Pre Session: Market may see flat to higher opening
20/07/2015
The Indian equities is likely to see flat to higher opening on Monday, tracking firm cues from Asian peer, amid easing worries over Greece’s finances. In a fresh development in Greece, banks are ready to open their branches across the country on Monday, after a three-week shutdown, as Greek Prime Minister Alexis Tsipras agreed to negotiate a third bailout, allowing the European Central Bank to top up bank credit lines. Hopes of another interest rate cut by the RBI and falling oil prices may further inject optimism in the market. The investors will also keep an eye on corporate earnings result with index heavyweights such as Infosys, HDFC Bank, Hindustan Unilever, Idea Cellular, Bajaj, RIL and Wipro scheduled to announce their earnings this week. On the global front, Asian peers stocks were trading flat after a cautious opening as investors looked ahead to higher interest rates from the Federal Reserve. The regional indices witnessed lackluster trade with Japan on holiday and a lack of major data in the diary, leading to a cautious start for stocks. Meanwhile, China’s Shanghai Composite and Hong Kong’s market were trading higher. In the overnight trade, US stocks ended mostly higher buoyed by the robust corporate earnings report from Google and banking giant Citigroup and Goldman Sachs. Back home, firm trading at Nifty India stock futures in Singapore further indicates a positive opening on the domestic market.
On Friday, the Indian benchmark indices closed on a positive note in the midst of range bound trade as gains in IT shares helped offset losses in select blue chip shares with HDFC losing the most. Meanwhile, losses in private banking shares after government decided to keep banks out of the composite foreign investment offset the gains in technology and healthcare stocks.
20/07/2015
The Indian equities is likely to see flat to higher opening on Monday, tracking firm cues from Asian peer, amid easing worries over Greece’s finances. In a fresh development in Greece, banks are ready to open their branches across the country on Monday, after a three-week shutdown, as Greek Prime Minister Alexis Tsipras agreed to negotiate a third bailout, allowing the European Central Bank to top up bank credit lines. Hopes of another interest rate cut by the RBI and falling oil prices may further inject optimism in the market. The investors will also keep an eye on corporate earnings result with index heavyweights such as Infosys, HDFC Bank, Hindustan Unilever, Idea Cellular, Bajaj, RIL and Wipro scheduled to announce their earnings this week. On the global front, Asian peers stocks were trading flat after a cautious opening as investors looked ahead to higher interest rates from the Federal Reserve. The regional indices witnessed lackluster trade with Japan on holiday and a lack of major data in the diary, leading to a cautious start for stocks. Meanwhile, China’s Shanghai Composite and Hong Kong’s market were trading higher. In the overnight trade, US stocks ended mostly higher buoyed by the robust corporate earnings report from Google and banking giant Citigroup and Goldman Sachs. Back home, firm trading at Nifty India stock futures in Singapore further indicates a positive opening on the domestic market.
On Friday, the Indian benchmark indices closed on a positive note in the midst of range bound trade as gains in IT shares helped offset losses in select blue chip shares with HDFC losing the most. Meanwhile, losses in private banking shares after government decided to keep banks out of the composite foreign investment offset the gains in technology and healthcare stocks.
