Markets at pre-open Index Current Pt. Change % Change S&P BSE SENSEX 34,431.52 +99.84 +0.29 S&P BSE SENSEX 50 11,022.71 -16.44 -0.15 S&P BSE SENSEX Next 50 34,330.60 -72.15 -0.21 S&P BSE 100 10,939.81 -17.37 -0.16 S&P BSE Bharat 22 Index 3,585.96 +8.08 +0.23 (Source: BSE) Automobile sector's Q4 show could offer signals about entire economy On the whole, the Reserve Bank of India Monetary Policy Review and other macro-economic data presents a picture of an improving economy. Inflation remained benign in March. The Consumer Price Index was up 4.3 per cent year-on-year. The automobile sector also has a very long and complex value chain, starting with mining at one end and ending with high-end marketing and advertising services. It is also a barometer of consumption demand. The Q4 results in the auto industry could offer signals about trends across the entire economy. READ MORE EARNINGS Mindtree's Q4 net profit up 87.5% Global technology services company Mindtree on Wednesday reported a rise of 87.5 per cent in its consolidated net profit for the fourth quarter to Rs 182.2 crore. "We ended the year on a strong note, and seeing that momentum creating a healthy start to our new fiscal year. It's especially heartening that our client satisfaction ratings reached an all-time high, setting the benchmark in our industry," said Rostow Ravanan, CEO and Managing Director, Mindtree.READ MORE EARNINGS ACC Q1 consolidated net profit up 18% Cement and ready mixed concrete manufacturer ACC on Wednesday reported an increase of 18.48 per cent in its consolidated net profit for the quarter ended March 31, 2018. According to the company, its net profit during the quarter under review rose to Rs 250 crore from Rs 211 crore reported for the corresponding period of the previous fiscal. READ MORE Oil rises 2% as Saudi Arabia aims at $100/bbl, US stockpiles fall Oil extended gains on Wednesday, rising more than $1 on a reported decline in US crude inventories and after sources signalled top exporter Saudi Arabia wants to see the crude price closer to $100 a barrel. Top oil exporter Saudi Arabia would be happy for crude to rise to $80 or even $100, three industry sources said, a sign Riyadh will seek no changes to a supply-cutting deal even though the agreement's original target is within sight. READ MORE TCS Q4FY18 result preview: Here's what brokerages expect Infosys surprised the Street by lowering its EBIT guidance for FY19 while announcing its March quarter (Q4FY18) numbers on Friday. Will TCS follow suit? The Tata Group company is likely to announce its results for the March quarter and the full financial year 2017-18 (FY18) on April 19. On a year-to-date basis, the stock has rallied around 17% and has outperformed the Nifty IT index that gained over 12% during this period. By comparison, the Nifty50 index is down 0.1% YTD, ACE Equity data showed. READ MORE
After Infosys lowered its Ebitda guidance, investors will now look to TCS quarterly results, due later today. Apart from TCS, corporate earnings of IndusInd Bank, Reliance Power, Bharat Seats and Cyient are also due later in the day. On Wednesday, ACC, HDFC Life, Mastek and Mindtree declared their Q4FY18 results.
In the global markets, resource stocks were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014, though the potential boost to inflation globally also pressured fixed-income assets.
Resource stocks were the big winners driving Australia's main index up 0.6 per cent. Japan's Nikkei gained 0.4 per cent, led by a 1.8 per cent rise in basic material stocks.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.15 per cent, while E-Mini futures for the S&P 500 edged up 0.1 per cent.
Overnight on Wall Street, the S&P 500 eked out a small gain, while the Dow declined after a volatile trading session on Wednesday, with a weakness in sectors like consumer staples and financials offsetting strong gains in the energy and industrial indices. Trading was choppy, with the Dow swinging between positive and negative territories, while the S&P 500 gave up most of its gains in the last few minutes of trading.
(with wire inputs)
