INDIAN BENCHMARKS Bullish start seen on Dalal Street
The Indian shares are likely to see a strong start as the global
cues look supportive with SGX Nifty trading 21.50 points higher
Indian Indices:
Indian equity benchmarks are likely to witness a gap up opening on
Tuesday tracking a positive trend across markets in Asia as investors continued
to assess the prospects of a US interest rate hike this summer.
Gains in the CNX Nifty Index Futures for June delivery which
advanced by 0.21 per cent or 17.5 points at 8,212.5 at 10:35 AM Singapore time
also signal that Dalal Street may open higher today.
Shares of Tata Motors may see some buying momentum as the company
in aftermarket hours on Monday said that its consolidated net profit for the
March 2016 ended quarter tripled to Rs5,177 crore led by strong sales from its
Jaguar Land Rover business in the UK, Europe, North America and China.
Global Markets:
Asian stocks were trading higher today as traders remained focused
on US interest rate outlook.
China’s Shanghai Composite jumped over 2 per cent led by gains in
financial and commodity companies, Hang Seng rose while Japan’s Nikkei 225
advanced as a revival in industrial output eased concerns over the world’s
third biggest economy.
Japanese industrial production climbed 0.3 per cent in April 2016
from the previous month, compared to an expected 1.5 per cent drop.
US markets were closed on Monday due to the Memorial Day holiday.
Major Headlines of the day:
Sun Pharma: Board To Mull Share Buyback On June 23.
S&P, Fitch downgrade Rolta.
TRAI issues pre consultation paper on net neutrality.
Trend in
FII flows: The FIIs were net sellers of Rs -355.54 Cr in the
cash segment on Monday while the DIIs were net buyers of Rs 211.09 Cr, as per the
provisional figures.
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