Indian stock markets are likely to open higher on the back of Q3 earnings optimism as a number of blue-chip companies posted better-than-expected third-quarter results.
Indian stock markets are likely to open higher on the back of Q3 earnings optimism as a number of blue-chip companies posted better-than-expected third-quarter results. The early indicator of NSE Nifty, SGX Nifty Futures was trading up 0.38% at 11,009 on Singapore Stock Exchange. Shares of Indiabulls Housing Finance will be in a close watch as the housing financier is all set to announce its third-quarter earnings. Other major companies which are also lined up with their respective Q3 earnings are Force Motors, Indiabulls Real Estate, Alembic, Can Fin Homes, Crompton Greaves Consumer Electricals, PNB Housing Finance, Edelweiss Financial Services, L&T Technology Services, NIIT, RBL Bank Symphony, Syngene International, United Spirits, and Wabco India.
These shares will be in focus today
Just Dial: Just Dial reported a 4.2% jump in its standalone net profit to Rs 28.6 crore in December quarter of the current fiscal.
Rallis India: Agriculture solutions firm Rallis India posted a marginal drop in consolidated net profit at Rs 24.94 crore for the December quarter.
DHFL: Housing finance company DHFL reported 25% rise in its net profit to Rs 305.9 crore for the quarter ended 31 December 2017 and announced plans to raise up to $2 billions for business expansion.
Asian Paints: Asian Paints reported a 15.92% increase in its consolidated net profit at Rs567.21 crore for the quarter ended 31 December 2017.
Yes Bank: Mid-scale private sector lender Yes Bank is in the global debt market with a $300-million bond issue, as part of its USD 1-billion global medium-term note programme.
Indiabulls Ventures: Indiabulls Ventures has received capital markets regulator Sebi’s approval to raise Rs 2,000 crore by issuing equity shares to its existing shareholders on rights basis.
The Indian rupee on Monday
The Indian rupee reversed from the intraday low value to settle down 2 paise against the US dollar on Monday. The rupee neared 64 level after falling as much as 14 paise in the early trades against the US dollar. The rupee shed 5 paise in the opening session to start the day at 63.89 apiece US dollar. The domestic currency ended two paise down at 63.87 at the interbank foreign exchange market on Monday. The Reserve Bank of India fixed the reference rate of the rupee at 63.8895 against the US dollar on Monday. In the 5-day period of last week, the rupee had lost about 20 paise to 63.84 against the US dollar.
Indian stock markets on Monday
Indian stock markets extended the gains and closed higher on Monday with Sensex and Nifty finishing at fresh all-time highs led by the rise in heavyweight shares of TCS, RIL, Axis Bank, HDFC Bank, ONGC, Yes Bank and L&T. In the intraday trades, Sensex made a lifetime high of 35,827.7 while Nifty marked a fresh record high of 10,975.1. At closing, Sensex was just 2 points short of 34,800 while Nifty settled 34 points away from the psychological mark of 11,000. The domestic markets dipped in the late morning trade after starting the day at opening highs. Later in the afternoon session, at around 1:30 pm, headline indices ticked up quickly following the earnings booster from Axis Bank. BSE Sensex gained 286.43 points or 0.81% to end at 35,798.01 and NSE Nifty 71.5 points 0.66% to conclude at 10,966.2.
US stock markets on Monday
US stocks advanced on Monday as each of Wall Street’s main scored records in the wake of a deal by U.S. senators to end the federal government shutdown, Reuters said in a report. Legislation to renew federal funding to the government cleared a procedural hurdle in the Senate and was expected soon to pass votes in the Senate and House of Representatives, allowing the government to re-open through 8 February, Reuters added. The Dow Jones Industrial Average rose 142.88 points, or 0.55 percent, to 26,214.6, the S&P 500 gained 22.67 points, or 0.81 percent, to 2,832.97 and the Nasdaq Composite added 71.65 points, or 0.98 percent, to 7,408.03.