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Lupin Ltd dropped for a fifth straight session today. The stock is quoting at 759.6, down 0.4% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.48% on the day, quoting at 10787.3. The Sensex is at 35921.51, up 0.46%.Lupin Ltd has eased around 12.23% in last one month.Meanwhile, Nifty Pharma index of which Lupin Ltd is a constituent, has eased around 2.82% in last one month and is currently quoting at 8606.35, up 0.41% on the day. The volume in the stock stood at 9.02 lakh shares today, compared to the daily average of 19.72 lakh shares in last one month.
The benchmark February futures contract for the stock is quoting at Rs 763.75, down 0.25% on the day. Lupin Ltd tumbled 5.06% in last one year as compared to a 3.9% rally in NIFTY and a 2.48% fall in the Nifty Pharma index.

On the BSE, 5.93 lakh shares were traded in the counter so far compared with average daily volumes of 1.39 lakh shares in the past two weeks. The stock had hit a high of Rs 840.10 and a low of Rs 809.70 so far during the day.
Tech Mahindra said the company's board of directors approved the proposal for buyback of equity shares not exceeding 20,585,000 equity shares (being 2.10% of the total paid-up equity capital of the company) from the equity shareholders of the company as on 6 March 2019 (Record Date) at Rs 950 per share, for an aggregate amount not exceeding Rs 1956 crore on a proportionate basis through the tender offer route.
Tech Mahindra's consolidated profit after tax rose 13% to Rs 1203 crore on 3.6% rise in revenue to Rs 8944 crore in Q3 December 2018 over Q2 September 2018.
Tech Mahindra is a leading provider of digital transformation, consulting and business re-engineering services and solutions.

Shankara Building Products Ltd, Indo Count Industries Ltd, Indian Energy Exchange Ltd and Minda Industries Ltd are among the other losers in the BSE's 'A' group today, 21 February 2019.
Oil India Ltd lost 4.52% to Rs 172.3 at 14:48 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 80207 shares were traded on the counter so far as against the average daily volumes of 92877 shares in the past one month.
Shankara Building Products Ltd tumbled 3.08% to Rs 447.5. The stock was the second biggest loser in 'A' group.On the BSE, 13014 shares were traded on the counter so far as against the average daily volumes of 13934 shares in the past one month.
Indo Count Industries Ltd crashed 2.83% to Rs 36.05. The stock was the third biggest loser in 'A' group.On the BSE, 23156 shares were traded on the counter so far as against the average daily volumes of 44453 shares in the past one month.
Indian Energy Exchange Ltd pared 2.72% to Rs 159. The stock was the fourth biggest loser in 'A' group.On the BSE, 18075 shares were traded on the counter so far as against the average daily volumes of 4549 shares in the past one month.
Minda Industries Ltd corrected 2.68% to Rs 316.5. The stock was the fifth biggest loser in 'A' group.On the BSE, 23626 shares were traded on the counter so far as against the average daily volumes of 35879 shares in the past one month.

Vedanta Ltd gained for a third straight session today. The stock is quoting at Rs 159, up 3.85% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is up around 0.67% on the day, quoting at 10675.35. The Sensex is at 35580.9, up 0.65%. Vedanta Ltd has slipped around 19.88% in last one month.
Meanwhile, Nifty Metal index of which Vedanta Ltd is a constituent, has slipped around 6.62% in last one month and is currently quoting at 2689.7, up 2.27% on the day. The volume in the stock stood at 91.78 lakh shares today, compared to the daily average of 156.57 lakh shares in last one month.
The benchmark February futures contract for the stock is quoting at Rs 159.35, up 3.84% on the day. Vedanta Ltd is down 51.47% in last one year as compared to a 2.67% spurt in NIFTY and a 29.68% spurt in the Nifty Metal index.

