 "Pre-market: Markets to open higher as govt eases retail FDI norms")
Markets are expected to open higher after Indian government further relaxed foreign direct investment norms in the retail sector to attract overseas investments.
At 8:25AM IST, SGX Nifty was up 29 points at 5792.
According to the technical experts, "In case, the index is able to sustain above 5,685 for couple of hours, we can witness a pull-back rally towards the end. Today, the Nifty may seek support around 5,675-5,645, while face resistance around 5,780-5,810."
A separate report also showed first-time applications for jobless benefits hit a 5-1/2-year low last week, boding well for the payroll data.
Among the key Asian indices, Japan’s Nikkei was up 2% to 14,254, Singapore’s Straits Times gained 0.6% to 3,263 in the opening deals.
Overnight, US stocks rallied after strong data on factory growth.
The Dow Jones industrial average was up 128.48 points, or 0.83 percent, at 15,628.02, a record close. It hit a new intraday high of 15,650.69. The Standard & Poor's 500 Index was up 21.14 points, or 1.25 percent, at 1,706.87, also a record.
The benchmark S&P surpassed 1,700 early in the session after failing to break above that level on Wednesday.
The Nasdaq Composite Index was up 49.37 points, or 1.36 percent, at 3,675.74. The index hit a 13-year high.
Domestically, companies such as Bajaj Corp, Bank of Maharashtra, Hindustan Construction, Jubilant Food, Just Dial, Neyveli Lignite, Power Finance, Punj Lloyd, Shasun Pharma, Siemens, Suzlon Energy and TV Today will report their April-June earnings later today
Following stocks are expected to move on the exchanges today:
Financial Technologies (India) and Multi Commodity Exchange of India today said there would be no adverse impact on their businesses after group company National Spot Exchange Ltd decided to temporarily halt trading on one-day forward contracts. The clarifications came after FTIL and MCX shares plunged yesterday.
The country's largest two-wheeler maker Hero MotoCorp today reported marginal rise in total sales at 4,87,545 units for July this year. In the same month last year, it had sold 4,84,217 units, Hero MotoCorp said in a statement.
Glenmark Pharmaceuticals Limited has recorded a 64% growth in its net profit for the first quarter ended June 30, 2013, on back of solid growth in its specialty formulations and formulations business in India.
Adani Group’s power arm, Adani Power Ltd (APL), has posted a net loss of Rs 919 crore on standalone basis for the quarter ended June 2013. The company had reported a net loss of Rs 793 crore in the corresponding period last fiscal.
Ceat, India's fourth largest tyre manufacturer, today reported a 125% increase in net profit at Rs 65 crore for the quarter ended June 30, 2013 as against Rs 29 crore posted during the same period last year.
IT services firm Tech Mahindra said its Brazilian subsidiary has won two multi-million dollar contracts to deliver enterprise solutions for oil & gas and banking verticals.
At 8:25AM IST, SGX Nifty was up 29 points at 5792.
According to the technical experts, "In case, the index is able to sustain above 5,685 for couple of hours, we can witness a pull-back rally towards the end. Today, the Nifty may seek support around 5,675-5,645, while face resistance around 5,780-5,810."
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Meanwhile Asian shares rose in early trades after US factory activity for July rose to its highest level since June 2011, easing concerns a slowdown.
A separate report also showed first-time applications for jobless benefits hit a 5-1/2-year low last week, boding well for the payroll data.
Among the key Asian indices, Japan’s Nikkei was up 2% to 14,254, Singapore’s Straits Times gained 0.6% to 3,263 in the opening deals.
Overnight, US stocks rallied after strong data on factory growth.
The Dow Jones industrial average was up 128.48 points, or 0.83 percent, at 15,628.02, a record close. It hit a new intraday high of 15,650.69. The Standard & Poor's 500 Index was up 21.14 points, or 1.25 percent, at 1,706.87, also a record.
The benchmark S&P surpassed 1,700 early in the session after failing to break above that level on Wednesday.
The Nasdaq Composite Index was up 49.37 points, or 1.36 percent, at 3,675.74. The index hit a 13-year high.
Domestically, companies such as Bajaj Corp, Bank of Maharashtra, Hindustan Construction, Jubilant Food, Just Dial, Neyveli Lignite, Power Finance, Punj Lloyd, Shasun Pharma, Siemens, Suzlon Energy and TV Today will report their April-June earnings later today
Following stocks are expected to move on the exchanges today:
Financial Technologies (India) and Multi Commodity Exchange of India today said there would be no adverse impact on their businesses after group company National Spot Exchange Ltd decided to temporarily halt trading on one-day forward contracts. The clarifications came after FTIL and MCX shares plunged yesterday.
The country's largest two-wheeler maker Hero MotoCorp today reported marginal rise in total sales at 4,87,545 units for July this year. In the same month last year, it had sold 4,84,217 units, Hero MotoCorp said in a statement.
Glenmark Pharmaceuticals Limited has recorded a 64% growth in its net profit for the first quarter ended June 30, 2013, on back of solid growth in its specialty formulations and formulations business in India.
Adani Group’s power arm, Adani Power Ltd (APL), has posted a net loss of Rs 919 crore on standalone basis for the quarter ended June 2013. The company had reported a net loss of Rs 793 crore in the corresponding period last fiscal.
Ceat, India's fourth largest tyre manufacturer, today reported a 125% increase in net profit at Rs 65 crore for the quarter ended June 30, 2013 as against Rs 29 crore posted during the same period last year.
IT services firm Tech Mahindra said its Brazilian subsidiary has won two multi-million dollar contracts to deliver enterprise solutions for oil & gas and banking verticals.