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Monday, August 12, 2013

Bulls to ring bell on Dalal Street; SBI results eyed

The Indian stock markets are expected to witness positive start on Dalal Street ahead of key economic data as the global cues looked supportive. SGX Nifty is trading 37.50 points higher.
Events for the day:
IIP data to be announced
Results: SBI, DLF, Hindustan Copper, Tech Mahindra, Marico, Britannia, Indraprasth Gas, HPCL, ONGC to announce quarterly results
Engineers India to quote Final Dividend
Headlines for the day:
Sun Pharma to pay Rs2,517 cr to settle patent suit
Maruti to launch rival to Hyundai's Grand i10 early next year
TCS to set up Rs500 cr eco-friendly software development campus in Indore
Indian Indices:
The Indian equities are set to start the first trading session of the week in the green zone as the global cues look supportive. SGX Nifty is trading 37.50 points higher.
Investors will focus on the macros as the June IIP data is due today. State Bank of India (SBI), will report their numbers today. Continued pressure on asset quality and operating profit is likely on the country's largest bank.
On Thursday (August 08, 2013), the S&P BSE Sensex wrapped trade at 18789.34, up by 124.46 points while the NSE Nifty rose 46.55 points to settle at 5565.65.
Global Indices:
Asian markets were trading firm on Monday. Japanese shares fell to a six-week low on Monday and the yen strengthened after data showed Japan's economy grew at a slower-than-expected pace in April-June, triggering investors to pare back some of their risk exposure.
European stocks climbed on Friday as strong Chinese factory data fuelled a rally in mining shares, while buoyant euro zone banks propelled French and Spanish benchmark indices to year highs.
US stocks fell on Friday and posted their biggest weekly decline since June as investors focused on when the Federal Reserve would begin to scale back its stimulus.