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Markets are expected to open on a cautious note albeit with a negative bias tracking similar trend in Asian shares.
At 8AM IST, SGX Nifty was down 29 points at 5,778.
According to the technical charts, 'Going ahead, the index may get considerable support around 5,725-5,685, as the index completes the process of filling the recent gaps. However, as a sign of caution, one needs to keep a watch on the weekly momentum oscillators, which have now turned negative.'
Meanwhile Asian shares were tad lower ahead of the US Federal Reserve monetary policy later today.
Among the key Asian indices, Japan’s Nikkei was down 0.1% to 13,867.
Overnight, US stocks ended higher lifted by gains in technology stocks.
The Dow Jones industrial average dipped 1.38 points, or 0.01 percent, to end at 15,520.59. The Standard & Poor's 500 Index eked out a gain of just 0.63 of a point, or 0.04 percent, to finish at 1,685.96. The Nasdaq Composite Index rose 17.33 points, or 0.48 percent, to 3,616.47.
Domestically, in the earnings calendar we have Andhra Bank, Balrampur Chini, Bharti Airtel, Dishman Pharma, HCL Tech, ICICI Bank, JSW Steel, Karnataka Bank, NHPC, United Spirits set to unveil their first quarter results later today.
Following stocks are expected to move on the exchanges today:
PSU SJVN has recorded 8.87% rise in the first quarter of the current fiscal. The net profit of the company rose to Rs 343 crore from Rs 315 crore in the corresponding quarter last fiscal .
Multiplex chain operator PVR Ltd today reported 79.89% increase in consolidated net profit at Rs 13.60 crore for the first quarter ended June 30, 2013. The company had reported net profit of Rs 7.56 crore in the same period a year ago.
Diversified group DCM Shriram Consolidated Ltd (DSCL) today reported more than three-fold jump in the consolidated net profit to Rs 114 crore for the first quarter ended June 30, 2013. The company had clocked a net profit of Rs 31 crore in the same quarter a year ago.
Reliance Power said its consolidated net profit remained flat at Rs 240 crore in the first quarter ended June 30. The company had reported a profit of Rs 239.5 crore in the corresponding quarter of the previous financial year.
