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Indian shares set to open higher to track Asia; Q3 results eyed
  + stars: | 2023-01-09 | by ( ) www.reuters.com   time to read: +2 min
At home, IT major Tata Consultancy Services (TCS.NS) was set to report third quarter results after market close. Analysts expect weak Q3 revenue growth for IT services firms, on the back of deteriorating macroeconomic conditions and furloughs in the quarter. Domestic investors bought 10.83 billion rupees worth of shares, as per provisional NSE data. ** Titan Company (TITN.NS): Co reported 12% YoY growth in combined sales in third quarter, driven by festive season. ** Tata Steel (TISC.NS): Company's India crude steel production stood at 5 million tonnes in third quarter, up 4% YoY.
Indian shares eye muted start to 2023 on weak cues, oil rise
  + stars: | 2023-01-02 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, Jan 2 (Reuters) - Indian shares were set to kick-start 2023 on a muted note due to higher oil prices and a surge in COVID-19 cases in China. Oil prices rose on year-end holiday travel. Higher oil prices hurt oil-importing countries like India, where crude constitutes the bulk of the country's import bill. ** HG Infra Engineering (HGIN.NS): Co declared as L-1 bidder by Delhi Metro Rail Corporation for project worth 4.12 bln rupees. ($1 = 82.7170 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; editing by Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.
MUMBAI, Jan 2 (Reuters) - The Indian rupee is tipped to open little changed against the U.S. dollar on Monday, with traders assessing the outlook for the local currency after a difficult year. The rupee is expected at around 82.70-82.75 per dollar at the open, compared to 82.72 in the previous session. We anticipate an increase in volatility later this month on new positions and flows and before India's budget, the trader said. At the open, the rupee will have to contend with the 3% jump in Brent crude futures on Friday. The dollar index was little changed, at around 103.5, to begin the week.
QUITO, Dec 29 (Reuters) - Ecuador's $290 million debt to a subsidiary of Canada's New Stratus Energy (NSE.V) will be void once contracts for the operation of two oil production blocks expire on Dec. 31, the government and subsidiary said on Thursday. "The state owed the contractor, under unpaid tariffs, $290 million," the energy ministry said in a statement. Ecuador has paid Petrolia some $60 million in fees over the past two years, company manager Ramiro Paez told Reuters, acknowledging the remaining $290 million debt would be wiped when the contracts ended. The company has not yet presented its arbitration case because it must complete a mediation process first, he added. State oil company Petroecuador will on Jan. 1 take over operation of the blocks, which together produce about 14,000 barrels a day.
MUMBAI, Dec 22 (Reuters) - The Indian rupee is likely to open marginally lower against the U.S. currency on Thursday, weighed by persistent dollar demand from importers and rise in oil prices. The rupee is expected to be around 82.85-82.88 at open, compared with 82.81 in the previous session. It looks like it will be another session where help will be needed to prevent the rupee from falling below 83, a trader at a Mumbai-based private bank said. Public sector banks have been regularly selling dollars lately, when rupee falls near to 82.85-82.90 levels. Asian currencies were mostly higher, while the dollar index was down to 103.98 on the back of the positive.
Indian shares set to rise on China recovery hopes
  + stars: | 2022-12-19 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, Dec 19 (Reuters) - Indian shares are set to open higher on Monday on hopes of demand recovery in China, even as concerns of global recession linger. Asian markets rebounded after a mixed start on hopes of demand recovery in China, with the MSCI Asia ex Japan (.MIAPJ0000PUS) rising 0.3%. Reports say that China planned to increase flights to encourage the recovery of its air transport market. Foreign institutional investors sold 19.75 billion rupees ($238.80 million) worth of equities on a net basis on Friday, while domestic investors bought 15.42 billion rupees ($186.44 million) of shares, as per provisional NSE data. ** Dilip Buildcon (DIBL.NS): Co gets order worth 16.47 billion rupees.
BENGALURU, Dec 16 (Reuters) - Indian shares are set to open lower on Friday, on recession fears in the U.S. and hawkish commentary by major central banks, following their U.S. counterpart. Adding to the woes of Indian markets could be the crude prices, which looked poised to end the week higher after projections of a demand revival. Foreign institutional investors sold 7.11 billion rupees ($85.81 million) worth of equities on a net basis on Thursday, while domestic investors bought 2.61 billion rupees of shares, as per provisional NSE data. ** Hindustan Petroleum Corporation (HPCL.NS): Co approves proposal to borrow up to 100 billion rupees in a private placement. ($1 = 82.8600 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.
