Global market mixed, Nifty eyes ICICI Bank, Maruti earnings
Global market mixed, Nifty eyes ICICI Bank, Maruti earnings
US markets closed off their best levels on Thursday, but the major indices still managed to eke out marginal gains and European markets ended mixed.
Key Indian equity benchmark indices closed with hefty gains on expiry day. Sensex closed at 19406.85 up 227 points on Thursday and the Nifty ended at 5916.30 up 79 points, a level last seen on March 14.
In key earnings to watch today, according to a CNBC-TV18 poll, ICICI Bank's net interest income is seen 17 percent higher at Rs 3644 crore while profit may see a 21 percent surge year on year. Asset quality ratios and net interest margins are seen stable.
From autos, Maruti may report better numbers than its peers , aided by better product mix and price increases. Its revenues may see an 8 percent jump.
US markets closed off their best levels Thursday, but the major indices still managed to finish higher as investors cheered a batch of better-than-expected earnings and an upbeat jobless claims report.
Stocks eased off their highs after Federal Reserve Chairman Ben Bernanke said vulnerabilities remain in markets and regulators must be vigilant, speaking at a meeting of the panel of regulators known as the Financial Stability Oversight Council. .
On economic data front, jobless claims declined 16,000 last week to a seasonally adjusted 339,000. Analysts had expected 351,000 new claims last week.
In key data to watch out for in the US today GDP for the first quarter is seen rising 3.1 percent. Meanwhile consumer sentiment data may come in at 73.
European markets closed mixed. Shares got a boost from the news that the UK avoided a triple-dip recession in the first quarter. Markets initially had moved lower on the news that Spanish unemployment reached a record high in the first quarter.
In the currency space, the euro stays above 1.30 to the dollar. The dollar index is around 82.75 levels. In commodities, Brent crude prices are above USD 102 per barrel. From the precious metals space-- gold surged more than 2 percent, climbing to its highest in 10 days helped by a weaker dollar and firm prices in other commodities.
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