Indian Indices:
The Indian equity benchmark indices are likely to open higher today, tracking the firm Nifty firm trend in the SGX Nifty Index Futures for February delivery, which was trading at 10,487, up by 24 points or 0.23at 11:26 AM Singapore time, also signaled a positive opening for the domestic equity bourses. Market participants are expected to react to recent data showing foreign investors have pulled out USD 1 billion or Rs 6,850 crore so far this month from the Indian stock market due to sell-offs globally. The equity market is expected to remain volatile ahead of February F&O expiry on this Thursday. The banking stocks will remain in focus as the PNB mess will take a toll on other banks also futures on the Singapore Stock Exchange and positive trend across the global markets.
On the Stock front
• Shares of Reliance Industries Limited will remain in focus as the company has said that its arm Reliance Industrial Investments and Holdings Limited will acquire equity shares of The Indian Film Combine Private Limited ("IFC"), a company incorporated in 1942.
• Shares of Reliance Communications is expected to remain on investors’ radar as the shareholders of Anil Ambani-led company have approved the sale of its wireless assets to pare debt.
On the Corporate front
• Infosys, India's second largest software services firm, has said that it has divested its investment in OnMobile Systems Inc for USD 2.49 million. "...it (Infosys) has on February 15, 2018 signed an agreement for divestment of its entire investment from OnMobile Systems Inc.
• ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), will bid for development rights of Iran's giant South Azadegan Oilfield in direct competition with the likes of global giants like Shell, France's Total, Petronas of Malaysia and Russia's Gazprom
PREVIOUS DAY ROUNDUP (DOMESTIC)
• The Indian equities ended lower in volatile trade on Friday, undermining firm cues from Asian peers, led by sharp sell¬off in final hour of day’s trade with PSU bank index falling over 2 percent.
Global Market:
• Major Asian markets are shut today. Nikkei is currently up 1.31%.
• US Markets: Wall Street ended Friday's session on a mixed note while the Dow and S&P 500 closed higher for the 6th consecutive session the Nasdaq ended the day marginally lower.
• European markets closed in the green on Friday with FTSE up 0.82%, CAX was up 1.12% and DAX closed 0.85% higher.
Major Headlines of the day:
• The Indian Government has said that it may soon unveil a Rs 15,000 crore plan to ensure the farmers get the minimum support
price (MSP) for their crops even when market prices fall below the benchmark rate.
• PNB-Clarifies to exchanges on the news: Government asks fraud hit PNB to conduct forensic audits, "Bank hasn't received any instruction from government authority and hence can't comment".
• Religare Enterprises-To raise funds upto Rs 1,200 crore through issue of shares/convertible securities/debt-Appointment of 3 board of directors.
Trend in FII flows: The FIIs were Net Value of Rs -1065.99 the cash segment Friday while the DIIs were Net Value of Rs 1127.78 as per the provisional figures.
Securities in Ban For Trade Date 19-FEB-2018:
1.BALRAMCHIN
2.DISHTV
3.FORTIS
4.GMRINFRA
5.HDIL
6.JISLJALEQS
7.JPASSOCIAT
8.ORIENTBANK
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