Wednesday, January 16, 2013

share Nifty index is expected today

share Nifty index is expected today january 17 2013 : The 50-share Nifty index is expected to open soft on Thursday, while investors will keep a close eye on Hero MotoCorp and HCL Technologies ahead of their results which will be out later today. At 07:30 a.m., Nifty India stock futures in Singapore were up 20.50 point at 6036.50, indicating a soft opening on the domestic market.

Hero MotoCorp is expected to report a 2 per cent YoY growth in its consolidated net sales to Rs 6155 crore for the quarter ended December 31 from Rs 6031 crore reported in the year-ago period, according to ET NOW Poll.

HCL Technologies is likely to report a 6.75 per cent decline in net profit to Rs 825.2 crore for the quarter ended December 2012 as compared to a net profit of Rs 885 crore in previous quarter, says ET Now poll.

The Nifty closed just above its the psychological mark of 6,000 as weak global cues and concerns whether the Reserve Bank of India will cut interest rates at its next meet hurt sentiment.

Technically, after notching gains in two consecutive trading sessions, Indian market fell on profit-booking on Wednesday.

"In the coming trading sessions we need to watch whether Nifty hold 5980 levels on closing basis or not. Even the hourly chart of the Nifty indicates that it has retracement 61.8% of the last two trading session gains," LKP said in a report.
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