set to push the domestic indices higher today as oil prices recede to their cheapest level since mid-December. The United States and Iran backed away from the brink of further conflict in the Middle east as US President Donald Trump said Iran’s missile strikes had not harmed any Americans and that Tehran appeared to be "standing down". On its part, Iran has offered no immediate signal it would retaliate further to the January 3 strike. Oil reversed its gains and now sits cheaper than it was before the killing of the Iranian commander, Qassem Soleimani. Brent futures nursed overnight losses of 4 per cent to trade at $65.44 per barrel. Besides this, investors will now shift their focus to the December quarter results and pre-Budget newsflow. Stock-specific development, the Rupee's trajectory, and foreign fund flows will also affect sentiment. Shares of Bharti Airtel will be in focus today as the wireless telephony majo...

Podcast News : A huge sell-off in the equity markets yesterday and a recovery in global markets overnight may prompt a rebound in domestic indices today. However, short-term risk from any new aggression on the US-Iran front remains intact. A reports by Reuters that the government is likely to cut spending for the current fiscal year to curb deficit as it faces one of the biggest tax shortfalls in recent years is also expected to weigh on investor sentiment. Apart from this, market participants will continue to follow the trajectory of the Rupee which plunged 13 paise on Monday to settle at 71.93 against the US currency. They will also be on the lookout for on any news flow regarding the upcoming Budget. Besides, investors will track stock-specific action, foreign fund flows, and global developments throughout the day for further cues. Among individual stocks, TCS will remain in focus as the IT bellwether is set to postpone the announcement of its Q3 results from the earlier ...

Podcast News : Geopolitical developments in the Middle East, crude oil prices, and December quarter results will be the major driving factors for the Indian equity indices this week. Global markets were thrown into fresh turmoil on Friday after top Iranian commander Qasem Soleimani was killed in a US drone strike in Iraq. The risk of possible retaliation from Iran is expected to keep the crude prices and the Rupee's level volatile which will have a direct bearing on the equity markets. The earnings season kicks off this week with Infosys announcing its December quarter numbers on Friday and Avenue Supermarts on Saturday. On the macroeconomic front, PMI data for the services sector for December will be released today and industrial production data for November will be announced on Friday. Read Complete Article

Podcast News : Surging global indices and some positive data points back home may help perk up investor sentiment in today's session. Market participants, though, will also look at stock-specific developments and any pre-budget news flow for further clues. In stock-specific news, the government is unlikely to complete the strategic sale of Bharat Petroleum Corporation (BPCL), Container Corporation of India (Concor), and Air India by March-end, according to a Business Standard report. The stocks of the first two companies will react to the development. Besides, Oil and Natural Gas Corporation (ONGC) walked away with all the seven oil and gas blocks on offer in the fourth round of Open Acreage Licensing Policy (OALP). In another development, the Reserve Bank will carry out another round of special simultaneous open market operation to buy and sell government bonds of Rs 10,000 crore each on Monday. Read Complete Article

Podcast News : Investors will look at macro data, auto sales numbers, and global factors for cues today. The overall trading volume in the markets is set to pick up as most global markets reopen from holiday closures Stocks of automobile companies will react to sales data for the month of December. Yesterday, Tata Motors reported a 12 per cent decline in total vehicle sales in domestic market to 44,254 units in December. The company had sold 50,440 units in the same month in 2018. The stock will react to the sales numbers today. Besides this, shares of channels and operators will also react to the new Trai order according to which cable operators will have to provide 200 channels for Rs 153. Trai has also reviewed the pricing of channel bouquets compared to a la carte ones. Market participants will also await the release of Markit Manufacturing PMI for December which will be released later in the day. They will further track the oil and Rupee's trajectory, stock-specific...

Podcast News : Investors' concern over fiscal slippage and contraction in core sector is likely to dominate today's session while the progress in the US-China trade deal might offer some relief. Fiscal deficit of the Union government rose to 114.8 per cent of the target in the first eight months of the fiscal year, data released by the Controller General of Accounts showed. The gap between the government’s revenue and spending stood at Rs 8.07 trillion at the end of November — 13 per cent more than the full-year target. Secondly, the output of eight core sectors of the economy fell for a third straight month in November, contracting by 1.5 per cent as key sectors like refinery products and electricity continued to see slow growth or contraction. In today's session, infra stocks will be in focus after Finance Minister Nirmala Sitharaman yesterday announced plan to provide Rs 102 trillion infra-push over the next five years Automobile companies will also react to...

India’s rupee has been Asia’s best-performing currency in the past three months but history suggests it will weaken once the current general election is over. The currency has shown a tendency to flip directions after polls have been completed, according to a study by Edelweiss Securities Pvt, based on the past three election cycles. The currency has tended to reverse course when it has rallied ahead of the vote, said Madhavi Arora, an economist at the brokerage in Mumbai. Seasonality is set to be an issue as well. The month of May, when election results are usually announced, has proven to be an unfavorable one for the rupee. It has fallen eight times in that month during the past nine years, dropping an average of 2.2 percent. The exception was 2014, when Modi swept into power with the biggest mandate in more than three decades. History also shows election years tend to see increased inflows from overseas. While foreign buying will depend on a mix of factors, including ...

The Indian rupee hit the 70-per dollar mark for the first time, tumbling to a record low, as a Turkey-led rout in emerging-market currencies intensified losses. The rupee slipped as much as 0.2 per cent to 70.08 per dollar in Mumbai and is down almost 9 per cent this year in Asia’s worst performance. India’s currency has been among the hardest hit in Asia from the recent Turkey-led sell-off in emerging assets, thanks to a wide current-account deficit that’s already strained by higher oil prices. A weaker rupee could complicate the Reserve Bank of India’s job of keeping inflation in check. The RBI’s monetary policy committee led by Governor Urjit Patel has increased interest rates twice since June to curb price pressures, while also using foreign reserves to check currency volatility. The central bank doesn’t target the exchange rate and attributes any rate moves to its goal of containing rising prices. “ Broader emerging-market currency movement, dollar strength, and...

Financial News : Snapping its four-day winning run, the rupee on Tuesday turned weaker by 7 paise to end at 64.43 against the US dollar amid caution ahead of the outcome of the RBI's bi-monthly policy review meet on Wednesday. Fresh dollar purchases by state-run-banks on behalf of corporate clients and a retreat in local equities after record-setting run also weighed on the forex trade. The rupee had gained 30 paise over the last four sessions against the American currency. Meanwhile, geopolitical tensions took on more significance following the shock move by four US Arab allies led by Saudi Arabia to isolate Qatar. Expectations for an interest rate cut by the apex bank in its Wednesday's policy meet to rejuvenate the sagging economy against the backdrop of softening inflations somewhat cushioned the rupee sentiment, a forex dealer said. The domestic unit opened firm at 64.32 from overnight closing level of 64.36 at the Interbank Foreign Exchange (Forex) Ma...