Petronet LNG, Max Financial Services, Suven Pharmaceuticals, Prestige Estates Projects, Galaxy Surfactants, Engineers India, Bajaj Hindusthan Sugars, Wonderla Holidays and Titagarh Wagons are among key companies that will announce their March quarter results today
MUMBAI: Markets are likely to extend rally on Tuesday while trends in SGX Nifty suggest a positive opening of Indian benchmark indices. On Monday, the BSE Sensex closed at 52,328.51 up 228.46 points or 0.44%. The Nifty was at 15,751.65, up 81.40 points or 0.52% .
Asia stocks opened higher on Tuesday, cruising in the slipstream of a record high overnight gauge of global equity markets, with investors hoping for inflation and monetary policy clues later in a week full of key central bank meetings and data points.
The upward momentum comes as the G7 nations reached a landmark deal on Saturday to back a minimum global corporate tax rate of at least 15%, lifting shares of technology giants such as Microsoft and Facebook as their future tax obligations become more predictable.
The European Central Bank is due for its monetary policy meeting on Thursday, the same day U.S. consumer price index number will be released, potentially fuelling talks of tapering by the Federal Reserve. In Asia, China inflation data is due on Wednesday.
Petronet LNG, Max Financial Services, Suven Pharmaceuticals, Prestige Estates Projects, Galaxy Surfactants, Engineers India, Bajaj Hindusthan Sugars, Wonderla Holidays and Titagarh Wagons are among key companies that will announce their March quarter results today.
India's largest domestic carrier InterGlobe Aviation Ltd-operated IndiGo hopes to raise₹4,500 crore by securing credit lines from lenders and entering into sale and leaseback (SLB) arrangement for new aircrafts as it expects a further revenue deterioration and cash burn during the June quarter, the company's chief financial officer Jiten Chopra said on Monday.
Lenders have decided to initially transfer 22 bad loan accounts of ₹89,000 crore to the proposed National Asset Reconstruction Company Ltd (NARCL), aiding the cleanup of their balance sheets, according to a Mint report.
The Securities and Exchange Board of India (Sebi) on Monday barred Franklin Templeton Asset Management (India) Pvt. Ltd from offering debt plans for two years and ordered it to refund management and advisory fees totalling ₹512 crore on six shut debt schemes for violating regulations while closing them.
Oil prices lost more ground on Tuesday as concerns about the fragile state of the global recovery in demand for crude and fuels were heightened by data showing China's oil imports fell in May.
Brent crude was down 11 cents, or 0.2%, to $71.38 a barrel after declining 0.6% overnight. US oil was off by 13 cents, or 0.2%, at $69.10 a barrel, having dropped by 0.6% in the previous session. read more
Gold prices hovered near the key level of $1,900 an ounce, supported by a weaker dollar and lower bond yields. Spot gold gained 0.15% to reach $1902.25 an ounce.
(Reuters contributed to the story)
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