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14-Jun-2019   08:27 Hrs IST Markets likely to open marginally in red amid higher oil prices <p align="justify">Indian benchmarks ended choppy trading session almost flat on Thursday as lack of buying triggers kept trading sentiment at a low ebb amid mixed macro-economic data. Today, the markets are likely to make slightly negative start amid mixed cues from Asian peers on rising global geopolitical tensions and higher oil prices. Traders will be eyeing the inflation data based on wholesale price index (WPI) slated to be announced later in the day. There will be some cautiousness with ICRA's research report stating that the earnings released by 642 companies in the Indian corporate sector revealed that the revenue growth in the fourth quarter (January-March) of FY18-19 hit a six-quarter low at 10 percent. It added that weak consumer sentiments and softening of commodity prices led to a fall in the revenue growth in the last quarter of FY19. However, some support may come later in the day with the Reserve Bank of India's statement that it will infuse Rs 12,500 crore into the financial system through bond purchases on June 20. The decision has taken based on a review of the evolving liquidity conditions and assessment of the durable liquidity needs going forward. Traders may take note of report that markets watchdog SEBI came out with a strict disclosure framework for credit rating agencies wherein they will be required to provide the probability of default for various rated instruments. The regulator's move comes against the backdrop of rising instances of debt defaults and concerns over the role of credit rating agencies in assessing the possible risks. Credit rating agencies have also come under the scanner in the IL&amp;FS case. There will be some reaction in telecom stocks with report that the apex decision making body at the Telecom Department has decided to refer to TRAI for reconsideration the recommendations on spectrum auction amid industry's concerns on pricing. The Digital Communications Commission (DCC) also approved the terms and conditions for 5G trials in the country. There will be some buzz in the insurance stocks with report that the annualised premium equivalent of private sector life insurers saw a 28 percent year-on-year growth in May.</p><p align="justify">The US markets ended in green on Thursday with petroleum-linked shares gaining after suspected attacks on a pair of tankers boosted oil prices. Asian markets are trading mixed on Friday as investors weighed a variety of factors, including suspected attacks on two oil tankers in the strategic Strait of Hormuz and lingering worries about trade conflict between the US and China.<br></p><p align="justify"></p><p align="justify">Back home, Indian equity benchmarks staged recovery to end flat on Thursday, with Sensex and Nifty reclaiming their crucial psychological levels of 39,700 and 11,900, respectively. The markets made a negative start of the day, as India's retail inflation based on Consumer Price Index (CPI) jumped to a seven-month high of 3.05% in May. As per the data, the jump in the CPI was mainly due to rise in prices of kitchen items like vegetables, meat and fish. Domestic sentiments remained lackluster throughout the day, amid reports that deal making through the private equity/venture capital routes saw a sharp 54 percent dip in May at a low $2.8 billion due to fewer large deals. There were 82 deals involving PE/VC investments of $2.8 billion in May. The dip comes amid data release of sagging GDP growth fuelled largely by a fall in consumption which has been the one of the favourite for investors as well. But, in the last leg of the trade, key indices pared most of their losses, tracking firm European markets. Trading sentiments got improved after India has been lauded by a high-level panel on digital cooperation launched by UN chief General Antonio Guterres for undertaking revolutionary digital initiatives to ensure economic inclusion for its 1.3 billion citizens. Traders took some support with a report that India's industrial production measured by Index of Industrial Production (IIP) picked up space and accelerated to a six-month high of 3.4% in April mainly on account of improvement in mining and power generation. As per the data released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation, IIP with base 2011-12 for the month of April 2019 stood at 126.8. Finally, the BSE Sensex declined 15.45 points or 0.04% to 39,741.36, while the CNX Nifty was up by 7.85 points or 0.07% to 11,914.05.<br></p>
