Sensex, Nifty to open on a positive note

India Infoline News Service | Mumbai | October 19, 2016 08:28 IST

Asian markets to open flat after a superb rally yesterday which saw indices stage a sharp comeback.

The indices are set to open on a positive note. Asian markets to open flat after a superb rally yesterday which saw indices stage a sharp comeback. Strength in the US$ could see collateral selling in Japanese stocks as the "yen hits 103 to the US$. The undertone however seems to be bullish with the Brazilian 'Bovespa" index leading from the front & hitting new 52 week highs. The commodity/energy led index is seeing huge out-performance in the emerging market basket of indices & which yesterday saw China & India also comeback strongly. All eyes were on the Chinese gross domestic product (GDP) report.

Wall Street closed higher on Tuesday. The Dow Jones industrial average rose 75.54 points to 18,161.94, the S&P 500 gained 13.1 points to 2,139.6 and the Nasdaq Composite added 44.01 points to 5,243.84. The S&P 500 posted 4 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 47 new highs and 60 new lows.

PNB Housing Finance, the subsidiary of Punjab National Bank,  announced that its Rs 3,000-crore initial public offering will open for subscription on October 25. The price band is fixed at Rs 750-775 per share.

Endurance Technologies is set to list its equity shares on exchanges on October 19. It has fixed issue price at the higher end of price band of Rs 467-472 per share.

Among other stocks to watch:

Tata Motors: Tata Motors Ltd said that the board has approved NCD issue of up to 5 billion rupees.

Hindustan Zinc: The company will announce its Q2 numbers today.

Havells India: Havells India on Tuesday reported a 22% YoY jump in net profit to Rs 145 crore for the September quarter, as per new accounting standard Ind-AS.

JSW Steel: JSW Group will invest Rs 3,400 crore in the state in next 3 years. Jindal who met West Bengal CM Mamata Banerjee said the investment will go into expanding its upcoming cement plant at Salboni.

Sterling Tools: Sterling Tools has informed BSE that a meeting of the Board of Directors of the Company will consider sub-division of the equity shares of the company on Nov 5.

Sintex Industries: The company has submitted to BSE, acquisition of 7,91,440 equity shares of Sintex Industries on 30the September.

Indian Oil Corporation: CLSA has retained its buy rating on Indian Oil Corporation and raised target price by 20 per cent to Rs 810 from Rs 675.

Tata Power: Tata Power has appointed three independent directors - Anjali Bansal, Vibha Padalkar and Sanjay Bhandarkar - on its board with effect from October 14, 2016.

Hatsun Agro Product Ltd: The company is planning to invest around Rs 850 crore during the current fiscal year and next fiscal year, in order to set up two milk processing facilities, along with the expansion of existing facilities and marketing, said a media report.

RBL Bank: RBL Bank will announce its Q2 numbers today.

Apollo Hospitals Enterprise: Apollo Health and Lifestyle, a subsidiary of Apollo Hospitals Enterprise, is planning to raise Rs4.50bn by selling the equity in the company. The company aims to double the network of clinics to 150 centres in the next three years by utilising these funds.

Suven Life Sciences: Suven Life has been granted one product patent each by Europe and Israel for a drug used in the treatment of neuro-degenerative diseases.

Ceat: The company has introduced a new range of puncture-safe tyres for motorcycles, thereby creating a new segment.

Mangalore Chemicals: The company will announce its Q2 numbers today.

Marksans Pharma: Marksans Pharma announced that USFDA has granted approval for an Abbreviated New Drug Application (ANDA) for Paricalcitol Capsules 1mcg, 2 mcg and 4 mcg.

Results: Hindustan Zinc, KPIT Technologies,Bayer CropScience,Tata Coffee, Mangalore Chemicals & Fertilizers, NIIT, RBL Bank, Quess Corp, Kirloskar Industries, SRG Housing Finance, ABC Bearings, ASM Technologies, Agro Tech Foods, GG Dandekar Machine Works, Gujarat Foils, Gujarat Foils, Mangalam Organics, S R G Securities Finance, Tayo Rolls, TCI Developers, Thirumalai Chemicals, Vinyoflex, Yuken India.

Trends in FII flows:  The FIIs were net buyers of Rs 3.45 bn in the cash segment on Tuesday. The domestic institutional investors (DIIs) were net buyers of Rs 1.73 bn as per the provisional figures released by the NSE.

Global Data: CNY Industrial Production (YoY) (Sep), CNY NBS Press Conference SPEECH, CNY Urban investment (YTD) (YoY) (Sep) ,CNY Gross Domestic Product (YoY) (Q3),CNY Gross Domestic Product (QoQ) (Q3), JPY All Industry Activity Index (MoM) (Aug), GBP Claimant Count Rate (Sep), GBP Claimant Count Change (Sep), GBP ILO Unemployment Rate (3M) (Aug), GBP Average Earnings including Bonus (3Mo/Yr) (Aug),  GBP Average Earnings excluding Bonus (3Mo/Yr) (Aug), GBP 10-y Bond Auction, EUR Construction Output s.a (MoM) (Aug), EUR Construction Output w.d.a (YoY) (Aug), EUR 30-y Bond Auction, EUR Current Account Balance (Aug), USD MBA Mortgage Applications (Oct 21), USD Housing Starts Change (Sep), USD Housing Starts (MoM) (Sep), USD Building Permits (MoM) (Sep), USD Building Permits Change (Sep), USD FOMC Member Williams speech SPEECH, CAD Bank of Canada Monetary Policy Report, CAD BOC Rate Statement REPORT, CAD BoC Interest Rate Decision, USD EIA Crude Oil Stocks change (Oct 14), AUD CB Leading Indicator (Aug), USD Fed's Beige Book REPORT, JPY Foreign bond investment (Oct 14), JPY Foreign investment in Japan stocks (Oct 14).


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