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Markets are expected to open on a positive note on Monday tracking firm Asian shares. Investors would, however, be cautious ahead of July options expiry this week coupled with earnings announcement.
At 8AM IST, SGX Nifty was down 6 points at 6037.
According to the technical charts “The Sensex is on the verge of facing resistance on the monthly and quarterly charts, at 20,260 and 20,275, respectively. Break and close above these levels would trigger fresh upside momentum, and the BSE benchmark index might rally to 20,550-20,820 levels. ”.
Meanwhile Asian shares rose in early trades with Nikkei surging nearly 1 per cent after Prime Minister Shinzo Abe's ruling bloc and its coalition partner regained control of the upper house in an. Election.
Among the key Asian indices, Japan’s Nikkei was up 0.7% to 14,693, Singapore’s Straits Times gained 0.5% to 3,229 in the opening deals.
US stocks ended mixed on Friday after strong earnings from some industrial companies were countered by feeble results from Microsoft and other technology companies.
The Dow Jones Industrial Average finished down a scant 4.80 (0.03 per cent) to 15,543.74.The broad-based S&P 500 added 2.72 (0.16 per cent) at 1,692.09, while the tech-rich Nasdaq Composite Index fell 23.66 (0.66) to 3,587.61.
Domestically, companies such as Asian Paints, ING Vysya Bank will report their April-June earnings later today
Following stocks are expected to move on the exchanges today:
Reliance Industries plans to invest $6.5 billion in its KG-D6 gas fields to re-attain natural gas production of up to 60 mmscmd by 2019-20 and regain the lost glory of the prolific block.
Country's largest housing finance company HDFC is planning to buy Hindustan Unilever's former headquarters, Lever House, located at Backbay Reclamation in the southern tip of the megapolis.
Country's largest private electricity producer Tata Power is eyeing local acquisition opportunities amid "stress" in the domestic sector.
The Cabinet at its next meeting may approve the sale of 10% of the government's stake in Indian Oil Corporation (IOC), which may fetch over Rs 4,300 crore to the exchequer at the current market price.