13-Jun-2019   08:35 Hrs IST Benchmarks likely to make cautious start amid mixed macro-economic data <p align="justify">Indian markets snapped three-day winning streak and settled in red territory on Wednesday dragged by losses in banking and auto stocks amid US-China trade tensions. Today, the start is likely to be cautious amid mixed macro-economic data coupled with weakness in global markets. As per the government data, retail inflation spiked to a seven-month high of 3.05 percent in May, though remaining within RBI's comfort level, as kitchen items like vegetables, meat and fish turned dearer. On the other hand, India's industrial output grew to a six-month high of 3.4 percent in April mainly on account of improvement in mining and power generation. There will be some cautiousness with a private report that deal making through the private equity/venture capital routes saw a sharp 54 percent dip in May at a low $2.8 billion due to fewer large deals. The dip comes amid data release of sagging GDP growth fuelled largely by a fall in consumption which has been the one of the favourite for investors as well. However, some support may come later in the day with a UN report showing that Foreign Direct Investment (FDI) to India grew by 6 per cent to $42 billion in 2018, with strong inflows in the manufacturing, communication and financial services sectors, and cross-border merger and acquisition activities. Meanwhile, the Cabinet approved introduction of the Special Economic Zones (Amendment) Bill, 2019 in the ensuing session of Parliament. The bill will replace Special Economic Zones (Amendment) Ordinance, 2019, which was promulgated in March. The ordinance had paved the way for trusts to set up units in special economic zones (SEZs). There will be some buzz in the telecom stocks with report that the Telecom regulator TRAI extended the timeline for implementation of revised Mobile Number Portability (MNP) norms, by more than three months to September 30, providing relief to operators. There will be some reaction in sugar stocks with a private report indicating that sugar output in India may drop to a three-year low next season from a record as dry weather shrivels cane plants in some major growing areas of the country.</p><p align="justify">The US markets ended in red on Wednesday amid lingering trade tensions and questions over the direction of Federal Reserve policy. Asian markets are trading mostly lower on Thursday, weighted down by concerns of a flattening global growth.<br></p><p align="justify"></p><p align="justify">Back home, snapping three days winning streak, Indian equity benchmarks ended the Wednesday's trade with a cut of around half a percent, as traders remained on sidelines ahead of macro-economic data. Retail inflation and industrial production data for May and April, respectively, due to be released later in the day. There is expectation that retail inflation likely accelerated to a seven-month high in May on rising food prices. Traders also remained anxious with former Chief Economic Advisor Arvind Subramanian's statement that country's growth has been overestimated by nearly 2.5 per cent under both UPA and NDA rule. The actual growth is likely to be lower, at nearly 4.5 per cent, down from 7 per cent between 2011-12 and 2016-17. Market participants paid no heed to the Reserve Bank of India's (RBI) statement that it will infuse Rs 15,000 crore into the financial system through bond purchases on June 13. Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the RBI has decided to conduct purchase of (six) Government securities under OMOs through multi-security auction using the multiple price method. Meanwhile, State Bank of India (SBI) in its research report ‘Ecowrap' has underlined RBI's new guidelines to deal with bad loans will provide lenders the headroom and flexibility for resolution of large ticket stressed asset cases under the Insolvency and Bankruptcy Code (IBC). Finally, the BSE Sensex declined 193.65 points or 0.48% to 39,756.81, while the CNX Nifty was down by 59.40 points or 0.50% to 11,906.20.</p>
12-Jun-2019   08:39 Hrs IST Benchmarks likely to make cautious start ahead of macro-economic data
11-Jun-2019   08:42 Hrs IST Markets likely to make slightly positive start on Tuesday
10-Jun-2019   08:25 Hrs IST Markets likely to make positive start of new week
07-Jun-2019   08:35 Hrs IST Markets to make cautious start on Friday
06-Jun-2019   08:34 Hrs IST Markets likely to open in red territory; RBI monetary policy outcome eyed
04-Jun-2019   08:34 Hrs IST Markets likely to make negative start on Tuesday
03-Jun-2019   08:30 Hrs IST Markets likely to start marginally in green amid higher tax mop-up
31-May-2019   08:37 Hrs IST Markets likely to make cautious start ahead of GDP data

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