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Friday, October 18, 2013
Market seen opening higher; L&T Q2 eyed
Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 27 points at the opening bell. Engineering and construction giant L&T unveils its Q2 results today, 18 October 2013. Asian markets were mostly higher on Friday, 18 October 2013.
Marico after market hours on Thursday, 17 October 2013, said that the Scheme of Arrangement entailing demerger of the Kaya skin clinics business sanctioned by the High Court of Judicature at Bombay has been filed with the Registrar of Companies on 17 October 2013. Accordingly, 17 October 2013 will be considered as the effective date of the Scheme of Arrangement.
Key benchmark indices dropped for the second day in a row on Thursday, 17 October 2013, in what was a choppy trading session. Investor sentiment was hit adversely as European stocks declined and as trading in US index futures pointed to a lower opening of US stocks later in the global day. The S&P BSE Sensex shed 132.11 points or 0.64% to settle at 20,415.51, its lowest level closing since 10 October 2013.
Foreign institutional investors (FIIs) bought shares worth a net Rs 1,109.93 crore on Thursday, 17 October 2013, as per provisional data from the stock exchanges.
Asian markets were mostly higher on Friday, 18 October 2013. Key benchmark indices in Singapore, South Korea, Hong Kong and Taiwan rose by 0.12% to 0.58%. Key benchmark indices in China, Indonesia and Japan fell 0.09% to 0.26%.
The Chinese economy grew at an annual rate of 7.8% in the third quarter, accelerating from the second quarter's 7.5% increase, while data for September showed industrial production and retail sales easing off their levels from the previous month.
September industrial output slowed to 10.2% growth from a year earlier, after having risen by 10.4% in August. September retail sales also eased to a 13.3% annual growth rate, after a 13.4% increase in the previous month.
US stocks ended mostly higher on Thursday, lifting the S&P 500 to a record finish, as Wall Street turned from the latest fiscal drama on Capitol Hill to corporate earnings that included better-than-expected results from Verizon Communications Inc.
The Philadelphia Federal Reserve's manufacturing index fell to 19.8 in October from 22.3 in September, with the gauge positive for a fifth consecutive month.
US jobless claims fell by 15,000 to 358,000 last week from a revised 373,000 the week before, according to a Labor Department report, with the number skewed by the just-ended government shutdown and computer issues that created a backlog in California.
The Federal Open Market Committee (FOMC) holds a two-day policy meeting on 29-30 October 2013. On 18 September 2013, the Fed surprised economists and investors with its decision to delay scaling back its stimulus amid concerns about the strength of the economic recovery.
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