Glenmark Pharmaceuticals Ltd rose for a third straight session today. The stock is quoting at Rs 585.1, up 1.03% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is up around 0.67% on the day, quoting at 10675.35. The Sensex is at 35580.9, up 0.65%. Glenmark Pharmaceuticals Ltd has dropped around 9.44% in last one month.
Meanwhile, Nifty Pharma index of which Glenmark Pharmaceuticals Ltd is a constituent, has dropped around 1.64% in last one month and is currently quoting at 8552.7, up 0.45% on the day. The volume in the stock stood at 2.8 lakh shares today, compared to the daily average of 7.12 lakh shares in last one month.
The benchmark February futures contract for the stock is quoting at Rs 586.9, up 1.22% on the day. Glenmark Pharmaceuticals Ltd is up 11.46% in last one year as compared to a 2.67% gain in NIFTY and a 2.85% gain in the Nifty Pharma index.

United Spirits Ltd gained for a third straight session today. The stock is quoting at Rs 527.3, up 2.89% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is up around 0.67% on the day, quoting at 10675.35. The Sensex is at 35580.9, up 0.65%. United Spirits Ltd has slipped around 10.22% in last one month.
Meanwhile, Nifty FMCG index of which United Spirits Ltd is a constituent, has slipped around 4.97% in last one month and is currently quoting at 29009.7, down 0.14% on the day. The volume in the stock stood at 14.09 lakh shares today, compared to the daily average of 16.97 lakh shares in last one month.
The benchmark February futures contract for the stock is quoting at Rs 528.5, up 2.68% on the day. United Spirits Ltd is down 17.03% in last one year as compared to a 2.67% spurt in NIFTY and a 9.02% spurt in the Nifty FMCG index.

Think Ink Studio Ltd, Arihant Foundations & Housing Ltd, Bedmutha Industries Ltd and E-Land Apparel Ltd are among the other losers in the BSE's 'B' group today, 19 February 2019.
Premier Polyfilm Ltd tumbled 9.98% to Rs 23.45 at 14:15 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 91 shares were traded on the counter so far as against the average daily volumes of 286 shares in the past one month.
Think Ink Studio Ltd lost 9.82% to Rs 4.5. The stock was the second biggest loser in 'B' group.On the BSE, 3200 shares were traded on the counter so far as against the average daily volumes of 1.44 lakh shares in the past one month.
Arihant Foundations & Housing Ltd crashed 9.68% to Rs 27.05. The stock was the third biggest loser in 'B' group.On the BSE, 599 shares were traded on the counter so far as against the average daily volumes of 270 shares in the past one month.
Bedmutha Industries Ltd plummeted 9.40% to Rs 15.9. The stock was the fourth biggest loser in 'B' group.On the BSE, 13054 shares were traded on the counter so far as against the average daily volumes of 1827 shares in the past one month.
E-Land Apparel Ltd dropped 8.88% to Rs 3.9. The stock was the fifth biggest loser in 'B' group.On the BSE, 2046 shares were traded on the counter so far as against the average daily volumes of 596 shares in the past one month.

Navkar Corporation Ltd, Reliance Power Ltd, Kwality Ltd and Wipro Ltd are among the other losers in the BSE's 'A' group today, 19 February 2019.
Kaveri Seed Company Ltd crashed 13.04% to Rs 406.95 at 14:48 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 5.51 lakh shares were traded on the counter so far as against the average daily volumes of 44946 shares in the past one month.
Navkar Corporation Ltd tumbled 4.34% to Rs 37.5. The stock was the second biggest loser in 'A' group.On the BSE, 18063 shares were traded on the counter so far as against the average daily volumes of 23456 shares in the past one month.
Reliance Power Ltd lost 3.52% to Rs 10.95. The stock was the third biggest loser in 'A' group.On the BSE, 43.15 lakh shares were traded on the counter so far as against the average daily volumes of 86.62 lakh shares in the past one month.
Kwality Ltd plummeted 3.06% to Rs 5.38. The stock was the fourth biggest loser in 'A' group.On the BSE, 4.04 lakh shares were traded on the counter so far as against the average daily volumes of 2.26 lakh shares in the past one month.
Wipro Ltd fell 2.94% to Rs 364.5. The stock was the fifth biggest loser in 'A' group.On the BSE, 67789 shares were traded on the counter so far as against the average daily volumes of 2.09 lakh shares in the past one month.

