Wednesday, 18 February 2015

Market set to open higher on global cues

  The key domestic benchmarks may extend rally on Wednesday, tracking firm cues from global peers, as positive development on Greece deal is likely to boost investors sentiment. According to market  report, Greece and its creditors are moving toward a compromise. In the overnight trade, US stocks ended on positive note as ease in Euro-zone crisis and rebound in crude oil prices pushed stocks higher. Greece Prime Minister Alexis Tsipras on Wednesday may request an extension of its loan agreement for six months, as per market report.

Budget hopes may further provide cushion to the market as FM is likely to announce reformist measures to boost economy. On the corporate front, Tata Motors will be in focus as the company announced its global sales for January which was largely flat on the year-on-year basis. Among other, shares of telecom stocks, Bharti Airtel, Idea Cellular, Tata Teleservices, Reliance Communications and Reliance Jio will be in focus as the companies submitted their earnest money deposit (EMD) for the spectrum auction, slated to be held on March 4.

On the global front, Asian stocks were trading higher to a five month high on optimism over Greece deal after media report said that Greece and its creditors are moving toward a compromise. Japan's Nikkei 225 index was trading 0.70 per cent higher as the yen weaken against dollar, while Hong Kong's Hang Seng index was trading 0.13 per cent higher at 24,819.

On Monday, the Indian benchmarks closed on positive note with the BSE Sensex crossing 29,000 mark while NSE Nifty crosses 8,800 marks led by fast moving consumer goods companies in the midst of easing inflation.

Hero MotoCorp Ltd BSE -4.04 % slipped as much as 4.1 per cent in trade on Wednesday, after media reports suggested that controlling shareholders plans to sell $300 million worth of shares later in the day, according to a term sheet seen by Reuters

Suzlon EnergyBSE 19.39 %, M&M and SBI, have been outperformers on the back

SBI shares have surged 7% in the last four sessions after its earnings surprised markets

the 30-share index was at 29282.93, up 147points or 0.50per cent. It touched a high of 29299.62 and a low of 29126.91 in trade today.

The Nifty was at 8848 up 38.65 points or 0.44 per cent. It touched a high of 8851.55 and a low of 8808.90 in trade today.

The S&P BSE Midcap Index was up 0.40 per cent and BSE S&P Smallcap Index edged higher by 0.58 per cent.


Capitalstars Research updates said...

Jet Airways' euphoria on Tata deal ends.

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