Indian Indices:
Indian shares are likely to witness a flattish start on Monday morning as the global markets look muted with SGX Nifty trading 2.50 points higher @10037.50.Benchmark indices are likely to open flat following the global peers following mixed ending for Wall Street on Friday amid geopolitical tensions in the Korean peninsula and rising oil prices. The Street might get a boost on rate cut optimism ahead of the Monetary policy meet, which will start tomorrow.
Markets will also keep an eye at corporate earnings for the day. 92 companies on the BSE will declare their Q1 results later today including Balrampur Chini, Bharat Electronics, Interglobe Aviation, Jaypee Infratech, Jaiprakash Ventures, Reliance Power and Siemens among others.
Equity benchmarks started off the week on a positive note, with the Nifty holding 10,000-mark. Investors awaited the decision of two-day monetary policy committee meeting that will begin on Tuesday .L&T was top gainer among Sensex stocks, up 2.2 percent followed by Lupin, ICICI Bank, Vedanta, Kotak Mahindra Bank with moderate gains. HDFC rebounded after initial fall. Sarda Energy, Coromandel, Capital First and Cholamandalam Finance gained
up to 5 percent. Central Bank of India, Dena Bank, Equitas Holdings, Oberoi Realty and Kitex Garments fell up to 5 percent.
The 30-share BSE Sensex was up 45.59 points at 32,355.47 and the 50-share NSE Nifty rose 10.05 points to 10,024.55. About two shares advanced for every share falling on the BSE.
Global Market:
Asian shares dipped on Monday following a lackluster end to last week globally on some earnings disappointments, while the dollar edged up but remained capped by US political uncertainty.
Investors stuck to perceived havens such as the Japanese yen and gold after North Korea conducted another missile test late on Friday that it said proved its ability to strike the US mainland.
The dollar struggled on Monday, wallowing near a 2-1/2-year low against the euro, weighed down by U.S. political uncertainty and uninspiring U.S. data that added to doubts about whether there will be another Federal Reserve rate hike this year.
Major Headlines of the day:
• Marico-South Africa Unit acquires business of ISOPLUS, a hair styling brand for Rs 36 crore, Acquisition includes intellectual property rights of ISOPLUS
• Reliance Capital-Sunil Singhania, Current CIO - Equities at company, elevated to the position of Global Head Of Equities, Manish Gunwani to join Reliance MF as chief investment officer-equity
• Lupin says-Pithampur unit inspection concluded by US FDA without any observations, Pithampur unit inspection started on July 24 & concluded on July 28.
Trend in FII flows: The FIIs were net buyers of Rs -223.12 the cash segment on Friday while the DIIs were net sellers of Rs 424.67 as per the provisional figures.
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