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Sensex, Nifty likely to open flat with positive bias

Yatheendradas C.k. at 09:09 AM - Jan 19, 2016 ( ) Views: 251

Sensex, Nifty likely to open flat with positive bias; RIL results eyed

The BSE Sensex and NSE Nifty are likely to open on a flat note with positive bias on Tuesday tracking SGX Nifty and Asian markets.

By: Rahul Oberoi | New Delhi | January 19, 2016 8:58 AM The Financial Express

8.57 am: HCL Technologies announced its Q2 results before market hours. For the quarter ended December 2015, the IT major posted standalone net profit of Rs 1,653.60 crore, up 17.70 per cent, against Rs 1,404.63 crore in the sequential quarter ended September 2015. The company earned Rs 1,663.47 crore in the same quarter a year ago.

8.44 am: The BSE Sensex and NSE Nifty are likely to open on a flat note with positive bias on Tuesday tracking SGX Nifty and Asian markets.

At 8.28 am (IST), SGX Nifty was up 5 points, or 0.07 per cent, at 7,364.

Asian stocks rose modestly and crude oil prices nudged up on Tuesday after Chinese GDP figures were mostly in line with expectations. China’s economy grew 6.8 per cent in the fourth quarter from a year earlier, the data showed, the slowest growth since 2009. Industrial output in December rose 5.9 per cent from a year earlier, compared with forecasts for a 6 per cent increase.

US markets were closed on Monday for Martin Luther King Day.

Market benchmark Sensex on Monday fell to a 20-month low after plunging 266.67 points to 24,188.37, dragged down by a massive dip in exports, while RIL cracked over 5 per cent on crude slipping below $28 per barrel. The NSE Nifty too remained under pressure and slipped below the 7,400-mark to hit a low of 7,336.40 before settling 86.80 points or 1.17 per cent down at 7,351.

Shares of Reliance Industries and Maruti Suzuki will remain in focus in today’s trade. Reliance Industries will announce its Q3 result on Tuesday later in the day.

Maruti Suzuki India cut the price of its premium crossover S-Cross by over Rs 2 lakh after failing to gain traction in the market.

(With agency inputs)



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