The Board of Cyient at its meeting held on 17 January 2019 has decided that further deliberations are required in order to take a decision on the proposal of buyback, and accordingly decided to take up the discussion regarding the buyback at a later date. The Company shall comply with SEBI LODR Regulations and other applicable laws in this regard.

Wipro Gallagher Solutions, a Wipro company announced the launch of its NetOxygen Saas loan origination solution for mortgage lenders.
NetOxygen Saas brings the power of NetOxygen, an enterprise class loan origination system that helps lenders reduce origination costs and boost production efficiency through automation. NetOxygen connects to a front end portal and fintech offerings thus providing seamless interactions to improve borrower experience. NetOxygen Saas enables quicker deployment and scalability to match business growth with an all-inclusive, per transaction pricing, which is based on business outcomes.
NetOxygen Saas provides comprehensive product coverage across mortgage, home equity, HELOC (home equity line of credit) and unsecured credit lines origination. The platform integrates an extensive vendor ecosystem which provides multiple options for standard services like credit, appraisals, fraud checks, etc. NetOxygen Saas supports retail, correspondent and wholesale markets, and also enables niche offerings like construction lending for one close, multiple close, homestyle renovation and FHA construction.

Phoenix Mills has allotted 10,000 equity shares of Rs. 2/- each fully paid-up at an exercise price of Rs. 333.90/- per share to the grantees upon exercise of stock options pursuant to The Phoenix Mills Employees Stock Option Plan 2007.
Consequent upon allotment of the above shares, the equity share capital of the Company stand increased from present level of 15,31,70,351 (Nos.) to 15,31,80,351 (Nos.) equity shares of Rs. 2/- each.

Lupin announced that it has received final approval for its Tetrabenazine Tablets, 125 mg and 25 mg from the United States Food and Drug Administration (FDA) to market a generic version of Valeant pharmaceuticals North America, LLC's Xenazine® Tablets, 12.5 mg and 25 mg.
Lupin's Tetrabenazine Tablets, 12.5 mg and 25 mg are the generic equivalent of Va Ie ant Pharmaceuticals North America, LLC's Xenazine® Tablets, 12.5 mg and 25 mg. It is indicated for the treatment of chorea associated with Huntington's disease.
Tetrabenazine Tablets, 125 mg and 25 mg had annual sales of approximately USD 288.1 million in the US (IQVIA MAT Jan 2018).

The Board of Axis Bank has commenced the succession process to appoint a new Managing Director & CEO of the Bank. The Board has appointed Egon Zehnder, a global leadership advisory firm, to conduct the succession process and evaluate candidates for the said post. The Board will ensure that the said process will be completed before the end of Shikha Sharma's tenure and thus facilitate smooth transition of leadership responsibilities at the Bank.

Electrosteel Steels announced that as per the resolution plan which was submitted by Vedanta for acquisition of the Company under the provisions of the Insolvency and Bankruptcy Code, 2016, and which was approved by the National Company Law Tribunal (Kolkata Bench) (NCLT) pursuant to its order dated 17 April 2018 (Resolution Plan), on and from the date of approval of the Resolution Plan by the NCLT (i.e. 17 April 2018) until the date on which Vedanta acquires control of the Company as per terms of the Resolution Plan, the Company is required to be monitored by an Independent Managing Authority (IMA) under the instructions, control and management of a Steering Committee.
The Steering Committee has been constituted as per the terms of the Resolution Plan and comprises of majority nominees representing the financial creditors of the Company and minority nominees from Vedanta.
In addition to the above, PricewaterhouseCoopers Private Limited has also been appointed as the IMA by the Steering Committee.
In view of the above, the erstwhile Resolution Professional (i.e. Mr. Dhaivat Anjaria) has handed over the management of affairs of the Company to the IMA, which is acting under the supervision and instructions of the Steering Committee.

