Thursday 30 July 2015

Sensex Likely to Open Higher on Positive Global Cues

9:00 a.m.: Rupee opens lower at 63.96 per dollar against Wednesday's close of 63.91.

8:45 a.m.: Infra companies will be in limelight today as the Cabinet on Wednesday approved creation of a Rs 20,000-crore National Investment and Infrastructure Fund (NIIF), a sort of sovereign fund, for development of infrastructure projects, including the stalled ones.

8:30 a.m.: Below are the stocks which will be in focus today:

Nestle: Nestle came out with its first quarter numbers post the market hours on Wednesday. Nestle posted loss of Rs 64.4 crore compared to profit of Rs 287.8 crore, its sales fell to Rs 1,957 crore compared to Rs 2,432 crore during the same quarter last year.

NHPC: NHPC reported net profit of Rs 762.2 crore compared to Rs 616 crore (YoY).

Wabco India: Wabco India posted good set of first quarter numbers. Wabco's revenues came in at Rs 385 crore compared to Rs 323 crore. Its net profit rose 55 per cent to Rs 47.5 crore.

Blue Dart: Blue Dart's net profit jumped 35 per cent to Rs 46 crore and its sales advanced 17.6 per cent to Rs 620 crore.

8:15 a.m.: On the policy front, the cabinet on Wednesday cleared the amendments to the Goods and Services Tax Bill to compensate states for revenue loss for five years.

8:10 a.m.: Foreign institutional investors sold shares worth Rs 186.24 crore on Thursday while the domestic institutional investors purchased shares worth Rs 642.69 crore.

8:00 a.m.: Derivative contracts for the month of July will expire today. Analysts say that there could be some volatility in the markets due to the expiration of July futures and options contracts.

7:50 a.m.: The Sensex and Nifty are likely to open higher tracking positive global cues. The SGX Nifty was also indicating a positive start for the Indian markets. The Nifty futures contract traded on the Singapore Stock Exchange was up 0.2 per cent or 15 points at 8,395.

Meanwhile, the Asian markets were trading with a positive bias after U.S. Federal Reserve said it saw the economy and jobs continuing to strengthen, helping lift the dollar as traders bet that higher U.S. interest rates were around the corner.

FOMC's brief policy statement, at the end of a two-day meeting, gave no fresh sign of their thinking on when they will embark on an expected series of rate increases.

Reacting to this development, Japan's Nikkei advanced 1.4 per cent, Hong Kong's Hang Seng jumped 0.7 per cent and Shanghai Composite was up 0.2 per cent.

Overnight, the US stocks finished stronger on Wednesday after the Federal Reserve said the economy and job market continued to strengthen and left its key interest rate unchanged.

The Dow Jones industrial average rose 0.69 per cent to end at 17,751.39. The S&P 500 gained 0.73 per cent to 2,108.57 and the Nasdaq Composite added 0.44 per cent to finish at 5,111.73.

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