Sensex, Nifty Set To Open Higher; TCS, Avenue Supermarts In Focus


2021-01-11 03:32:22

Sensex, Nifty Set To Open Higher; TCS, Avenue Supermarts In Focus

Domestic stock markets are set to open higher in trade on Monday as indicated by the Nifty futures traded on the Singapore Exchange. Singapore Nifty also known as the SGX Nifty was up 0.58 per cent or 83 points at 14,459, indicating the benchmarks hitting new highs at the opening. In Friday’s session, the S&P BSE Sensex rallied over 750 points and Nifty 50 index climbed above 14,350 as markets broke record highs for tenth session on Friday on the back of a broad-based buying interest.

Meanwhile, Asian shares took a breather on Monday while Treasury yields were at 10-month highs as “trillions” in new U.S. fiscal stimulus plans were set to be unveiled this week, stoking a global reflation trade.

Investors were keeping a wary eye on U.S. politics as pressure grew to impeach President Donald Trump, though signs were an actual trial could be some time away.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.2 per cent, having surged 5 per cent last week to record highs. Japan’s Nikkei was on holiday after closing at a 30-year high on Friday.

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Back home, Tata Consultancy Services will be in focus after it reported a 7.2 per cent growth in profit at Rs 8,701 crore in the third quarter on higher demand for cloud computing. The company said its revenue from the banking and finance industries jumped 7.6 per cent year-over-year to Rs 16,655 crore in the December quarter.

Avenue Supermarts reported a rise of 16.4 per cent in consolidated net profit at Rs 446.95 crore in Q3FY21 as against Rs 384.01 crore on a year-on-year basis. The revenue from operations increased 10.77 per cent to Rs 7,542 crore from Rs 6,808.93 crore.



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