The debt deal in Greece had brought cheer to Dalal Street on Monday, with the Sensex garnering almost 300 points or 1% to settle just short of the 28,000 mark at 27,961 and the Nifty surging past 8,400. One would have to wait and see if the recent momentum continues and catapults the Sensex beyond the 28,000 mark and the Nifty above 8,500.
At 8.20am, the SGX Nifty was flat at 8,485.
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On the economic front, the government is scheduled to release data inflation based on the wholesale price index (WPI) for June 2015 this afternoon. The WPI inflation stood at negative 2.4% in May 2015, compared with a negative 2.65% in April 2015. On the results front, DCB Bank and NIIT Technologies will announce their Q1 numbers during the day.
GLOBAL MARKETS
Asian shares were mixed this morning following the deals in Greece and Iran.
The Hang Seng Index eased 0.4% and South Korea's benchmark index erased gains after touched a one-week peak in early trade due to losses among large-cap stocks.
The Nikkei index hit a one-week high, rising for a second session, and Singapore stocks added 0.5% following the release of weak second-quarter gross-domestic product estimates.
Overnight, US stocks closed more than 1% higher in light volume trade on news of a bailout agreement between Greece and its creditors. Both the Dow and Nasdaq closed above their 50-day moving averages for the first time since June. The Dow Jones rose 217 points, or 1.2% to end at 17,977 and Nasdaq Composite added 73 points, or 1.4% to 5,071.
STOCKS TO WATCH
GMR Infrastructure may see action as GMR-Megawide is reportedly in the race to acquire operations of five airports worth USD 2.4 billion in Philippines under the PPP model.
Jet Airways is likely to be in the limelight after scaling up its daily seat deployment on the domestic network by 1,000 seats with the addition of new services to provide an enhanced connectivity within the country
JSW Steel is set to garner investor interest as it produced 3.40 million tonnes (MT) of Steel in the first quarter, up 10% from 3.10 MT produced in the same quarter last year, as per a regulatory filing by the company on BSE.
Dr Reddy's Laboratories has reportedly launched the generic Memantine hydrochloride tablets used for treatment of dementia of the Alzheimer's type in the US market. Keep an eye on this counter.
Reliance Industrial Infrastructure reported a 20.8% decline in its June quarter profit from a year earlier because of higher total cost and tax expenses.
TCS will be in focus as the India’s largest information technology services provider is training 100,000 employees on digital tech.
Havells India said it expected 20% growth in its switchgear business in Odisha in this fiscal.
HCL Technologies has said it will buy certain assets of Trygstad Technical Services in an all-cash deal.
Ventura Power Investments Pvt today said it has pledged 7.77 crore shares or 2.65% stake in Adani Power, to IDBI Trusteeship Services.
Lupin turns ex-dividend today for a dividend of Rs 7.50 per share for the year ended 31 March 2015.