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The Nifty50 is likely to open higher on Tuesday tracking positive trend seen in other Asian markets. The index closed 80 points higher at 10,852 on Monday.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 32.5 points or 0.3 percent. Nifty futures were trading around 10,902-level on the Singaporean Exchange.
US stocks rose on Monday, giving the Dow and S&P 500 their biggest gains in more than a month, as bank shares jumped ahead of earnings reports later this week, said a Reuters report.
Asian shares sought to rally for a third session on Tuesday as hopes for upbeat corporate earnings buoyed Wall Street, while several high-profile resignations from Britain’s government kept sterling on the defensive, it said.
MSCI’s broadest index of Asia-Pacific shares outside Japan put on 0.2 percent in early trade, adding to a 1.3 percent rise on Monday. Japan's Nikkei climbed 0.8 percent and South Korea 0.6 percent, while E-mini futures for the S&P 500 firmed 0.1 percent.
India’s largest information technology company Tata Consultancy Services will report first-quarter earnings Tuesday, and a majority of the analysts expect the firm to continue its strong performance.
Analysts will watch for commentary on the demand outlook for calendar 2018 budgets, especially for BFS. “However, keenly watched will be the commentary on BFS recovery, green shoots of which were cited in the previous quarter,” said analysts at Motilal Oswal in a note to clients.
Results Today: TCS, IndusInd Bank, Prakash Industries, Kore Foods
Ex-Split: Otco International - Rs 10 to Rs 2
Ex-Bonus: City Union Bank 1:10
Dish TV: Q1 consolidated net profit at Rs 27.9 crore against loss of Rs 11.7 crore (YoY).
L&T Infotech: The firm has approved allotment of 3.52 lakh shares under ESOP scheme
Karnataka Bank introduces cash@PoS facility
J&K Bank: The company held its annual general meeting on July 9, 2018.
Hindustan Copper: Sukhen Kumar Bandyopadhyay appointed as Director (Finance) in Hindustan Copper
Astral Poly Technik aprroved acquisition of 51% stake of Rex Polyextrusion by cash
SRF announces setting up of a polyester film and resin plant in Thailand
HDFC Bank: Company's Q1 loan book grows 22 percent to Rs 7.08 lakh crore, deposits growth at 20 percent
Technical Recommendations:
We spoke to HDFC Securities and here’s what they have to recommend:
Exide Industries: Buy| CMP: Rs 268| Target: Rs. 285 | Stop-loss: Rs 258 | Return 6%
Nucleus Software: Buy| CMP: Rs 387| Target: Rs. 420 | Stop-loss: Rs 370 | Return 9%
Jai Corp: Buy| CMP: Rs 151| Target: Rs. 170 | Stop-loss: Rs 139 | Return 13%
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