Visco Trade Associates announced that the Board of Directors of the company at its meeting held on 18 April 2018 has approved the matter relating for the resignation of Debasish Roy –Director (DIN- 00661173) and appointment of Dipak Sundarka- Additional Independent Director (DIN-05297111) of the Company for the period of 5 years w.e.f 18 April 2018 interalia to consider, approved and take on record.

The Board of Mindtree has approved and recommended the appointment of Bijou Kurien, as Independent director of the Company for a term of three years from 17 July 2018. The Board accepted the resignation of Manisha Girotra, Independent Director, due to pre-occupation, with immediate effect.

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan – Series 85 – 1156 Days Plan F, a close ended debt scheme. The tenure of the scheme is 1156 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 14 February 2019 to 20 February 2019.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme.
Presently, two options are available under the scheme viz. cumulative and dividend option (with dividend payout & dividend transfer plan facility) with quarterly and half yearly dividend frequency.
The scheme will invest 100% - 80% of its assets in debt instruments including government securities and invest upto 20% of assets in money market instruments with low to medium risk profile. The scheme will not have any exposure to derivatives and if a scheme decides to invest in securitized debt (Single loan and / or Pool loan Securitized debt), it could be upto 25% of the corpus of the scheme.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.
Entry load and exit load charge are not applicable for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
The fund managers of the scheme are Rahul Goswami and Rohan Maru.

IDFC Mutual Fund has launched a new fund named IDFC Fixed Term Plan Series – 176, a close-ended debt scheme. The tenure of the scheme is 1170 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 15 February 2019 to 20 February 2019.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.
The scheme offers two options viz. growth and dividend option. Dividend option offers, quarterly, half yearly, periodic dividend options and default option.
The scheme would invest 100% - 80% of its assets in debt securities with medium to high risk profile and upto 20% of assets in money market instruments (including CBLO) with low to medium risk profile.
Minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry load and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is Crisil Composite Bond Fund Index.
The fund manager of the scheme is Anurag Mittal.

HSBC Mutual Fund has launched a new fund named as HSBC Fixed Term Series 139 (1163 days), a close ended income scheme with the duration of 1163 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 12 February and closes on 20 February 2019.
The investment objective of the scheme would be to seek generation of returns by investing in a portfolio of fixed income instruments which mature on or before the maturity date of the plan.
The scheme offers growth and dividend payout option.
The scheme would allocate 80% to 100% of assets in debt instruments and upto 20% of assets in money market instruments with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Re. 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry load: Nil
Exit load: Not Applicable.
Benchmark Index for the scheme is Crisil Composite Bond Fund Index.
The fund manager for the scheme is Kapil Punjabi.

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Retirement Fund – Pure Equity Plan, an open ended retirement solution oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier). The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 07 February 2019 to 21 February 2019.
The investment objective of the Scheme is to generate long-term capital appreciation and income generation to investors from a portfolio that is predominantly invested in equity and equity related securities.
Presently, two options are available under the scheme viz. growth and dividend option with dividend payout only.
The scheme will invest 100% - 80% of its assets in Equity & Equity related instruments with medium to high risk profile, invest upto 20% of assets in debt and money market instruments with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.
The minimum additional application amount is Rs 1000 and in multiples of Rs 1 thereafter.
The fund seeks to collect a minimum subscription amount of Rs 10 crore under the scheme during the NFO period.
Entry load and exit load charge are not applicable for the scheme.
Benchmark Index for the scheme is Nifty 500 Index.
The fund managers of the scheme are Mrinal Singh and Ashwin Jain for Equity portion and Manish Banthia & Anuj Tagra for Debt portion. The Overseas investments under the scheme will be managed by Priyanka Khandelwal.

