What not to miss today

Here are the important news to watch out for today.

Feb 11, 2019 07:02 IST India Infoline News Service

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-Markets to open marginally down tracking SGX Nifty. Nifty saw a very strong last hour sell-off on Friday, as local mutual funds turned sellers, as Nifty traded below 11000. Even though foreign investors have turned big buyers this February, local sentiment continues to be fragile as the broader market remains under pressure. With pressure on select NBFCs & ADAG group shares, mutual funds are using all rallies to sell, which is seeing select large-cap stocks hold the market. 

-Nifty finds support around 10873, while 11000 will now act as resistance. Bank Nifty finds support around 27150, while 27450 will act as resistance.

-FIIs purchased 843cr (cash), sold 224cr in Index Futures. In the Stock futures segment, FIIs sold 798 crores worth of stock futures and sold 40 crores stock options. 

-Asian markets trade mixed as they await resumption of US-China trade talks. Asian indices opened on a flat note as global cues were rather subdued after profit taking in the US saw stocks recover from large losses to close down 70 points on the Dow Jones. The Chinese markets reopen after a week of holidays and could see some near term buying as the government has boosted more money supply into the system to encourage spending.

-Lupin gets 2 USFDA observations for its Goa plant. The inspection was carried out between January 28 to February 8, 2019. Read more.

-The government launched the third bidding round under its open acreage licensing policy (OALP), at the 13th edition of Petrotech 2019, a strategic hydrocarbon event held in New Delhi.

-IndiGo likely to cancel 32 flights across India owing to shortage of pilots. In a statement, IndiGo said that due to a severe hailstorm in North India on February 7, 11 IndiGo flights were diverted and that disrupted operations across our network the following day. "As part of recovering our schedule, the positioning of the crew and aircraft had to be readjusted. As a result, a number of flights were canceled. We regret the inconvenience caused to our customers," IndiGo said.

-Dr. Reddy’s received a Form 483 with 11 observations from the USFDA for Hyderabad plant after completion of the audit of formulations Manufacturing Plant - 3 at Bachupally, Hyderabad.

-SBI cuts interest rate on home loan by 5bps. As per media report, rates have been cut on home loans up to Rs 30 lakh 

-Bharti Airtel unit to merge with Telkom Kenya. Both companies will merge their mobile, enterprise and carrier services. The company says that finalisation and closure of the transaction is subject to approval by the relevant authorities. Read more.

-Result review: NHPC (PAT down 73.5% yoy, misses estimates), Thermax (PAT up 165% yoy, in-line with estimates), Dilip Buildcon (PAT 26.4% yoy, beats estimates).

-Results today: Eicher Motors (PAT up 11% yoy).

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