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...
While the Indian stockmarkets were not generous to investors (declined week-on-week), the rain gods gave a handful to Mumbai and as usual, the city choked during the last week! This did have an impact on the daily volumes traded, which was low in the first three days, only to gain momentum in the later half. Despite a weak start, there was selective buying interest in some sectors. But sentiment was dampened following the Prime Minister's decision to keep disinvestments of public sector units on hold (read Neyveli Lignite Corporation). This time, it was not only the 'Left' that was 'as usual' against the move, but also an important ally from Tamil Nadu (DMK). Incidentally, DMK was a strong supporter of disinvestments of PSUs under the erstwhile NDA government. Besides these domestic concerns, global factors such as North Korea testing missiles and renewed worries about interest rates increasing in Japan added to the nervousness. In this backdrop, it was a tug-of-war between the bulls and the bears with bears winning the battle towards the end of the week.
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