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan – Series 85 – 1168 Days Plan E, a close ended debt scheme. The tenure of the scheme is 1168 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 06 February 2019 to 13 February 2019.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme.
Presently, two options are available under the scheme viz. cumulative and dividend option (with dividend payout & dividend transfer plan facility) with quarterly and half yearly dividend frequency.
The scheme will invest 100% - 80% of its assets in debt instruments including government securities and invest upto 20% of assets in money market instruments with low to medium risk profile. The scheme will not have any exposure to derivatives and if a scheme decides to invest in securitized debt (Single loan and / or Pool loan Securitized debt), it could be upto 25% of the corpus of the scheme.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.
Entry load and exit load charge are not applicable for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
The fund managers of the scheme are Rahul Goswami and Rohan Maru.

DSP Mutual Fund has launched a new fixed maturity plan named as DSP FMP – Series 250 – 39M, a close ended income scheme with the duration of 39 months from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 07 February to 13 February 2019.
The primary investment objective of the scheme is to seek to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities which mature on or before the date of maturity of the scheme.
The scheme offers a choice of two options, growth option and dividend payout with regular payout and Quarterly payout option.
The scheme would allocate 80%-100% of assets in debt securities and invest 0% - 20% of assets in money market securities / instruments with low to medium risk profile.
The minimum application amount is Rs 5000.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

Baroda Mutual Fund has unveiled a new fund named as Baroda Fixed Maturity Plan – Series P, a close ended debt scheme. The tenure of the scheme is 1160 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 04 February 2019 to 12 February 2019.
The investment objective of the Scheme is to generate returns by investing in a portfolio comprising of debt instruments and money market instruments maturing on or before the maturity of the Scheme.
The scheme offers regular and direct plan. Both the plans will have growth option and dividend payout facility.
The scheme will invest 70%-100% of assets in Domestic debt instruments and government securities with low to medium and invest upto 30% of assets in money market instruments with low risk profile.
The minimum application amount is Rs 5000 and in multiples of Re. 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme.
Entry and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund index.
The fund manager of the scheme is Alok Sahoo and Hetal Shah.

Franklin Templeton Mutual Fund has launched a new fund named as Franklin India Fixed Maturity Plans – Series 5 – Plan F (1203 days), a close-ended debt fund. The tenure of the scheme is 1203 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 07 February to 12 February 2019.
The investment objective of the Scheme is to seek to generate income by investing in a portfolio of fixed income securities/ debt instruments maturing on or before the maturity of the Scheme.
The scheme offers growth plan, dividend plan (with payout facility), growth plan-direct and dividend plan-direct (with payout facility). Further, Plan (s) with a maturity of over 365 days also offers quarterly dividend (payout facility only) and quarterly dividend-direct (payout option only).
The scheme shall invest 80%-100% of assets in debt instruments with low to medium risk profile and invest upto 20% of assets in money market instruments with low risk profile.
The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry Load & exit load are not applicable.
Benchmark Index for the scheme will be CRISIL Composite Bond Fund Index.
Umesh Sharma and Sachin Padwal-Desai are the fund managers for the scheme.

According to monthly data from the International Aluminum Institute (IAI), the global aluminium production fell 3.5% month-on-month to total 5.3mt, levels last seen in September 2018. This was primarily led by China, where output slipped 5.4% over the month to total 2.97mt. The institute noted that ex-China supply also dropped by 1% MoM to total 2.34mt.

Eurozone's private sector rose at the fastest pace in three months in February, led by stronger growth in services, while manufacturing contracted, preliminary survey data from IHS Markit showed on Thursday. The flash Composite Purchasing Managers' Index (PMI) edged up to 51.4 from 51 in January. The Services PMI climbed to a three-month high of 52.3 from 51.2 in January. However, manufacturing sector contracted in February with the PMI falling to a 68-month low of 49.2 from 50.5 in the previous month.

