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Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 24.50 points at the opening bell.

State-run power equipment major Bharat Heavy Electricals (Bhel) after trading hours on Thursday, 26 December 2013, said that the company has bagged an order for the supply of Turbine Generator (TG) Package for 2×500 MW TPS at Neyveli. The order valued at Rs 1023 crore has been secured by Bhel from Neyveli Lignite Corporation (NLC) for NLC’s upcoming 1,000 MW Neyveli New Thermal Power Project at Neyveli, Tamil Nadu. Bhel’s scope of work under the contract includes manufacture, supply, erection, testing and commissioning of Steam Turbine Generators Auxiliaries along with associated civil works.

Union Bank of India said after market hours on Thursday, 26 December 2013 that the Central Government has appointed Shri Arun Tiwari, Executive Director, Allahabad Bank, as Chairman and Managing Director of Union Bank of India, with effect from the date of his taking over charge of the post and upto 30 June 2017, i.e. the date of his superannuation or until further orders, whichever is earlier. Shri Arun Tiwari has taken charge as Chairman Managing Director of the bank on 26 December 2013.

AXIS Bank said after market hours on Thursday, 26 December 2013 that an agreement (MOU) with Karvy Computershare, Hyderbad to act as RTA of the bank for a further period of three years from 1 January 2014 has been renewed by the bank .

IT stocks may gain on positive economic data in US. US is the biggest outsourcing market for the Indian IT firms.

Trading in Apollo Hospitals Enterprise and Mahindra Mahindra Financial Services begins in the futures options (FO) segment of the National Stock Exchange (NSE) starting today, 27 December 2013. The FO lot size of Apollo Hospitals Enterprise has been set at 250, whereas the lot size of Mahindra Mahindra Financial Services has been fixed at 1,000.

Key benchmark indices eked out small gains after witnessing immense volatility during the last one hour of the trading session on Thursday, 26 December 2013 as traders rolled over positions in the futures options (FO) segment from the near month December 2013 series to January 2014 series. The December 2013 derivatives contracts expired on Thursday, 26 December 2013. The SP BSE Sensex garnered 41.88 points or 0.2% to settle at 21,074.59 on that day, its highest closing level since 23 December 2013.

Foreign institutional investors (FIIs) bought shares worth a net Rs 743.70 crore on Thursday, 26 December 2013, as per provisional data from the stock exchanges.

Asian stocks rose on Friday after falling US jobless claims bolstered confidence in the Federal Reserve’s decision to taper stimulus. Key benchmark indices in China, Hong Kong, Indonesia, Taiwan, South Korea and Singapore were up 0.12% to 1.01%. Japan’s Nikkei Avergae fell 0.32%.

Japan’s inflation accelerated to the fastest pace since 2008 last month, bringing the rate closer to policy makers’ target while threatening to erode household spending power unless employers boost wages. Prices excluding fresh food rose 1.2% from a year earlier, the statistics bureau said today in Tokyo.

US stocks extended all-time highs on Thursday as a drop in jobless claims fueled optimism in the economy. Fewer Americans than projected filed applications for unemployment benefits last week, indicating the US labor market is improving. Jobless claims declined by 42,000 to 338,000 in the week ended Dec. 21, a Labor Department report showed in Washington. US consumer confidence climbed last week to a four-month high as an improving job market and holiday discounts put Americans in the mood to shop.

The US Federal Reserve said after a two-day monetary policy review on 18 December 2013 that it will cut its monthly bond purchases to $75 billion from $85 billion starting in January 2014 amid an improved outlook for the job market in the world’s largest economy. The US central bank is poised to continue winding down its stimulus measures gradually over the next year.

President Barack Obama on Thursday signed a compromise budget that reduces the risk of another government shutdown and a defense bill that cracks down on sexual assault in the military and smooths the path for transferring detainees from the US prison in Guantanamo Bay, Cuba. The two-year US budget agreement, negotiated by Congress earlier this month, and the National Defense Authorization Act for fiscal 2104 were among seven pieces of legislation signed by Obama, who is vacationing with his family in Hawaii. The US Senate passed the budget deal on December 18 to ease automatic spending cuts and reduce the risk of a government shutdown. It was negotiated by Democratic Senator Patty Murray of Washington state and Paul Ryan, Republican from Wisconsin, who is chairman of the House Budget Committee. The Senate approved the annual defense policy bill on December 20, one of its final actions before leaving for the Christmas break. The act authorizes a Pentagon base budget of $526.8 billion in the 2014 fiscal year. That amount will have to be reconciled early in the new year with the $498 billion agreed to in the budget deal.

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