Indian shares tipped to fall ahead of Nov inflation data
  + stars: | 2022-12-12 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, Dec 12 (Reuters) - Indian shares were set to fall on Monday, as traders braced for local retail inflation data, due later in the day, and a flurry of interest rate decisions by major central banks this week. India consumer price inflation for November likely cooled to a nine-month low of 6.40%, according to a Reuters poll. U.S. consumer inflation data for November, scheduled to be released on Tuesday, would also be keenly watched. read moreForeign institutional investors sold 1.58 billion rupees ($19.16 million) worth of equities on a net basis on Friday, while domestic investors bought 5.02 billion rupees ($60.88 million) worth of shares, as per provisional NSE data. ** PSP Projects (PSPP.NS): Co received a letter of intent for project worth 1.22 billion rupees from Nila Spaces.
MUMBAI, Dec 12 (Reuters) - The Indian rupee was expected to weaken at the open on Monday as the U.S. dollar and Treasury yields ticked higher as U.S. data late last week affirmed the need for higher interest rates. "Equity outflows are a visible headwind (to the rupee), likely given optimism on China," Barclays wrote in a note. The dollar index was back above the 105-level, while the benchmark Treasury yields were at 3.5820%, having jumped 9 basis points on Friday. Data, on that day, showed U.S. monthly producer prices rose 0.3% in November, higher than expected, with October figures revised upwards, suggesting interest rates would remain higher for longer. In India, November CPI data is due after market hours, which likely cooled to a nine-month low of 6.40%, a Reuters poll showed.
BENGALURU, Dec 8 (Reuters) - Indian shares were set to dip for a third straight session on Thursday, as concerns over a possible U.S. recession and the pace of the Federal Reserve's rate hikes dampened sentiment. India's NSE stock futures listed on the Singapore exchange were down 0.07% at 18,658.50 as of 8:05 a.m. IST. U.S. worker productivity data for the third quarter beat forecasts on Wednesday, muddying a debate on the trajectory of Fed's rate hikes. Foreign institutional investors sold a net 12.42 billion rupees ($151.09 million) worth of equities on Wednesday, while domestic investors bought net 3.89 billion rupees ($47.32 million) worth of shares, as per provisional NSE data. read more** Axis Bank : Lender to raise up to 120 billion Indian rupees through sale of Basel III compliant Tier-II bonds.
MUMBAI, Dec 8 (Reuters) - The Indian rupee was expected to open slightly stronger against the U.S. currency on Thursday, amid weaker oil prices and as the dollar dropped overnight on growth concerns in the world's top economy. The partially convertible rupee was seen around 82.30-82.35 per dollar in the opening trades, compared to its previous close of 82.47. Monitoring debt and equity inflows will be key, but the rupee could head towards 82.50-levels, the trader added. Several executives at top U.S. banks this week have warned about this possibility. Meanwhile, the Reserve Bank of India hiked the key repo rate by 35 basis points (bps) to 6.25% on Wednesday but sounded more hawkish than market expectations about fighting inflation.
MUMBAI, Dec 6 (Reuters) - The Indian rupee is expected to open lower versus the dollar on Tuesday after better-than-expected U.S. data rekindled worries on how high the Federal Reserve will hike rates. The rupee is projected to open at around 81.90 per U.S. dollar, weaker than the 81.79 closing in the previous session. The rupee has in the last two sessions declined despite a host of positive cues. The rise in Treasury yields and expectations that the Reserve Bank of India will deliver a smaller rate hike on Wednesday may push rupee forward premiums to new multi-year lows. The RBI will raise interest rates by a smaller 35 basis points to 6.25% in December, according to economists polled by Reuters.
Indian shares slip as oil jumps on easing China COVID curbs
  + stars: | 2022-12-05 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Dec 5 (Reuters) - Indian shares dipped at open on Monday, as oil prices jumped following China's unwinding of COVID-19 restrictions, while investors awaited the Reserve Bank of India's monetary policy decision due later in the week. Oil prices rose after OPEC+ held its output targets in its meeting on Sunday and easing China curbs offered hopes of a rebound in fuel demand. Rise in oil prices is a negative for oil-importing countries like India, where crude oil constitutes the most in the country's import bill. Nifty Metal index was the top sectoral gainer, adding 1.11%, led by Hindalco (HALC.NS), National Aluminium (NALU.NS). Indian markets are also focused on the central bank's monetary policy decision, which is due on Wednesday.
