Domestic equity markets ended higher on Tuesday on account of global cues and positive corporate earnings. Sentiments also got a boost from Reserve Bank of India’s Annual report that indicated the near-term growth outlook for India seems brighter than last fiscal and the economy is likely to expand at 7.6 per cent in 2016-17. The BSE Sensex zoomed 440.35 points to close at 28343.01, while the NSE Nifty gained 136.90 points or 1.59 per cent to settle at 8,744.35 to hit its 16 month high.
Below are five things you should know before market opens on Wednesday
1) SGX Nifty was trading 10 points down at 8795, indicating a weak start of domestic equity markets.
2) Asian peers were mixed in the morning trade, Hang Seng and Nikkei were trading in green, while Shanghai was marginally in red.
3) On Wall Street, Dow Jones Industrial Average Index closed 48.69 points down at 18454.30. Nasdaq settled 9.36 points down at 5222.99.
4) Earnings Today: MCX and Hathway Cable will announce their financial results on Wednesday for the quarter ended June 30, 2016.
5) Stocks in focus: Motilal Oswal Financial Services on Tuesday said it has acquired over 2.45 crore shares in subsidiary firm Aspire Home Finance Corporation (AHFCL) for about Rs 28 crore.
Cox & Kings Ltd has announced the financial results for the quarter ended June 30, 2016 on Tuesday. The company posted a net profit of Rs. 906.60 million for the quarter ended June 30, 2016 as compared to Rs.848.20 million for the quarter ended June 30, 2015. Total Income has increased from Rs.10010.90 million for the quarter ended June 30, 2015 to Rs. 12145.30 million for the quarter ended June 30, 2016.