BENGALURU (Reuters) – Indian stocks were poised to open higher on Monday, following a surge on Wall Street on Monday, with earnings from big companies such as Reliance giving a cue. there is
India’s NSE Share futures listed on the Singapore Exchange were up 0.53% at 18,140.50 as of 07:32 IST.
Domestic stocks will react to the results of major companies such as Reliance Industries, ICICI Bank and Kotak Mahindra Bank from Friday through the weekend.
Financial stocks could rise after strong quarterly results from major banks over the weekend.
Wall Street stocks closed higher on Friday as strong quarterly earnings boosted Netflix and Google parent Alphabet rose after announcing job cuts.
Most Asian stocks were closed on Monday due to the Lunar New Year holiday.
Foreign institutional investors sold a net worth of rupees 200.2 billion ($247.22 million) worth of shares on Friday, while domestic investors bought a net worth of rupees 15.1 billion, according to preliminary NSE data. bottom.
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** Reliance Industries Ltd on Friday reported a better-than-expected decline in quarterly profit as India’s largest company by market valuation suffered a surprise tax hit on fuel exports by the government.
** Kotak Mahindra Bank reported a 31% increase in net profit for the October-December quarter on Saturday.
** ICICI Bank on Saturday reported a 34.2% increase in net profit for the October-December quarter on improved earnings and healthy loan growth.
** India’s top cement maker UltraTech Cement reported a 38% drop in quarterly profit on Saturday.
** Yes Bank reported an 80% plunge in quarterly profit on Saturday as its provision for bad debts increased.
** SBI Life Insurance Co reported a 16% decline in third quarter profits on Saturday.
($1 = 80.9790 Indian Rupees)
(Reporting by Rama Venkat, Bengaluru; Editing by Janan Venkatraman)
