Market Ahead, February 14: Top factors that could guide markets today

Investors look set for another cautious session on Friday as they try to gauge the extent and effect of the coronavirus. The death toll from a coronavirus outbreak in China’s Hubei province rose by 116 on Friday. However, China did not disclose the total number of deaths, which stood at 1,310 on Thursday.

Investors will also react to India’s ‘BBB-‘ rating affirmation by Standard and Poor that maintained a “stable” outlook. The global agency said that despite a notable deceleration in India’s economy in recent quarters, it believes India’s structural growth outperformance remains intact.

Besides, they will track corporate earnings for stock-specific action and the WPI inflation numbers which will be released later in the day.

Investors will react to corporate results announced post market hours yesterday. Vodafone Idea’s consolidated loss in the December quarter expanded to Rs 6,439 crore while food and beverages major Nestle India reported an 18 per cent YoY jump in its profit before tax for the quarter.

A total of 946 companies, including ONGC, Embassy Office Parks REIT, and Fortis Healthcare are scheduled to announce their December quarter earnings today.

may trade actively today as the Supreme Court will take up the telcos’ plea, regarding the negotiation of the AGR payment terms.

Globally, Wall Street lost ground on Thursday as investors digested new coronavirus developments and mixed corporate earnings. The fell 0.43 per cent, the lost 0.16 per cent, and the Nasdaq Composite dropped 0.14 per cent. Asian shares also eased on Friday. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.08 per cent with South Korea’s Kospi falling 0.25 per cent while Japan’s slid 0.67 per cent.

In commodities, oil prices extended gains on hopes of more production cuts.

Back home, ended Thursday’s session 106 points lower at 41,460 while Nifty finished at 12,175, down 27 points. Analysts say that the Nifty seems to have resistance at 12,231. On the lower side, the Index is likely to slip till 12,000 levels which is the next immediate support.

And, in the end, here’s a stock call by Anand Rathi shares and stock brokers which recommends buying Mcdowell for the target of Rs 801 with stop-loss at Rs 649.

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