Friday, July 20, 2012
The undertone is cautious yet a tad optimistic as investors examine corporate results and await announcements on pending reforms. FII flows have stayed positive this month. Be modest! It is the kind of pride least likely to offend. - Jules Renard. Indian markets have managed to rise modestly in the past three sessions amid a drop in volatility. The undertone is cautious yet a tad optimistic as investors examine corporate results and await announcements on pending reforms. FII flows have stayed positive this month. Monsoon deficit, sticky inflation and high twin deficits are among the negatives. The opening is likely to be slightly tepid as Asian markets are mixed this morning.
Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 8.50 points at the opening bell. Reliance Industries and Asian Paints unveil Q1 results today, 20 July 2012. The Central Statistics Office (CSO) will announce data on consumer price index (agricultural labourers/rural labourers) for June 2012 tomorrow, 20 July 2012. Asian stocks were mostly lower on Friday as weaker employment data in the US spoiled sentiment. In corporate news, Reliance Exploration and Production DMCC, a wholly owned subsidiary of Reliance Industries (RIL) has completed the transaction for divestment of its 80% working interest and operatorship in the production sharing contracts (PSCs) for the Rovi and Sarta Blocks in the Kurdistan Region to subsidiaries of Chevron Corporation.
Indian markets may open on a flat to negative note tracking mixed Asian cues. SGX Nifty is trading 6 points lower Events for the day: Results: Results: Asian Paints, Crompton Greaves, Hind Zinc, IB Financial Services, JSW Energy, Ultratech Cement, United Phosphorus, Zee Entertainment Enterprises.