WTI Crude oil futures came off their three month highs as markets eyed the weekly US energy stockpiles data to be released later today. The commodity currently lingers at $57.16 per barrel, unchanged on the day. Weakness in European equities also weighed on the oil futures after recent surge. MCX Crude oil futures are currently trading at Rs 4078 per barrel, down 0.27% on the day.
Global manufacturing dataflow remains weak. Eurozone's private sector rose at the fastest pace in three months in February, led by stronger growth in services while manufacturing contracted, preliminary survey data from IHS Markit showed today. The flash Composite Purchasing Managers' Index (PMI) edged up to 51.4 from 51 in January. The Services PMI climbed to a three-month high of 52.3 from 51.2 in January.
However, manufacturing sector contracted in February with the PMI falling to a 68-month low of 49.2 from 50.5 in the previous month. The manufacturing sector in Japan also slipped into contraction in February, the latest survey from Nikkei revealed with a 32-month low manufacturing PMI score of 48.5. That's down from 50.3 in January. The deterioration in the manufacturing sector reflected stronger falls in production and new orders.

COMEX Gold fell further today as profit selling stayed in place after the commodity soared to a ten month high around $1349 per ounce in last session. Gold took a breather after the US FOMC meeting minutes and saw further correction today though the recent spurt has done a lot to shape up the overall sentiments as bullish for the yellow metal. COMEX Gold futures are currently trading at $1337 per ounce, down 0.80% on the day. MCX Gold futures are trading at Rs 33651 per 10 grams, down 0.65% on the day as a break under Rs 34K extended further. There are clear concerns that spot prices around Rs 33500-33850 per 10 gram levels in retail markets can cap the demand from end users. Meanwhile, the equities ended up in US yesterday and sentiments remained supported for the Asian stocks today as the Fed minutes affirmed it would be "patient" on interest rate rises. Fed highlighted downside risks, including "the possibilities of a sharper-than-expected slowdown in global economic growth, particularly in China and Europe, a rapid waning of fiscal policy stimulus, or a further tightening of financial market conditions.

The Indian rupee added small gains against the dollar in early trades on Wednesday, 20 February 2019 even as foreign fund outflows continued amid firming oil prices. Foreign institutional investors (FIIs) remained in sell-off mode, offloading shares worth a net Rs 813.76 crore Tuesday, while domestic institutional investors (DIIs) bought equities to the tune of Rs 1,163.85 crore, provisional data showed. However, a positive opening in the local equities supported rupee.
The domestic currency opened at Rs 71.29 against the dollar and registered an intra-day high and low of 71.1850 and 71.34 respectively so far during the day. In the spot currency market, the Indian unit was last seen trading at 71.25. The rupee had closed at 71.34 versus the greenback Monday. Money markets were closed Tuesday on account of Chhatrapati Shivaji Jayanti.
Domestic equity indices were trading near day's high in morning trade. At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 217.34 points or 0.61% at 35,569.95. The Nifty 50 index was up 69.65 points or 0.66% at 10,674.
Overseas, Asian shares traded higher on Wednesday after US-China trade talks resumed. Investors also awaited the release later on Wednesday of minutes from the US Federal Reserve's January policy-setting meeting, where policymakers took a dovish turn, effectively signaling no further rate hikes.
US stock indices held steady above the break-even line after opening lower on Tuesday. US President Donald Trump reportedly said Tuesday that trade talks with China are going well, adding the current March deadline is not a "magical date." Both countries have until then to come up with a deal. Otherwise, additional US tariffs on Chinese products could take effect. Trump indicated last week, however, he would be willing to push back the deadline.
Meanwhile, the dollar was capped against its peers on Wednesday on falling U.S. yields and before the Federal Reserve's policy meeting minutes, though it managed to gain on the yen as stronger investor risk appetite curbed demand for the Japanese currency. The U.S. currency was up 0.2 percent at 110.83 yen. The dollar index versus a basket of six major currencies was a touch lower at 96.451 after shedding about 0.4 percent overnight.

