DSIJ Mindshare

Market Likely To Open Flat

Indian equities indices have seen consolidation on Monday ahead of RBI policy scheduled to be announced on June 2. The Sensex advanced 20.55 points to 27848.99 while the Nifty fell 0.25 point to 8433.40. The broader markets closed flat too.

Far sales data for month of May indicated strong growth for companies like Maruti Suzuki, Eicher Motors and Ashok Leyland. Maruti reported a 14% growth in sales YoY while Ashok Leyland saw handsome 40% growth in commercial vehicle sales in May. TVS Motor Company recorded a 6% growth in sales for the month of May 2015 with total sales increasing from 206,813 units recorded in the month of May 2014 to 220,079 units in the month of May 2015. While Mahindra & Mahindra reporting a 3% decline in May sales. Its tractor sales dropped 21% on yearly basis. Hero MotoCorp reported sale for the month of May fell 5.4% from a year earlier.

Tata Motors reported a 5.21% increase in total sales at 39,496 units vehicles in May as compared to 37,538 units in the same period last year. Passenger car sales during the month rose 32% to 9,176 even as the utility vehicle sales declined 15% to 1,962 units. In the commercial vehicles segment, domestic sales were at 23,680 units, a decline of 6% over May 2014. Sales of the company’s medium and heavy duty trucks rose 17% to 10,788 units while the light and small commercial vehicle sales continued to reflect the industry decline and dropped 19% to 12,892 units.

U.S. stocks drifted higher in quiet trading Monday, ahead of a busy week of data. The S&P 500 rose 4.35 points, or 0.2%, to close at 2,111.74. The Dow Jones Industrial Average gained 29.69 points, or 0.2%, to 18,040.37. The Nasdaq Composite ended the session up 12.90 points, or 0.3%, at 5,082.93. This week a flurry of data is scheduled for release, likely giving investors more insight into the health of the U.S. economy. The data include U.S. factory orders Tuesday and a report on the U.S. trade deficit Wednesday. And on Friday the Labor Department is set to publish May’s jobs report.

European stocks rose marginally Monday after manufacturing data and Greece concerns dented an earlier rally led by pharmaceutical shares. The Stoxx Europe 600 ended the session just under 0.2% higher. London’s FTSE 100 shed a little more than 0.4%, while Germany’s DAX and France’s CAC added 0.2% and 0.4%, respectively.

Asian stocks opened mostly lower Tuesday ahead of the release of central bank decisions in Australia and India. Nifty is likely to open on a flat note tracking subdued trading of Nifty on the Singapore Stock Exchange. The SGX Nifty was up 1.5 points at 8,423.

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