)
The benchmark indices are likely to begin the August derivatives series mildly in the positive, going by the momentum witnessed in the previous session and early indications from SGX Nifty. However, the upside is likely to be capped, given the mixed cues from the Asian market front.
The Sensex had risen by more than 100 points and the Nifty had settled above the 8,400 mark in the previous session.
In important earnings, L&T, ICICI Bank, Sun TV Network, Titan Company and GlaxoSmithkline Pharmaceuticals will report their Q1 numbers during the day.
Meanwhile, private sector banks are in for a major booster dose as the minister of state for finance Jayant Sinha said a comprehensive package will be announced on Friday. The market participants are likely to watch out for RBI's policy, earnings and functioning of parliament in the new series.
At 8.20am, the SGX Nifty was at 8488, up 15 points.
GLOBAL MARKETS
The Asian markets are tradig mixed this morning, on track for a weekly loss, after Japan's economic data disappointed and investors remained wary of Chinese market after a sharp correction in last session. The dollar has edged away from highs scaled after US GDP data reinforced expectations that the Federal Reserve is on track to raise interest rates this year.
Hang Seng, SET and Jakarta indices have edged higher byt upto 21% each, while the Shanghai, Straits Times and Kospi indices are lower by upto 1% each. apan's Nikkei 225 index turned positive, as it regained its footing following the release of mixed economic data before the market open.
On Wall Street, US shares put in a mixed performance, as downbeat earnings offset solid economic data. The Dow Jones ended flat at 17,745 and Nasdaq Composite added 0.3% at 5,128.
STOCKS TO WATCH
Kotak Mahindra Bank is likely to be in the spotlight after reporting a 25.8% decline in net profit at Rs 516.57 crore for the first quarter ended June 2015 on account of higher provisioning for bad loans.
HCC is set to see action after reporting a decline in net profit to Rs 8 crore in the first quarter of 2015-16 from Rs 27.1 crore a year ago.
Exide Industries posted a 16.24% decline in net profit at Rs 155.2 crore for the quarter ended June 2015. The battery manufacturer had registered a net profit of Rs 185.30 crore for the corresponding period a year ago.
Keep an eye on RIL as reports suggest that ahead of launching commercial operations of 4G services, Reliance Jio Infocomm Ltd, the telecom arm of Reliance Industries plans to raise Rs 3,500 crore debt to fund roll-out expenses.
According to media reports, Bharti Airtel has rolled out latest 4G technology in Meghalaya's capital Shillong, the first in North East.
