Markets at a Glance
Indian indices are likely to open higher today largely mirroring positive Asian markets. The in-vestors will keep a close eye over the shares of DLF after the company announced its quarterly results post the market hours yesterday. The realty major has reported a 18% decline in its net profit at `293 crore for the quarter ended June 30, 2012. Meanwhile Asian shares are trading higher today, extending their previous session’s sharp rally on renewed optimism over possible European bond buying, after Germany backed the European Central Bank’s bond-buying plan, helped calmed worries of the Eurozone’s debt crisis. Further, Japan’s Nikkei advanced support-ed by well provided earnings. The commodities shares gaining strength tracking higher com-modities prices at LME. The SGX Nifty, Aug’12 contract last traded at 5,297, up by 3 points from previous session.
Wall Street Update
The US markets rose sharply on Monday after a lackluster trade, extended last week’s rally as borrowing costs fell in Spain and Italy amid hopes of imminent action from the European Cen-tral Bank (ECB) to stem the crisis. ECB President Mario Draghi has said the ECB would buy short-dated bonds to lower borrowing costs to help Europe to overcome from its debt crisis. Be-sides, the volumes remained thin and lack of economic data contributed to a lackluster trading day. Cognizant Technology Solutions shares hogged the limelight after the company posted a 21% increase in second-quarter profits and raised its full-year adjusted profit forecast.
Previous Day Roundup (Domestic)
Indian benchmark indices rallied on the first trading session of the week on improved risk appetite boosted by better than expected US jobs data and renewed optimism for solution to Eurozone debt crisis lifted investors’ sentiments.
On the sectoral front, the Oil & Gas index was the top gainer today, surged by more than 3% followed by Auto, Bankex, Capital Goods and Realty indices up by more than 1%.
The BSE Sensex closed at 17,413 up by 215 points or by 1.3% and NSE Nifty closed at 5,283 up by 67 points or 1.3%.
The Indian Rupee rose to its highest after a long gap as the finance minister gave a ray of hope to unveil fiscal consolidation.
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