INDIAN BENCHMARKS NEWS UPDATES

INDIAN BENCHMARKS are poised to bounce back from Thursday’s carnage and open higher on the last day of the trading week as a four-day plunge paves the way for value buying, by investors and speculators, in the local bourses, at existing levels. SGX Nifty is trading 98.50 points higher. Fed Chair Janet Yellen’s comments wherein she highlighted concerns over the health of the US economy amidst a global turmoil even as she signaled delayed rate hikes, weighed heavily Indian markets fell over 3% on Thursday to the lowest since May 2014, its biggest daily fall in nearly six months as fears of a slowdown in the global economy hammered markets worldwide. The S&P BSE Sensex and CNX Nifty Trading Tips  ended 3.40%-3.32% lower each. 

Global Markets:

• Asian shares slid on Friday as mounting concerns about the health of European banks further threatened a global economic outlook already under strain from falling oil prices and slowdown in China and other emerging markets.
• European share index plunged to its lowest level in 2-1/2 years on Thursday, led down by a renewed slump in banks and commodity-related stocks, with Societe Generale sliding after disappointing results.
• The Dow industrials and S&P 500 rang up their fifth losing day in a row Thursday, falling amid a global rout led by tumbling oil prices and losses in financial stocks. 

Major Headlines of the day:

• Domestic steel companies hike prices by up to 4%.
• Tata Steel to start production at Kalinga agar plant in FY17.
• RIL offers discount on fuel sold at some Gujarat outlets.

RESULT’S ON 12th  FEB  2016 :  ADANIPORT, BPCL, CANARA BANK, HPCL, M&M.OIL, SUNPHARMA, SUNTV, ADANIPOWER

Trend in FII flows:   

The FIIs were net  sellers of  Rs -1112.66 Cr in the cash segment on Thursday while the DIIs were net buyers of  Rs 1222.12 Cr, as per the provisional figures released by the NSE.

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