Home / Business / Money / Global mkts in green; Nifty likely to follow suit

Global mkts in green; Nifty likely to follow suit

Globally, the US markets ended marginally higher on upbeat economic data and strong earnings from Walmart. European market too ended in the green while Asian market is mixed in morning trade.

A day after the market ended the day flat with a negative bias, the Nifty is likely to open with a marginal positive bias with the SGX Nifty trading at 8400, up 17.50 points at 7:55.

Globally, the US markets ended marginally higher on upbeat economic data and strong earnings from Walmart. European market too ended in the green while Asian market is mixed in morning trade.

In other asset classes, crude prices plunged, with Brent Crude slipping to USD 77 per barrel on global growth concerns. Nymex too dropped to USD 74. Precious metal gold continues to trade flat at around USD 1160 an ounce.

In earnings corner, it was a mixed bag for Sun Pharma as Taro lead the growth but base business performance sees pullbacks due to increased competition in key prods in us mkt like. Cipla, meanwhile, disappointed with poor operating performance on back of muted sales growth and a sharp decline in exports.

And from the real estate space, DLF results came in marginally better-than-expected sale of super luxury project Camellias in Gurgaon helped earnings. However, sales bookings in H1FY15 have fallen drastically.

In key earnings today, from the auto space, Tata Motors may see a 7.5 percent revenue growth on a consolidated basis, profits may rise 26 percent. Jaguar Land Rover (JLR) volume growth has slowed to single digit.

TVS Motor, meanwhile, may see strong earnings this quarter led by new scooter Jupiter and 28 percent growth in exports.

And state lender- State Bank of India’s (SBI) net interest income, (NII) growth may be similar to previous quarters. The profits, however, may rise 30 percent on a low base.

Leave a Reply

x

Check Also

Rupee recovers 6 paise to 67.01

The rupee today recovered some lost ground by rising 6 paise to ...

Notes ban to have positive impact on economy

NEW DELHI: The government’s demonetisation move has led to widespread adoption of ...