NCDEX Chana futures have been witnessing a mixed movement though buying is prevelant at lower levels as some traders are worried that the latest spell of modest rains in major producing areas in northern states could hurt the standing crop. The harvesting is about to begin and overall sentiments are cautious. Spot prices in Bikaner have been in a range of Rs 4200-4100 per quintal in last couple of weeks. While the other pulses like moong and tur are witnessing modest demand, losses in Chana have been curbed on poor arrivals in major market at Delhi. The supplies have averaged around 10-12 trucks over last couple of weeks, limiting downside for prices. The benchmark NCDEX Chana futures for March are currently trading at Rs 4250 per quintal, down 0.56% on the day. The counter tested a low of Rs 4233 per quintal earlier in the session

Mining major BHP stated in a latest update that Copper prices ranged from $5,823/t to $6,595/t ($2.64/lb to $3.00/lb) over the second half of the calendar year, averaging $6,139/t ($2.78/lb)8. Prices never recovered from the shock of the US–China trade confrontation, which escalated in early June and helped push copper down from well above $7000/t to less than $6000/t over the course of July and early August.The company assesses that forward looking fundamentals for calendar 2019 support an approximate trading range of $6000/t to $6,500/t, based on an average rate of disruption to primary supply (i.e. an outcome closer to the historical 5 per cent loss, up from the preliminary estimate of around 3 per cent in calendar 2018). A durable peace on the trade front would provide upside to that range. Without a visible reduction in trade uncertainty, the likelihood of the price being anchored in the bottom half of the range is high.
Chinese end–use demand has been solid, but on a somewhat narrower base than in calendar year 2017. Demand growth from the rest of the world was softer than anticipated, particularly in the second half of the calendar year. Housing starts in the United States, which had been strong, have weakened noticeably, although business investment remains solid. Upstream electronics demand growth has decelerated, with global semiconductor sales growth down from a pace in excess of 20 per cent at the end of calendar year 2017 to the mid–single digits at the end of calendar 2018. Auto sales weakened noticeably in the second half of the calendar year, with the United States, Europe, Japan and Brazil all experiencing negative momentum. Purchasing managers’ index readings in Europe and developed Asia presaged this softening, having peaked in the March quarter of calendar 2018.
Turning to supply, along with the Chinese ban on the import of low grade copper scrap, expectations of impending disruptions to primary supply gave a bullish tone to market commentary a year ago. The reality turned out to be the reverse. Rather than being a year marked by above average disruptions, the loss of primary supply was only around 3 per cent, versus the historical average of 5 per cent (the average being equivalent to around –1000 kt). A major factor in this performance was that the majority of labour negotiations in South America were concluded relatively amicably and in basically timely fashion.
The global copper market is expected to remain roughly balanced for the next few years. Solid demand growth is expected to be matched with a combination of committed green and brownfield supply, restarts and rising scrap availability. Even so, the market looks to be finely, rather than comfortably balanced over this period, and it will be vulnerable to supply shocks throughout this phase, particularly in the concentrate segment.

COMEX Gold jumped sharply today, extending the recent gains as global equities saw a choppy pattern as traders remained focused on the US-China trade talks. Weak corporate earnings in Europe hurt the risk sentiments somewhat. Gold market eyed the drop in global Initial Coin Offering (ICO) market. Investment in startups conducting ICOs has decreased from $5.8 billion in March 2018 to $291 million in January 2019, recording a 95% fall, according to a new study by crypto analytics platform Coinschedule, noted media reports today. COMEX Gold futures hit a fresh eight month high, breaking above $1330 per ounce and currently trade at $1334 per ounce, up 0.90% on the day. MCX Gold futures are trading at Rs 33732 per 10 grams, up 0.37% on the day.
An escalation in the geopolitical tensions following the last week’s Pulawama attack is also keeping local Gold elevated as prices are approaching record highs in major spot markets. The retail demand is steady ahead of the wedding season. Domestic retail Gold market has been in a good shape following the populist Interim Budget with a clear focus on increasing incomes and boosting consumption.

