Wednesday 29 July 2015

Sensex Edges Higher, Nifty Hovers Around 8,350

9:15 a.m.: Sensex jumps over 100 points on higher Asian markets, Nifty moves above 8,350.

9:12 a.m.: Market expert Rajat Bose says that for a meaningful rally in the markets Nifty has to sustains above 8,413 levels.

9:08 a.m.: The Sensex jumps 81 points to 27,540 and Nifty advances 27 points to 8,364 in the pre-market session.

9:00 a.m.: Rupee opens higher at 63.87 per dollar against Tuesday's close of 63.91.

8:45 a.m.: PVR: PVR has planned to install Dolby Atmos in 50 screens in India and also plans to open 150 low cost screens.

Amtek Auto: Amtek Auto plans to raise funds via issue of equity and NCD's.

J Kumar Infra: J Kumar Infra bagged a construction orders worth Rs 281 crore.

8:35 a.m.: Biocon's clinical research arm Syngene's IPO was fully subscribed on its second day.

8:25 a.m.: Here's what analysts polled by NDTV expect from the companies reporting their quarterly numbers today:

Yes Bank: Analysts expect Yes Bank to post net interest income of Rs 1,030 crore compared to Rs 745 crore during the same quarter last year. Net profit is expected to come in at Rs 548 crore versus Rs 439 crore (YOY). Loan growth is expected to be above industry average at 30 per cent and net interest margins are expected to improve marginally.

Analysts say that von-interest income growth is expected to be 23 per cent year on year and deposit growth is expected at 24. per cent.

Vedanta: Net sales of Vedanta are expected to come in at Rs 17,512 crore compared to Rs 17,732 crore in the previous quarter. Net profit is expected to come in at Rs 743 crore compared to Rs 491 crore in previous quarter.

JSW Steel: JSW Steel is expected to post net profit of Rs 134 crore compared to Rs 188 crore in the previous quarter. Its EBITDA is expected to come in at Rs 1,471 crore compared to Rs 1,673 crore sequentially.

Nestle: Nestle will come out with its second quarter numbers. Nestle's sales are expected to come in at Rs 2,340 crore versus Rs 2,418 crore during the same quarter last year. Its net profit is expected to come in at Rs 385 crore compared to Rs 500 crore during the June quarter of last year.

8:00 a.m.: Foreign institutional investors sold shares worth Rs 1,375 crore on Tuesday while the domestic institutional investors purchased shares worth Rs 665 crore.

In the derivative segment, the FIIs sold index futures worth Rs 120 crore and also sold stock futures worth Rs 407 crore.

7:50 a.m.: The Sensex and Nifty are likely to open on a flat note in trades today tracking subdued trading of Nifty futures on the Singapore Stock Exchange. The Nifty traded on the Singapore Exchange also known as the SGX Nifty was down 0.1 per cent or 8 points at 8,336.

Meanwhile, other Asian markets were trading were trading on a subdued note. Hang Seng was up 0.1 per cent, Shanghai Composite was down 0.4 per cent, Shanghai Shenzen index fell 0.7 per cent and Nikkei was down 0.6 per cent.

Overnight, U.S. stocks ended sharply higher on Tuesday, breaking a five-day losing streak as attention shifted from trouble in Chinese equities to U.S. corporate earnings and to speculation the first Federal Reserve interest rate hike may not come until December.

The Dow Jones industrial average rose 1.09 per cent, to end the session at 17,630.27. The S&P 500 gained 1.24 per cent to 2,093.25 and the Nasdaq Composite added 0.98 per cent to finish at 5,089.21.

Back home, analysts say that there could be some volatility in the markets due to expiry of derivative contracts which is due tomorrow.

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