Markets to see a positive opening

Global cues help

Corporate results coupled with worries over deficient monsoon rains are some of the factors that are likely to determine how the markets shape up this week.

Market participants will also monitor the monsoon session of Parliament that starts on Wednesday.

Among major corporate results slated for this week are DLF, SAIL, Oil India, Mahindra & Mahindra, Bharti Airtel, Ranbaxy, IOC, SBI and Sun Pharma.

Last week, the Sensex rallied to a high of 17,292, and finally ended with a gain of 359 points at 17,198. It is likely to seek support around 17,055 – 16,965 and can face resistance around 17,340 -17,430, technical analysts suggest.

Asian shares and the euro rose on Monday, as a stronger-than-expected US jobs data and emerging optimism for European action on the debt crisis lifted risk appetite. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.7 per cent, and Japan's Nikkei stock average opened 1.5 per cent higher.

At 705 am Indian Standard Time, the SGX Nifty was trading at 5,279 – up 0.7 per cent.

Among individual stocks, Jet Airways, Godrej Comsumer Products, Marico, UCO Bank and SKS Microfinance are some of the counters that will react to the June 2012 quarter results.

The MCX Stock Exchange (MCX-SX) has received approval from the market regulator and central bank to launch currency options on its platform. This could see MCX and Financial Technologies get back in focus today.

KNR Constructions will also be in the limelight on reports that it has bagged order worth Rs 682 crore from National Highways Authority of India in Kerala.