Indian equities to open higher amidst strong global cues

Indian Indices:                             SGX Nifty is currently trading in the green up 32 points at 10,762. Indian equities could continue to gain traction as global indices trade with a positive bias. All eyes will be on HDFC Ltd and Kotak Bank as traders await the quarterly earnings. Markets could trade with a positive bias as oil weakens. SGX Nifty is indicating a gap-up opening.

Global Market:

·       Major Asian markets like Nikkei and Shanghai Composite are closed today, while Hang Seng is up 1.5%.

·       US Markets: Markets ended on a flat note as inflation worries weighed in. The Dow Jones was down 0.05% to 24,312 while the Nasdaq ended marginally higher, gaining 0.02% to close at 7,120.

·       European markets ended higher with FTSE closing 1% higher, CAC was up 0.54% while the DAX ended 0.6% higher.

Major Headlines of the day:

·        Dilip Buildcon executed concession agreement with NHAI

·        Idea Cellular Q2 net loss at Rs 962.2 crore and revenue at Rs 6,137.3 crore

·        RBL Bank Q4 net Profit at Rs 178.12 crore against Rs 130.13 crore, YoY

·        Equitas Holdings Q4 net profit at Rs 34.88 crore versus Rs 6.9 cr, YoY

·        IDFC Q4 net profit at Rs 1.56 crore versus Rs 134.8 crore, YoY

·        Shoppers Stop Q4 net profit at Rs 20.78 crore against loss of Rs 36 crore, YoY

·        Interglobe Aviation accepted resignation of Aditya Ghosh as the President and Whole Time Director of the company

·        Jagran Prakashan approves buyback of upto Rs 292.5 crore at Rs 195 per share

·        Greenply Industries commenced commercial production of Decorative Plywood / Decorative Veneers at Gujarat unit

Trend in FII flows: The FIIs were Net Value of Rs  759.21 the cash segment FRIDAY while the DIIs were Net Value of Rs 633.71 as per the provisional figures.

TODAY ON EARNING FRONT:- CANFINHOME, IDEA CELLULAR, SHRRECEM, SREIINFRA, CEAT, DHFL, HDFC, HINDZINC, KOTAKBANK, KPR  

                                                                  MILL,OPTO CIRCUIT.

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