Indian shares outlook - May open higher on strong Asian mkts |
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Thu, 28 Jun 2007 05:43
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MUMBAI (Thomson Financial) - Indian shares are expected to open higher on the back of the strong Asian markets and may remain volatile for most part of the day as the derivatives contracts expire today, dealers said.'There is not much good news for the market apart from the strong Asian markets. The next trigger now is the first quarter earnings numbers,' a dealer with a Mumbai-based brokerage said.Yesterday, The Bombay Stock Exchange's 30-share Sensex closed at 14,431.06, down 70.02 points, or 0.48 pct. In the broader market, the National Stock Exchange's S&P CNX Nifty ended at 4,263.95, down 21.75 points, or 0.51 pct.Dealers are of the view that the extent of rollover of derivatives contracts to July from June will define the near-term trend in the domestic markets. A higher level of rollover contracts will indicate that the market participants have a bullish sentiment, while a low rollover will raise concerns over the future of the market.Shares of Tata Power Co are likely to be in the limelight on reports that it is contemplating acquisition of vessels or stakes in shipping companies to transport coal from Indonesia.Most of the Asian markets opened on a high note today with sentiment bolstered by Wall Street's rebound and the slight softening of the yen.TFN.newsdesk@thomson.comami/manCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Indian shares rise on hopes of better Q1 numbers, firm Asian markets 