BSE Sensex to start higher; bank stocks on watch

Jul 22 2014, 09:14 IST
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Overseas investors bought Indian shares worth 1.61 billion rupees ($26.73 million) on Monday, provisional exchange data showed.  Overseas investors bought Indian shares worth 1.61 billion rupees ($26.73 million) on Monday, provisional exchange data showed.
SummaryBse Sensex is set to open higher on Tuesday, heading towards their sixth consecutive...

Bse Sensex is set to open higher on Tuesday, heading towards their sixth consecutive day of gains, tracking strength in global stocks and continued foreign investor buying.

NSE index futures traded on the Singapore Exchange rise 0.37 percent, while the MSCI-Asia Pacific excluding Japan index gains 0.42 percent.

Asian stocks edged up in early trading on Tuesday, though the upside was capped by lingering concerns about the Ukraine crisis and violence in Gaza which pressured U.S. yields and the dollar.

Overseas investors bought Indian shares worth 1.61 billion rupees ($26.73 million) on Monday, provisional exchange data showed.

Banks stocks would be on watch after a Reserve Bank of India panel proposed on Monday that counter cyclical capital buffers for banks consist of only common equity Tier 1 capital and be gradually raised to 2.5 percent of lenders' risk weighted assets.

Key earnings on Tuesday: Axis Bank, Asian Paints

India Morning Call-Global Markets

EQUITIES

NEW YORK - U.S. stocks slipped on Monday as investors remained cautious about instability in Ukraine and Gaza, though the three major indexes ended well off their lows, a sign that some appetite for riskier assets remained.

The Dow Jones industrial average fell 48.45 points or 0.28 percent, to end at 17,051.73. The S&P 500 declined 4.59 points or 0.23 percent, to finish at 1,973.63. The Nasdaq Composite dropped 7.44 points or 0.17 percent, to close at 4,424.70.

LONDON - Britain's top share index fell on Monday, with tobacco stocks hit by a multi-billion-dollar fine against RJ Reynolds in the United States and retailers slipping after a profit warning from Tesco.

The blue-chip FTSE 100 index ended 0.3 percent lower at 6,728.44 points, with tobacco stocks, retailers and energy shares among the top decliners.

TOKYO - Japan's Nikkei share average rose on Tuesday morning after a three-day weekend, with exporters pulling ahead as the strong yen trend paused although geopolitical concerns checked the upside.

The Nikkei gained 0.7 percent to 15,314.20 in mid-morning trade as investors returned after Monday's holiday.

HONG KONG - Hang Seng Index set to open up 0.3 percent.

FOREIGN EXCHANGE

SYDNEY - The dollar stood little changed and confined to a narrow range against the euro and yen on Tuesday, as currencies lost some momentum on a slight reduction

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