The market is likely to extend last three days gains today with Dow hitting a record high for the second day in a row on Friday. Asian markets were mostly in the green.
Regarding advance tax, State Bank of India (SBI) has paid Rs 2069 crore so far including Rs 850 crore remitted in the third installment. Tata Steel has paid advance tax of Rs 780 crore for the third installment, taking its total advance tax payment for this fiscal to 1410 crore compared to Rs 1443 crore in the same period last year.
Reliance Industries (RIL) paid advance tax of Rs 444 crore for the third installment taking its total remittance this fiscal to Rs 1102 crore compared to Rs 848 crore paid in the same period last year. Tata Motors has paid Rs 135 crore in third installment taking its total remittance this fiscal to Rs 265 crore. The company’s tax outgo in the fiscal last year was about Rs 360 crore.
As per provisional figures, FIIs were net buyers to the tune of Rs 374 crore on Friday 15 December, the day when Sensex had risen 127 points.
FIIs were net buyers to the tune of Rs 128 crore in index-based futures and Rs 175 crore in individual stock futures on 15 December.
Meanwhile, RBI on 15 December came out with new capital market exposure norms for banks which would come into force from April 2007. In terms of the new guidelines, the exposure of a bank to the capital market cannot exceed 40% of its net worth as on 31 March of the previous year.
US stocks rose in heavy volume on Friday, pushing the Dow to a record as tame consumer prices reassured investors inflation was under control and economic growth was still strong enough to support profits. The Dow Jones industrial average gained 28.76 points, or 0.23%, to end at 12,445.52. The Standard & Poor's 500 Index added 1.60 points, or 0.11%, to finish at 1,427.09. The Nasdaq Composite Index rose 3.35 points, or 0.14%, to close at 2,457.20.
Asian markets were mostly in the green on Monday. Key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were up by between 0.01% to 1.3%.