Market Likely To Open In Positive
Indian equities market snapped four-day losing streak to close marginally higher as investors preferred to create positions in IT, capital goods and auto stocks ahead of F&O expiry on Thursday. The BSE Sensex gained 104.20 points at 27563.43 and the NSE Nifty rose 38.05 points to 8375.05, led by short covering in beaten down stocks in the last four sessions. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising more than 0.8%.
The Indian rupee closes little changed against the US dollar at 63.91 from its previous close of 63.92, as traders avoided taking long positions ahead of a policy decision from the US Federal Reserve.
U.S. stocks closed higher on Wednesday after the Federal Reserve kept rates unchanged in its July statement. The Federal Reserve offered no clear indication of the timing of the next rate hike, but left itself room to act as early as September, citing continued “solid” gains in the job market. The Dow Jones Industrial Average advanced 121.12 points, or 0.7%, to 17751.39. The S&P 500 rose 15.32 points, or 0.7%, to 2108.57, and the Nasdaq Composite gained 22.53 points, or 0.4%, to 5111.73.
Oil prices rose Wednesday on unexpected declines in U.S. crude-oil supplies and production. WTI crude for September delivery settled up 81 cents, or 1.7%, to USD 48.79 a barrel on the New York Mercantile Exchange. Brent rose 8 cents, or 0.2%, to USD 53.38 a barrel on ICE Futures Europe.
European shares climbed on Wednesday, lifted by strong corporate results and bid activity, including a move HeidelbergCement to take control of Italcementi. The Stoxx Europe 600 ended the session 1% higher, building on Tuesday’s 1.1% gain. London's benchmark FTSE 100 index ended Wednesday 1.2% ahead at 6,631 points. The CAC 40 in Paris finished 0.8% higher at 5,017.44 points, while Frankfurt's DAX 30 gained 0.3% to close at 11,211.85.
Asian stocks rose, following gains in global shares, as profits topped estimates and the Federal Reserve said the U.S. economy was progressing toward an interest-rate increase. Japan’s NIKKEI 225 index advanced 1.34%. Australia’s S&P/ASX 200 Index gained 0.60% and New Zealand’s NZX 50 Index rose 0.37%. South Korea’s Kospi index slid 0.35%. China's Shanghai Composite index quickly recouped losses of nearly 1% to trade flat.
A SGX CNX Nifty Index future for July delivery was up 23 points at 8,399. Indian markets likely to open in positive. The market is likely to stay volatile due to F&O expiry on Today. Bank of Baroda, Colgate Palmolive, Dena Bank, Dr Reddy's Laboratories, Essel Propack, Exide Industries, Glenmark Pharma, Greaves Cotton, Gujarat Fluorochemicals, HCC, HSIL, ITC, Kotak Mahindra Bank, NCC, NTPC, Oriental Hotels, Petronet LNG, Shanthi Gears, Strides Arcolab, Tata Teleservices, Thomas Cook, and Vijaya Bank would be reporting first quarter earnings today.