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25 Feb, 2018, 05:14:58 PM
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Indices may open flat to slightly lower
12-Feb-18   08:44 Hrs IST

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 6.50 points at the opening bell.

Overseas, Asian stocks gained after a late-day rally on Wall Street on Friday, 9 February 2018, as investors fretted about the risks from looming US inflation data. Japanese markets are closed today in observance of a public holiday.

On the commodities front, oil prices were steady after sinking on Friday for a sixth straight day.

Among corporate earnings of prominent companies back home, Bank of India, Britannia Industries and GAIL (India) will announce October-December 2017 earnings today, 12 February 2018.

On a consolidated basis, net profit of Coal India rose 4.22% to Rs 3005.02 crore on 2.52% decline in total income to Rs 22484.14 crore in Q3 December 2017 over Q3 December 2016. The result was announced on Saturday, 10 February 2018.

State Bank of India (SBI) reported net loss of Rs 2416.37 crore in Q3 December 2017 as against net profit of Rs 2610 crore in Q3 December 2016. Total income rose 17.4% to Rs 62887.06 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours on Friday, 9 February 2018.

Net profit of Mahindra & Mahindra (M&M) rose 12.50% to Rs 1215.91 crore on 4.57% rise in net sales to Rs 11577.78 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours on Friday, 9 February 2018.

Net profit of ONGC rose 15.22% to Rs 5014.67 crore on 14.90% rise in net sales to Rs 22995.88 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours on Friday, 9 February 2018.

On the macro front, the government will announce inflation data based on consumer price index (CPI) for January 2018 after market hours today, 12 February 2018. Consumer prices in India increased 5.21% year-on-year in December of 2017.

The government will announce industrial production data for December 2017 today, 12 February 2018. India's industrial production rose sharply by 8.4% year-on-year in November 2017.

Meanwhile, the provisional figures of direct tax collections up to January 2018 showed that net collections are at Rs 6.95 lakh crore which is 19.3% higher than the net collections for the corresponding period of last year. The net direct tax collections represent 69.2% of the revised estimates of direct taxes for FY 2018 (Rs 10.05 lakh crore). Gross collections (before adjusting for refunds) have increased by 13.3% to Rs 8.21 lakh crore during April 2017 to January 2018. Refunds amounting to Rs 1.26 lakh crore have been issued during April 2017 to January 2018.

Meanwhile, the stock market closed the last trading session of the week with strong losses on Friday, 9 February 2018, weighed by weak global stocks. The Sensex fell 407.40 points or 1.18% to settle at 34,005.76, its lowest closing level since 4 January 2018.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 1351.70 crore on Friday, 9 February 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 588.42 crore on Friday, 9 February 2018, as per provisional data.

The Indian stock market will remain shut tomorrow, 13 February 2018, on account of Mahashivratri.

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