Bulls may ring opening bell on global support

Indian shares are likely to open on a positive note as the global cues look supportive with SGX Nifty trading 41.00 points lower.

Events for the day:

Coal India Offer for sale opens today

Results on January 30, 2015

ICICI Bank, BoB, Andhra Bank, HCL Technologies, Tech Mahindra, Siemens, Dabur India, Berger Paints, Tata Global, Monsanto India, IFCI, Adani Enterprises, JSW Steel, Thermax, NTPC, Engineers India, PVR, SPARC, eClerx Services

Headlines for the day:

  • HCL Tech Q2 net up 2.3% q-o-q at Rs1,915 crore
  • Welspun India’s Q3 net up 31% in Q3
  • Trent Q3 profit declines 32% to Rs16 cr

Indian Indices:

Indian shares are likely to open on a positive note as the global cues look supportive with SGX Nifty trading 41.00 points lower.

India’s NSE index gained 0.4 percent, rising for a tenth consecutive session, its longest winning streak since September 2007, as shares of capital goods firms rose ahead of the fiscal budget next month and oil retailers benefited from a slump in crude prices. The S&P BSE Sensex and CNX Nifty ended 0.41%-0.43% higher each.

On Thursday (January 29, 2014), the S&P BSE Sensex ended up 123 points at 29,682 and the 50-share Nifty gained for the 10th straight session to end at 8,952. A similar 10-day rally was seen in the Nifty from March 21, 2014 to April 02, 2014.

Global Indices:

Asian shares got off to a lacklustre start on Friday, as a late earnings-led surge on Wall Street was tempered by ongoing concerns about global growth.

U.S. stocks enjoyed a late afternoon rally and closed higher on Thursday as an upturn in oil prices and a rally in Apple and Boeing shares helped offset some disappointing earnings and lingering questions over U.S. monetary policy.

Weak corporate updates pegged back European shares on Thursday, as the effects of a rout in oil prices knocked back heavyweight energy firms.

SGX Nifty

sgxnifty.org@imediaone.com

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