Key benchmark indices hovered in a small range in negative zone in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, was down 66.09 points or 0.18% at 35,832.26. The Nifty 50 index was down 15.10 points or 0.14% at 10,774.75
The indices opened lower, but bounced back in morning trade. The recovery was short lived as indices slipped once again in mid-morning trade. Investors' sentiment was fragile due to negative global cues.
Broader market was trading higher. Among secondary barometers, the BSE Mid-Cap index was up 0.22%. The BSE Small-Cap index was up 0.65%.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1,480 shares rose and 783 shares fell. A total of 137 shares were unchanged.
Yes Bank (up 2.81%), Vedanta (up 2.4%), M&M (up 1.93%), Maruti Suzuki India (up 1.6%) and ONGC (up 1.5%) edged higher from the Sensex pack.
Kotak Mahindra Bank (down 3.38%), Reliance Industries (down 1.48%), HDFC Bank (down 0.86%), Bajaj Finance (down 0.48%) and ITC (down 0.47%) edged lower from the Sensex pack.
Tata Steel shed 0.06%. The company informed that the meeting of the board of directors of the company is scheduled on 26 February 2019, inter alia, to consider and approve the issuance of unsecured Non-Convertible Debentures on private placement basis. The announcement was made after market hours yesterday, 21 February 2019.
Dr Reddy's Laboratories rose 1.92% after the company said that the audit of its formulations Shrevepmi plant, Louisiana, USA, by the US FDA, has been completed with zero observations. The announcement was made during market hours today, 22 February 2019.
Meanwhile, the Reserve Bank of India (RBI) on Thursday released the minutes of the Monetary Policy Committee's meeting held on February 5-7. Governor Shaktikanta Das has said that the neutral stance of the central bank will provide flexibility and the room to address challenges to sustained growth of the Indian economy over the coming months, as long as the inflation outlook remains benign.
In his statement, Das said that global growth was losing traction amidst lingering trade tensions and uncertainty around Brexit. On the positive side, crude oil prices remain soft, though the benefit for net exports could be restricted due to slowing global demand. GDP growth for 2019-20 is projected at 7.4% – in the range of 7.2-7.4% in H1, and 7.5% in Q3 – with risks evenly balanced.
Das noted that the CPI inflation print of December at 2.2% continued to surprise on the downside. The RBI Governor also believed that the outlook for food inflation was expected to be benign in the backdrop of excess domestic supply conditions in many food items. CPI inflation is projected at below 4% in the remaining four quarters – 2.8% in Q4:2018-19, 3.2-3.4% in H1:2019-20 and 3.9% in Q3:2019-20 – with risks broadly balanced.
Overseas, Asian shares were mixed, following a negative closing in the US stocks after the release of a stream of disappointing global economic data on Thursday. Investors continue to closely watch high-level talks between US and Chinese trade negotiators in Washington, with little more than a week left before a US-imposed deadline for an agreement expires, triggering higher tariffs.
US stocks finished lower Thursday as fresh economic data out of Europe and Japan suggest further slowing in global growth. Concerns about slowing global growth were underscored by the release of surveys from Europe and Japan that showed manufacturing contracting in February, with export-dependent German manufacturers reporting the worst drop in activity in more than six years.
In US, December's durable goods data showed a surprise slowdown in business spending. The Philadelphia Fed manufacturing survey fell to minus 4.1, the first negative number since May 2016 and the biggest drop since August 2011. Markit PMI data also showed manufacturing activity at the slowest pace in 17 months.

       COPPER: -850 MT

       ZINC: -1850 MT

       LEAD: -1025 MT

       NICKLE: -1194 MT

       ALUMINIUM: -13575 MT

LME Cancelled Warrants

       COPPER: -[0.05]

       ZINC: -[0.18]

       LEAD: -[]

       NICKLE: -[0.08]