INDIAN BENCHMARKS rebounded in the week after the Reserve Bank of India exempted the mandatory reserve requirements on funds raised through bonds for extending credit to housing and infrastructure sectors. Consumer Price Index-based inflation fell to 7.31 per cent in June, the lowest since its launch in January 2012.
TCS reported a 45% jump in quarterly net profit from a year ago. Net profit for the first financial quarter surged to Rs. 5,568 crores from Rs. 3,840 crores a year ago. Kotak Mahindra Bank consolidated net profit in the April-June quarter grew 11% YoY to Rs. 698.31 crore.
The INDIAN BENCHMARKS SENSEX ended 617 point up at 25642 and the 50-share NIFTY closed 204 point up at 7664.
GLOBAL MARKET CHASE
ASIAN STOCKS sagged and a drop in Treasury yields pressured the dollar on Friday after news of a downed Malaysian airlines jet at the Ukraine-Russia border sent investors scurrying into defensive assets.
U.S. STOCKS opened higher, as markets began to recover from the global downward trend caused by a plane crash in Ukraine.
EUROPEAN STOCKS opened lower, as market sentiment weakened broadly after an airplane crash in Ukraine sparked fresh concerns over tensions in the region.
INDIAN INDICES is expected to be dominated by corporate earnings in the near term. Global factors will also be key after a Malaysian plane was shot down in eastern Ukraine,stoking tensions between Russia and the West.Reliance Industries and UltraTech Cements will be in action following the first quarter earnings on Saturday. Other companies that will announce their earnings include, HDFC,HDFC Bank, Axis Bank, Wipro and ACC among others.
TCS reported a 45% jump in quarterly net profit from a year ago. Net profit for the first financial quarter surged to Rs. 5,568 crores from Rs. 3,840 crores a year ago. Kotak Mahindra Bank consolidated net profit in the April-June quarter grew 11% YoY to Rs. 698.31 crore.
The INDIAN BENCHMARKS SENSEX ended 617 point up at 25642 and the 50-share NIFTY closed 204 point up at 7664.
GLOBAL MARKET CHASE
ASIAN STOCKS sagged and a drop in Treasury yields pressured the dollar on Friday after news of a downed Malaysian airlines jet at the Ukraine-Russia border sent investors scurrying into defensive assets.
U.S. STOCKS opened higher, as markets began to recover from the global downward trend caused by a plane crash in Ukraine.
EUROPEAN STOCKS opened lower, as market sentiment weakened broadly after an airplane crash in Ukraine sparked fresh concerns over tensions in the region.
INDIAN INDICES is expected to be dominated by corporate earnings in the near term. Global factors will also be key after a Malaysian plane was shot down in eastern Ukraine,stoking tensions between Russia and the West.Reliance Industries and UltraTech Cements will be in action following the first quarter earnings on Saturday. Other companies that will announce their earnings include, HDFC,HDFC Bank, Axis Bank, Wipro and ACC among others.
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