Nifty futures breach 6,100, premium over spot expands

Jan 21 2013, 15:56 IST
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SummaryJanuary futures contract breached 6,100 level as spot index rose, led by gains in Reliance.

* January futures contract on India's 50-stock Nifty index breached 6,100 level earlier in the day as spot index rose, led by gains in Reliance Industries.

* This marked the first time a near-month index futures contract rose over 6,100 level since Jan. 6, 2011.

* The premium over spot index expanded to 15 points compared with 10 points on Friday, which dealers attribute to confidence in the earnings season.

* Among heavyweight stocks -- Reliance Industries, ITC, Infosys , Tata Consultancy Service have beaten their earnings estimates for the December quarter.

* Blue chip earnings this week include Hindustan Unilever on Tuesday, Larsen & Toubro on Thursday and Maruti Suzuki on Friday.

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