Market may edge higher in early trade on firm Asian stocks

The market may edge higher in early trade on firm Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 18.50 points at the opening bell. Asian stocks rose on Monday after China's new credit increased to a record in January, boosting optimism the world's second-largest economy can maintain its growth momentum.

Finance Minister P Chidambaram will present the Vote-on-Account or interim budget for the first four months of 2014/15 today, 17 February 2014. The objective of a Vote-on-Account is to get Parliament's nod for expenditure to be incurred in the months prior to elections.

The next full-fledged budget will be presented by the new government which comes to power after the Lok Sabha polls in April-May 2014.

Tata Motors announced after market hours on Friday, 14 February 2014 that group global wholesales in January 2014, including Jaguar Land Rover were 80,163 units.Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range -- were 30,121 units. Global wholesales of all passenger vehicles in January 2014 were 50,042 units. Global wholesales of Tata Motors' passenger vehicles in January 2014 were 11,411 units.

Global wholesales for Jaguar Land Rover for the month were 38,631vehicles. Jaguar wholesales for the month were 6,711 vehicles, while Land Rover wholesales for the month were 31,920 vehicles.

DLF's consolidated net profit fell 48.98% to Rs 145.29 crore on 13.04% rise in total income to Rs 2590.20 crore in Q3 December 2013 over Q3 December 2012. The company announced result after market hours on Friday, 14 February 2014.

Steel Authority of India (Sail)'s net profit rose 9.97% to Rs 532.60 crore on 7.14% increase in total income to Rs 11667.52 crore in Q3 December 2013 over Q3 December 2012. The result was announced after market hours on Friday, 14 February 2014.

Sail said that the board of directors of the company at its meeting held on 14 February 2014, inter alia, has approved interim dividend of Rs 2.02 per equity share for the year ending 31 March 2014.

NMDC turns ex-dividend today, 17 February 2014 for the second interim dividend of Rs 5.50 per share for the year ending 31 March 2014.

State Bank of India said on Saturday, 15 February 2014 that it has revised downwards the interest rates on Bulk Term Deposits for Rs 1 crore and above effective from 18 February 2014. It has also decided to revise the interest rates on Retail Term Deposits effective from 18 February 2014.

Punjab National Bank said on Saturday, 15 February 2014 that after regulatory approvals, the bank has decided to sell its entire stake in India Factoring & Financial Solutions (IFFSL) to parent promoter Fll (FIM Bank Malta). The transaction shall be completed during the current quarter ending 31 March 2014.

The Reserve Bank of India next undertakes monetary policy review on 1 April 2014. Sighting elevated consumer price inflation, the Reserve Bank of India raised its key lending rates by 25 basis points after Third Quarter Review of Monetary Policy for 2013-14 on 28 January 2014.

Key benchmark indices surged on the last trading session of the week on Friday, 14 February 2014 as easing of inflation based on the wholesale price index (WPI) to 8-month low of 5.05% in January 2014, strong response to the telecom spectrum auction which will help the government achieve its fiscal deficit target of 4.8% of gross domestic product for the year ending 31 March 2014 and data showing that foreign funds were net buyers of Indian stocks on Thursday, 13 February 2014, helped boost sentiment. The S&P BSE Sensex jumped 173.47 points or 0.86% to settle at 20,366.82 on that day, its highest closing level since 12 February 2014.

Foreign institutional investors (FIIs) sold shares worth a net Rs 15.86 crore on Friday, 14 February 2014, as per provisional data from the stock exchanges.

Asian stocks rose on Monday after China's new credit increased to a record in January, boosting optimism the world's second-largest economy can maintain its growth momentum. Key benchmark indices in China, Hong Kong, South Korea, Indonesia, Taiwan, Japan and Singapore rose by 0.13% to 0.95%.

Japan's economy grew less than forecast in the fourth quarter, according to a report today, underscoring risks to the recovery as a sales-tax increase looms in April. Gross domestic product expanded an annualized 1.0% from the previous quarter, the Cabinet Office said in Tokyo.

US stocks rose on Friday as investors shrugged off a report showing poor industrial output last month as mainly weather-related. The US stock market is closed today for a holiday.

US industrial output unexpectedly fell 0.3 per cent in January but the Federal Reserve said that was partly due to "the severe weather that curtailed production in some regions".

The Federal Open Market Committee (FOMC) next undertakes monetary policy review on 18-19 March 2014. After a monetary policy review, the FOMC on 29 January 2014 announced it will reduce monthly bond purchases by another $10 billion to $65 billion. The Fed also signaled that it is likely to keep reducing bond purchases in the coming months, citing a pickup in US economic activity and improvement in the US labor market.