Market Insight - Dow, Dow Futures, Hangseng, SGX Nifty & Nikkei 5 Feb 17

Markets always tend to be interesting with something or the other happening all the time. Our Morning Mantra is released before the opening bell and it includes the market commentary along with Corporate & Global news for the day.

U.S. stock closed mostly lower Thursday after a midday gain faded by late afternoon.

Dow

25521.0

-665.8

-2.54%

Dow Futures

25243.0

-185.0

-0.73%

Hangseng

31963.5

-638.3

-1.96%

Nikkei

22709.0

-565.5

-2.43%

SGX Nifty

10591.0

-127.5

-1.19%

Asian stocks dipped, with technology stocks leading declines after some disappointment with U.S. corporate earnings. Rising pressure on bond yields round the world stirred the Bank of Japan into action to keep rates from getting out of whack with policy targets.

Market is expected to open with gap down and likely to witness selling pressure during the day.  

GAIL places order of Rs 440 crore for 350 kilometers Vijaipur(UP) – Auraiya(MP) spurline and Rs 3,500 crore capex for City Gas Distribution in financial year 2019.

Tata Steel completes completion of 74 % stake in Bhubaneshwar Power for Rs 255 crore.

GMR Infra to acquire 4.15 crore shares (11 %) in GMR Hyderabad International Airport for $76 million

Avenue Supermarts completes acquisition of 4.35 crore in Avenue E-Commerce for Rs 49.2 crore.

Mangalam Organics to buyback 6.10 lakh shares (6.74 % equity) at Rs 230 each.

Aurobindo Pharma gets U.S. FDA approval for Niacin.

Sintex Plastics to issue warrants to promoters aggregating to Rs 600cr

Force Motors Jan'18 Sales improved -Total Sales came at 2667 vs YoY 2353 units (13.3%) and MoM 1921 units (38.8%).

Hero Motocorp Jan'18 Sales above expectations -Motorcycles came at 641501 units vs expectation of 576800 units, YoY 487088 units (31.7%) and MoM 472731 units (35.7%)

Kerala Budget 2018 tax on IMFL (Indian Made Foreign Liquor) increased. Liquor whose cost is up to Rs 400 to charged 200% and above Rs 400 to charged at 210%. Tax on beer increased to 100%. Negative for Alcoholic Beverages companies like Som Distillers, United Spirits, United Breweries.

Institutional Desk - Automobile Sales- January 2018- Monthly Sales Update-Sales Remain Robust On A Low Base: Automobile sales in January 2018 remained strong, with most companies reporting double-digit YoY growth in volume on account of a low base because of demonetisation. Commercial vehicle (CV) sales grew the strongest, followed by two-wheeler and car sales. Tractor sales also posted double-digit growth. Both commercial vehicle (CV) and two-wheeler segments were hit hard following demonetisation and the yearly growth rate reflects the same.