Global mkts mixed, Nifty eyes ICICI Bank, Maruti earnings
US markets closed off their best levels on Thursday, but the major indices still managed to eke out marginal gains and European markets ended mixed.
April 26, 2013 / 09:39 IST
US markets closed off their best levels on Thursday, but the major indices still managed to eke out marginal gains and European markets ended mixed.
Key Indian equity benchmark indices closed with hefty gains on expiry day. Sensex closed at 19406.85 up 227 points on Thursday and the Nifty ended at 5916.30 up 79 points, a level last seen on March 14.Asian markets are subdued in morning trade on Friday. MSCI's broadest index of Asia-Pacific shares outside Japan was flat, after hitting its highest since mid-March on Thursday.In key earnings to watch today, according to a CNBC-TV18 poll, ICICI Bank's net interest income is seen 17 percent higher at Rs 3644 crore while profit may see a 21 percent surge year on year. Asset quality ratios and net interest margins are seen stable. From autos, Maruti may report better numbers than its peers, aided by better product mix and price increases. Its revenues may see an 8 percent jump. US markets closed off their best levels Thursday, but the major indices still managed to finish higher as investors cheered a batch of better-than-expected earnings and an upbeat jobless claims report. Stocks eased off their highs after Federal Reserve Chairman Ben Bernanke said vulnerabilities remain in markets and regulators must be vigilant, speaking at a meeting of the panel of regulators known as the Financial Stability Oversight Council. . On economic data front, jobless claims declined 16,000 last week to a seasonally adjusted 339,000. Analysts had expected 351,000 new claims last week. In key data to watch out for in the US today – GDP for the first quarter is seen rising 3.1 percent. Meanwhile consumer sentiment data may come in at 73. European markets closed mixed. Shares got a boost from the news that the UK avoided a triple-dip recession in the first quarter. Markets initially had moved lower on the news that Spanish unemployment reached a record high in the first quarter. In the currency space, the euro stays above 1.30 to the dollar. The dollar index is around 82.75 levels. In commodities, Brent crude prices are above USD 102 per barrel. From the precious metals space-- gold surged more than 2 percent, climbing to its highest in 10 days helped by a weaker dollar and firm prices in other commodities.In result impact, JSPL came out with earnings post market hours on Thursday. Its topline beats estimates owing to higher sales volumes in the steel segment, it stood 2% higher at Rs 5583 crore. EBITDA margins disappointed at 27.3% versus 34.7%. Profits plunged almost 35 percent led by lower margins and higher finance costs.Idea's fourth quarter earning beats estimates. Its revenues came in almost 9 percent higher at Rs 6061 crore driven by strong volume growth at 8.5%. Profits surged 35 percent to Rs 308 crore and margins expanded 120 bps. Bata reported subdued and below estimate numbers for Q1 revenue growth came in at 11.8% compared to estimates of 15% at Rs 454 crore. Profits also came in below estimates at Rs 38 crore vs 36 crore. CNBC-TV18 estimated it to be at Rs 40 crore. The margins declined higher than estimates at 90 bps led by 31% increase in rent costs. Rent as a percent of sales increased to 13.4% versus 11.4% yoy. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
