Pre-Session –Market seen opening higher; RIL, Kotak Mahindra Bank eyed
21/07/2014 08:27
Tracking positive trend seen in SGX Nifty couple with gains in Asian market, the domestic equity market is likely to open on a positive note on Monday. Asian stocks rebounded as better-than-expected earnings by US companies shrugged off concerns of geo-political tension which was escalated after downing of a passenger jet in Ukraine and Israel’s invasion of Gaza. On the global front, Wall Street ended higher on Friday on the back of some fresh merger news and strong corporate earnings report. Back home, investors will keep an eye on Reliance Industries which reported high-than-expected earnings by posting 13.7 per cent rise in quarterly net profit. Among others, Kotak Mahindra Bank will also remain on focus as the lender has entered into a pact to acquire 15 per cent equity stake in Multi Commodity Exchange of India Ltd, from Financial Technologies (India) Ltd., for Rs 459 crore.
On Wednesday, the Indian benchmark indices ended higher for fourth straight day as gains in information technology stocks, led by TCS, Mindtree, HCL, Wipro and M&M, discounted concerns over the downing of an airliner in Ukraine. The investors bet on IT stocks after country’s largest software exporter TCS reported higher-than-expected earnings for the first quarter ended June, raising outlook for the sector. On the global front, Asian markets ended lower on Friday as news of downing of Malaysian passenger jet in Ukraine spooked investors, sparking renewed geo-political tensions between Russia and Ukraine
21/07/2014 08:27
Tracking positive trend seen in SGX Nifty couple with gains in Asian market, the domestic equity market is likely to open on a positive note on Monday. Asian stocks rebounded as better-than-expected earnings by US companies shrugged off concerns of geo-political tension which was escalated after downing of a passenger jet in Ukraine and Israel’s invasion of Gaza. On the global front, Wall Street ended higher on Friday on the back of some fresh merger news and strong corporate earnings report. Back home, investors will keep an eye on Reliance Industries which reported high-than-expected earnings by posting 13.7 per cent rise in quarterly net profit. Among others, Kotak Mahindra Bank will also remain on focus as the lender has entered into a pact to acquire 15 per cent equity stake in Multi Commodity Exchange of India Ltd, from Financial Technologies (India) Ltd., for Rs 459 crore.
On Wednesday, the Indian benchmark indices ended higher for fourth straight day as gains in information technology stocks, led by TCS, Mindtree, HCL, Wipro and M&M, discounted concerns over the downing of an airliner in Ukraine. The investors bet on IT stocks after country’s largest software exporter TCS reported higher-than-expected earnings for the first quarter ended June, raising outlook for the sector. On the global front, Asian markets ended lower on Friday as news of downing of Malaysian passenger jet in Ukraine spooked investors, sparking renewed geo-political tensions between Russia and Ukraine
