Indian Indices:
Indian markets are poised to witness a bullish opening tracking a positive trend across markets in Asia as strong US jobs data signaled a pickup in the recovery in the world’s biggest economy, bolstering risk taking appetite. SGX Nifty is trading at 58.00 points higher.
Hero MotoCorp, Idea Cellular, Adani Ports and Special Economic Zone, Lupin, Mahindra & Mahindra and Hindalco Industries are among the major firms which will announce their April-June 2016 quarter results this week.
Indian shares rose 1%, tracking higher Asian markets after the Bank of England launched a larger-than-expected stimulus package, though the indexes were headed for flat to lower for the week. The S&P BSE Sensex and CNX Nifty rose 1.31%-1.54% each.
Global Market:
Asia markets traded mostly higher on Monday, with Japanese shares leading gains, as sentiment was likely underpinned by a stronger-than-expected U.S. jobs report released Friday.
Stocks and the dollar jumped on Friday on strong US employment data that boosted expectations of an acceleration in economic growth and raised the probability of a Federal Reserve interest rate hike this year.
European shares rose on Friday, helped by solid earnings from companies including cement making group LafargeHolcim, but Royal Bank of Scotland slumped after weak results.
Major Headlines of the day:
• Essar Oil to invest Rs1200 cr in Vadinar refinery
• Oil India to raise $500-mn loan to finance Rosneft deal
• Dr Reddy's gets nod to export 15 drugs to EU
Trend in FII flows: The FIIs were net buyers of Rs 435.63 Cr in the cash segment on Friday while the DIIs were net buyers of Rs 616.32 Cr, as per the provisional figures.
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Commodity Market Tips
Hero MotoCorp, Idea Cellular, Adani Ports and Special Economic Zone, Lupin, Mahindra & Mahindra and Hindalco Industries are likley to announce there quaterly results soon. Later traders can decide whether to invest in these stocks or not. Get best stock tips by joining epic research.
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