Indian shares set to rise after Powell hints at slower hikes
  + stars: | 2022-12-01 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, Dec 1 (Reuters) - Indian shares are set to open higher on Thursday, tracking the sharp uptick in global equities after Federal Reserve Chair Jerome Powell hinted at slowing the pace of interest rate hikes "as soon as December." India's NSE stock futures listed on the Singapore exchange were up 0.40% at 18,991.50 as of 07:30 a.m IST. Data on Wednesday showed the Indian economy logged 6.2% annual growth rate in July-September after double-digit expansion in the previous quarter. Foreign institutional investors bought net of 90.10 billion Indian rupees ($1.11 billion) equities on Wednesday, while domestic investors sold 40.56 billion rupees worth of shares, as per provisional NSE data. Stocks To Watch:** Apollo Hospitals (APLH.NS): Company approved issue of non-convertible debentures worth 1.05 billion rupees.
Indian shares set to open lower after Wall Street slide
  + stars: | 2022-11-29 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, Nov 29 (Reuters) - Indian stocks were on Tuesday set to ease from all-time highs hit in the previous session, following an overnight slide in Wall Street on worries about China's COVID-19 management and as oil prices pared losses. U.S. crude rose 1.3% to $77.24 per barrel, while Brent crude trimmed losses to close above $83 per barrel. Foreign institutional investors bought net of 9.36 billion rupees ($114.65 million) equities on Monday, while domestic investors purchased 879.3 million rupees ($10.66 million) worth of shares, as per provisional NSE data. Stocks To Watch:** NDTV (NDTV.NS): NDTV said an entity backed by its founders had issued shares to a unit of Adani Group. ($1 = 81.6400 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.
India's Nifty 50 hits record high as oil firms jump
  + stars: | 2022-11-28 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Francis MascarenhasBENGALURU, Nov 28 (Reuters) - India's blue-chip Nifty 50 stock index hit a record high on Monday, hours after the benchmark Sensex also hit an all-time high, boosted by oil marketing companies as crude prices slid on demand concerns due to protests in China over COVID-19 curbs. The NSE Nifty 50 index (.NSEI) jumped 0.53% to an all-time high of 18,611.05, breaking a record it held since Oct. 19, 2021. Earlier in the day, the S&P BSE Sensex index (.BSESN) rose 0.61% to an all-time high of 62,674.49. Those concerns also caused a slide in oil prices as China is a top importer. The gains in Indian oil companies were led by Reliance Industries (RELI.NS), India's most valuable company, which surged 3.64%.
Indian shares set to open lower on China COVID woes
  + stars: | 2022-11-28 | by ( ) www.reuters.com   time to read: +2 min
Foreign institutional investors bought a net 3.69 billion rupees ($45.17 million) worth of equities on Friday, while domestic investors sold a net 2.96 billion rupees ($36.24 million) worth of shares, as per provisional NSE data. ** Larsen & Toubro Financial Holdings (LTFH.NS): Completed divestment of its mutual fund business to HSBC Asset Management (India) and received 34.84 billion rupees. The company also realised surplus cash balance of 7.65 billion rupees in L&T Investment Management. ** VA Tech Wabag (VATE.NS): Signed an agreement with Asian Development Bank towards raising 2 billion rupees through unlisted non-convertible debentures. ($1 = 81.6850 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; editing by Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.
Indian shares subdued on divergent rate hike views
  + stars: | 2022-11-25 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Nov 25 (Reuters) - Indian stocks opened marginally lower on Friday, after the benchmarks closed at record highs in the previous session, with investors digesting conflicting signals from global central banks on the interest rate environment. The benchmark S&P BSE Sensex (.BSESN) opened down 0.18% to 62,164.65, while the NSE Nifty 50 index (.NSEI) fell 0.14% to 18,459.00. The European Central Bank's equivalent of Federal Reserve rate-setting committee's minutes that came out on Thursday showed that the room for slowing down the pace of interest rate adjustments remained limited, in contrast to the U.S. central bank's assessment. Nifty IT index (.NIFTYIT) lost 0.4%, with seven of the 10 constituents falling in today's session. The Nifty Midcap 100 (.NIFMDCP100) and Nifty SmallCap 100 (.NIFTYSMCP100) indexes outperformed larger peers, rising 0.33% and 0.47%, respectively.
Indian shares edge up on UltraTech Cement boost
  + stars: | 2022-11-22 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Nov 22 (Reuters) - Indian equity benchmarks edged higher on Tuesday, after declining for three straight sessions, buoyed by gains in top cement producer UltraTech Cement (ULTC.NS). The benchmark S&P BSE Sensex (.BSESN) rose 0.11% to 61,212.36, while the NSE Nifty 50 index (.NSEI) gained 0.08% to 18,175.10. UltraTech Cement (ULTC.NS) led gains on the Nifty, rising as much a 2.4% to a near three-week high, while its parent Grasim Industries (GRAS.NS) advanced 2.1%. Indian markets are likely to be range-bound and not follow global cues ahead of state elections due in December, said AK Prabhakar, Head of Research, IDBI Capital. Foreign institutional investors sold 15.94 billion Indian rupees ($195.11 million) worth of equities on Monday, while domestic investors bought 12.63 billion rupees ($154.59 million) of shares, per provisional NSE data.
