Market Opens:
Benchmark indices are trading lower on the Thursday morning with Nifty is hovering around 10,750 level.
At 09:18 hrs IST, the Sensex is down 52.52 points at 35981.59, while Nifty is down 26.20 points at 10767.50. About 304 shares have advanced, 495 shares declined, and 30 shares are unchanged.
Karur Vysya Bank, IOC, BPCL, HPCL, Reliance Capital, Repco Home Finance, DHFL, RIL, Kotak Mahindra Bank are among major losers, while Yes Bank is up 27 percent, while Tata Motors, L&T are other major gainers.
Except auto and pharma all other sectoral indices are trading lower.
Rupee Opens:
The Indian rupee opened lower at 70.87 per dollar on Thursday versus previous close 70.80.
Global Market:
SGX Nifty:
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 38 points or 0.35 percent. Nifty futures were trading around 10,765-level on the Singaporean Exchange.
Wall Street (U.S.) ends higher:
Wall Street closed higher on Wednesday as investor optimism was stoked over hopes the United States and China could iron out a trade deal, and benign inflation data suggested the Federal Reserve would hold interest rates steady in the near term.
Asian markets trade mixed:
Asian stock markets started in a cautious mood on Thursday as investors hoped for progress in the latest Sino-US tariff talks while bracing for China trade data that are expected to show further falls in both exports and imports.
Commodity Market:
Gold rises on hopes of Fed pause; trade talks in focus
U.S. consumer prices were unchanged for a third straight month in January, leading to the smallest annual increase in inflation in more than 1-1/2 years, which could allow the Federal Reserve to hold interest rates steady for a while.
Spot gold was up 0.2 percent at $1,308.20 per ounce, as of 0105 GMT.
U.S. gold futures were down 0.3 percent at $1,311.
U.S. Treasury Secretary Steven Mnuchin said talks with China went well on Wednesday, as the world's two largest economies try to hammer out an agreement.
Spain's parliament rejected a draft 2019 budget on Wednesday after Catalan separatists turned their back on the government, pushing the country close to an early national election amid an increasingly fragmented political landscape.
BNP Paribas on Wednesday said it expects gold prices to average $1,330 per ounces in 2019 and $1,415 per ounces in 2020.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, dropped 0.26 percent to 796.85 tonnes on Wednesday from 798.89 tonnes on Tuesday.
Barrick Gold Corp on Wednesday forecast a double-digit jump in gold output this year, underscoring the growth potential of the world's largest publicly traded bullion producer after it bought rival Randgold Resources last month.
Russia's Finance Ministry said on Wednesday that Russia had produced 314.42 tonnes of gold and 1,119.95 tonnes of silver in 2018.
The Italian government has no intention of selling the Bank of Italy's gold reserves to plug budget holes, a prominent lawmaker of the ruling League party said on Wednesday.
Oil prices edge up on hopes for US-China trade breakthrough
U.S. West Texas Intermediate (WTI) crude futures were at $53.76 per barrel at 2338 GMT, up 10 cents, or 0.2 percent, from their last settlement. They closed up 1.5 percent on Wednesday, having touched their highest since Feb. 5 at $54.60 a barrel.
The 90-day truce (on trade) agreed in December will run out on March 1, but given the progress of the talks there could be an extension, which is why there are rising optimism that the two leaders will meet later that month.
But climbing U.S. oil stockpiles weighed on prices. U.S. crude oil inventories rose last week to the highest since November 2017 as refiners cut runs to the lowest since October 2017, the Energy Information Administration said on Wednesday.
Crude inventories built for a fourth week in a row, rising 3.6 million barrels to 450.8 million barrels in the week to Feb. 8. Analysts polled by Reuters forecast an increase of 2.7 million barrels.
The global oil market will struggle this year to absorb fast-growing crude supply from outside the Organization of the Petroleum Exporting Countries, even with the group's production cuts and U.S. sanctions on Venezuela and Iran
Domestic Markets:
Results on February 14: Oil & Natural Gas Corporation, Ashok Leyland, Jet Airways (India), Indiabulls Real Estate, Glenmark Pharmaceuticals, Voltas, Shree Renuka Sugars, Vikas EcoTech, Liberty Shoes, AVT Natural Products, Megasoft, TPL Plastech, S&S Power Switchgears, Mohit Industries, Gammon Infrastructure Projects, Thiru Arooran Sugars,
IFCI, Parsvnath Developers, Magnum Ventures, Uttam Value Steels, Wanbury, Impex Ferro Tech, Provogue (India), Mandhana Industries, Videocon Industries, Visesh Infotecnics, W S Industries (I), Lypsa Gems & Jewellery, Nitin Fire Protection Industries, JMT Auto, Pearl Polymers
Here are stocks that are in the news today:
DHFL falls 5% after resignation of CEO Harshil Mehta
"However, he would continue to be associated with the company and shall hold the designation of Executive President -Retail Business with effect from February 14, 2019," DHFL said in a regulatory filing on stock exchanges.
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