Q4 earnings, inflation data to drive stocks this week: Experts
NEW DELHi: Fourth quarter earnings of blue-chips such as Infosys, TCS, Wipro, RIL and inflation data for March will dictate the trend on the bourses in a holiday-shortened week ahead, experts said. Stock markets will remain closed on Monday and Friday for Ambedkar Jayanti and Good Friday, respectively. Market experts said that the major trigger for the stock market is March quarter corporate earnings, starting with IT bellwether Infosys from Tuesday. Among other major earnings this week are TCS, Wipro, GlaxoSmithKline Pharmaceuticals, HCL Technologies and Reliance Industries. On the macroeconomic front, data for inflation based on wholesale price index (WPI) and consumer price index (CPI) for March will be announced on Tuesday.
MFs’ exposure to bank stocks hit 14-month high at R40,293 crore
NEW DELHi: Fund managers raised their exposure in bank stocks to a 14-month high of over Rs 40,293 crore in March this year amid rising equities market. According to the latest data available with market regulator Sebi, mutual fund (MF) investments in banking stocks reached Rs 40,293 crore as on March 31, 2014, accounting for 19.76 per cent of their total equity assets under management (AUM) of Rs 2.04 lakh crore. This was the highest level since January 2013, when fund managers had shored up their investment in banking shares to Rs 42,760 crore. This was also the second consecutive monthly rise in exposure. The investment in the sector had risen to a record high of Rs 43,659 crore in December 2012.
Foreign investors put $1.3 billion in equity markets in April
NEW DELHi: Foreign investors have so far pumped in a staggering Rs 7,764 crore ($1.3 billion) in the domestic stock market this month, primarily on hopes of a strong reformist government after the general elections. Total investment by foreign institutional investors (FIIs) in equities since January 2014 has risen to Rs 29,960 crore ($4.94 billion). Market analysts say FIIs are bullish on India, expecting a strong reformist government taking charge after the ongoing Lok Sabha elections. FIIs were gross buyers of shares worth Rs 44,335 crore and sellers of stocks to the tune of Rs 36,571 crore in the week to April 11, resulting in a net inflow of Rs 7,764 crore ($1.3 billion), according to Sebi data.
RBI to shortly issue R500, R100 notes of 2014 printing year
MUMBAi: The Reserve Bank of India will shortly issue banknotes of Rs 500 and Rs 100 denominations in the Mahatma Gandhi series with 2014 as the printing year. Currencies of both the denominations will bear the signature of RBI Governor Raghuram G Rajan. RBI said the design of these banknotes will be similar in all respects to Rs 500 and Rs 100 banknotes printed in Mahatma Gandhi series-2005 issued earlier. PTI