Indian shares open lower, weighed down by China, rate worries
  + stars: | 2022-11-21 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Nov 21 (Reuters) - India's shares opened lower on Monday, dragged down by auto, IT and consumer stocks, while the likelihood of tighter U.S. monetary policy and worsening COVID-19 infection numbers in China weighed on sentiment. The S&P BSE Sensex (.BSESN) shed 0.57% to 61,309.82 as of 0348 GMT, while the NSE Nifty 50 index (.NSEI) lost 0.51% to 18,214.45. The MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 1.25%Oil prices hovered at two-month lows, in part due to concerns over China's demand. Foreign institutional investors sold 7.51 billion Indian rupees ($91.79 million)($92 million) worth of equities on Friday, while domestic investors bought 8.90 billion rupees ($109 million) of shares, per provisional NSE data. ($1 = 81.8200 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
BENGALURU, Nov 17 (Reuters) - Indian shares slipped on Thursday, mirroring the weakness in Asian peers, amid growing signs that the Federal Reserve might not temper its aggressive monetary policy anytime soon. Meanwhile, Asia-Pacific shares ex-Japan (.MIAPJ0000PUS) slid a steeper 1.47%, with analysts pinning the smaller drop in local equities to India's fiscal health and economic growth prospects. San Francisco Fed President Mary Daly even said a pause was off the table. The Fed's stance could trigger "bouts of volatility," said Prashanth Tapse, vice president of research at Mehta Equities. "Traders are not uncomfortable with the high valuation of Indian markets, hence periodic profit-taking will continue."
[1/2] A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, December 11, 2018. REUTERS/Francis MascarenhasBENGALURU, Nov 15 (Reuters) - Indian shares gave up opening gains on Tuesday, dragged by consumer and IT stocks, as investors secured profits after a four-week rally, even as data showed annual retail inflation for October eased roughly in line with estimates. Slower rise in food prices helped India's annual retail inflation ease to 6.77% in October, from 7.41% in the previous month, data showed on Monday. More than 1,000 companies reported their quarterly results on Monday as the country's month-long earnings season drew to a close. Globally, investors will get another look at U.S. inflation when the producer price index data is released at 1330 GMT.
INDIA STOCKS Indian shares may edge higher as inflation eases
  + stars: | 2022-11-15 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, Nov 15 (Reuters) - Indian shares are expected to open slightly higher on Tuesday, as data showing annual retail inflation eased to a three-month low in October strengthened bets of smaller interest rate hikes from the country's central bank. Globally, investors will get another look at U.S. inflation when the producer price index data is released later in the day. ** Tyremaker Apollo Tyres (APLO.NS) reported a rise in quarterly profit. ** Biocon (BION.NS) reported a decline in quarterly profit as the drugmaker booked a heavy tax expense. ** Indian viscose and chemicals manufacturer Grasim Industries (GRAS.NS) reported a fall in quarterly profit, with brokerage Jefferies saying global slowdown weighed on earnings.
The rupee is tipped to open at around 80.65-80.70 per dollar, up from the previous session's close of 80.7950. The local currency jumped 2% last week in its best gain in almost four years. The rupee has already corrected more than 3% from record lows and "then you have to consider oil prices", the trader said. Asian currencies began the week on a positive note, keeping up the momentum fuelled by softer-than-expected U.S. inflation data. The data has prompted traders to calibrate again the pace of Fed rate hikes.
BENGALURU, Nov 11 (Reuters) - Indian shares rose over 1% on Friday, boosted by information technology companies and banks as cooling U.S. inflation fuelled hopes that aggressive Federal Reserve rate stance might begin to ease. The NSE Nifty 50 index (.NSEI) rose 1.3% to 18,269 as of 0351 GMT, while the S&P BSE Sensex (.BSESN) added 1.4% to 61,453.18. India will report its October inflation number next week. The Nifty IT index (.NIFTYIT) surged 3.2%, while the bank index (.NSEBANK) gained 1.3%. Shares of Zomato (ZOMT.NS) jumped 10% after the Indian food delivery firm on Thursday reported a narrower loss for the second quarter.
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