Indian stock markets are likely to open higher as optimism continues on better-than-expected second-quarter earnings.
Indian stock markets are likely to open higher as optimism continues on better-than-expected second-quarter earnings. The early indicator of NSE Nifty — SGX Nifty Futures — was trading little changed, up 0.21% at 10,396 points on the Singapore Stock Exchange. The bluechip shares such as ICICI Bank, Indian Oil Corporation, ITC, Maruti Suzuki India will be in close watch ahead of their Q2 results today. Other major companies which are also lined up with their second-quarter earnings are Aditya Birla Fashion And Retail, AU Small Finance Bank, Canara Bank, Heidelbergcement India, J&K Bank, Jubilant Industries, Kaveri Seed Company, Linde India, Munjal Showa, Navin Fluorine International, PVR, Sun Pharma Advanced Research Company, Srikalahasthi Pipes, Sundaram Finance, Tata Metalik.
These stocks will be in focus today
Crompton Greaves Consumer Electricals: Crompton Greaves Consumer Electricals reported a 23.28 per cent increase in its net profit to Rs 70.80 crore for the second quarter ended September 30, 2017.
Biocon: Bio-pharmaceutical firm Biocon reported a 53.10 per cent dip in its consolidated net, profit to Rs 68.8 crore for the quarter ended 30 September.
Yes Bank: The fifth-largest private sector lender Yes Bank reported a 25 per cent rise in the net profit to Rs 1,002 crore, but reported a massive increase in bad loans with the Reserve Bank finding it to have under-reported NPAs in the last fiscal by Rs 6,355 crore. The bank’s non-performing assets (NPA) ratio more than doubled to 1.82 per cent of total loans, wrecked by
the RBI’s risk-based supervision (RBS) finding a divergence or under-reporting of Rs 6,355 crore of assets which should have been classified as NPA.
Mphasis: IT firm Mphasis consolidated net profit declined 4.4 per cent to Rs 197.7 crore (after exceptional item) for the quarter ended September 30, 2017.
L&T Finance Holdings: L&T Finance Holdings said its consolidated profit increased to Rs 360 crore for quarter ended September 2017, registering a growth of 45 per cent year-on-year.
United Spirits: Liquor major United Spirits reported an 85.57 per cent increase in its net profit at Rs 153.1 crore for the quarter ended September 30, helped by lower interest costs and exceptional items.
Shoppers Stop: Retail chain Shoppers Stop reported a standalone net loss of Rs 21.80 crore for the second quarter ended September 30 on account of lower sales and exceptional loss.
Indian rupee on Thursday: The rupee gained 7 paise to end at an over one-week high of 64.82.
Indian markets on Thursday
Indian stock markets hit yet another record high on Thursday on the F&O expiry day. Domestic markets which started on a weaker note today spiked to fresh lifetime highs after trading lower till the mid-morning trade. BSE Sensex gained as much as 153.67 points to hit the all-time high of 33,196.17 points while NSE Nifty added 60.3 points to mark the record high at 10,355.65 points. A sudden rally in the shares of oil marketing companies such as Indian Oil Corporation, Hindustan Petroleum Corporation, Bharat Petroleum Corporation steered Nifty 50 to breach the previous record highs. The benchmark Sensex ended 104.63 points higher at 33,147.13 whereas the broader Nifty 50 settled 48.45 points higher at 10,343.8.
US markets on Thursday
The Dow and S&P 500 advanced on Thursday after a round of positive corporate earnings announcements, but gains were curbed and the Nasdaq lost ground on a drop in the healthcare sector, Reuters reported. The Dow Jones Industrial Average rose 71.61 points, or 0.31 percent, to 23,401.07, the S&P 500 gained 3.26 points, or 0.13 percent, to 2,560.41 and the Nasdaq Composite dropped 7.12 points, or 0.11 percent, to 6,556.77.