Indian shares are likely to open on a positive note, tracking ease in strong CPI and RIL nos, also SGX Nifty is trading 36.00 points higher.
Events for the day:
Wholesale Price Inflation numbers to be announced
Results: Bajaj Auto, Bajaj Finance, Bajaj Fi nserv
Headlines for the day:
RIL Q2 net almost flat at Rs 5,972 cr
Sebi bars DLF’s top six execs from securities markets for 3 yrs
IL&FS mulling $ 1 billion clean tech fund for India
Markets are likely to open marginally higher after data showed that September consumer price inflation eased to its lowest level since January 2012 and better-than-expected second quarter earnings from Reliance Industries.
Indian shares gained on Monday, as stocks of blue-chip companies recovered from recent losses, tracking positive cues from the European markets, while technology shares rose for a second day. The BSE Se nsex and the CNX Nifty ended 0.33%-0.31% higher.
Reliance Industries Ltd , a conglomerate that operates the world’s biggest refinery, reported a rise in profits that beat forecasts, helped by stronger refining margins, and said it would invest up to $ 9 billion in the next two quarters.
The rate of retail inflation in September eased to 6.46% — the lowest since the series was launched in January 2012 — driven mainly by a significant drop in food prices and subdued demand for industrial goods. The rate, as measured by the consumer price index (CPI), had stood at 7.73% in August and 9.84% in September last year.
On Monday (October 13, 2014), the S&P BSE Se nsex ended up 86 points at 26,384 and the 50-share Nifty ended up 24 points at 7,884.
A selloff in global equities sent Japanese stocks skidding to two-month lows on Tuesday as heightened concerns about the health of the world economy unnerved investors, triggering a shift in funds to safe-havens such as U.S. bonds.
The S&P 500 dropped more than 1 percent and posted its worst three-day slide since November 2011 on Monday following worries that global economic weakness will dampen U.S. earnings, along with concern about the spread of Ebola.
European stocks held steady on Monday, breaking a three-week slide as shares in airlines rebounded on cheaper oil prices that lower their operating costs.