INDIAN BENCHMARKS are likely to open higher on Monday tracking a mostly bullish trend across markets in Asia as traders bet that the recent bout of losses that had pushed global stocks into a bear market were excessive even as concerns over global growth persisted. SGX Nifty is trading 100 points lower. Investors may react to IIP and inflation data released on Friday, while eying the January wholesale data which will be released today.
Global Markets:
Asian stocks mostly climbed on Monday, with Japan shares surging, after last week's sharp selloff. But China's shares lost ground as its markets re-opened after the week-long Lunar New Year holiday.
European shares rebounded on Friday as Deutsche Bank and Commerzbank rallied, helping stock markets stage a partial recovery from stinging losses earlier in the week.
US stocks rallied on Friday, snapping a five-day losing streak in the S&P 500, as financial, commodity-related and other beaten-down shares rebounded.
Major Headlines of the day:
• Axis Bank to raise $500 mn in Tier-II bonds
• Finolex Industries Q3 net profit at Rs42.97 crore
• ITC to invest Rs 800 cr in Odisha for hotel, food park
• Tata Steel wins TIME's best in class for manufacturing award
RESULT’S ON 15th FEB 2016 : BANKBARODA, JINDAL STEL, ALLCARGO,HDIL,GITANJALI
Trend in FII flows:
The FIIs were net sellers of Rs -398.37 Cr in the cash segment on Friday while the DIIs were net buyers of Rs 545.07 Cr, as per the provisional figures released by the NSE.
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