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MARKET LIVE: Indices set for positive start; TCS Q1 results key event today
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MARKET LIVE | Markets | Tata Consultancy Services
SI Reporter |
Last Updated at July 9, 2020 07:53 IST
EVENT HIGHLIGHTS
The Indian markets are set for a positive opening on Thursday after a rally in US shares overnight and similar trends in their Asian peers.
A major focus today will be on TCS which is scheduled to kick-off the April-June 2020 earnings season for IT companies today. According to analysts, the company may post up to 7 per cent decline in revenue in constant currency (CC) terms on a sequential basis owing to anticipated pressure in multiple segments due to the ongoing Covid-19 crisis. READ MORE
Besides these, investors will also keep an eye on the newsflow regarding China-US tensions over Tibet. They will also track the Rupee's trajectory and oil price movement.
Results today
Apart from TCS, 19 other companies including Arvind Fashions, Sadbhav Engineering are set to announce their quarterly numbers today.
Apart from TCS, 19 other companies including Arvind Fashions, Sadbhav Engineering are set to announce their quarterly numbers today.
ICICI Bank might trade actively in today's session after its board approved plan to raise upto Rs 15,000 crore to support business growth and create a buffer to absorb any shocks from economic disruption caused by the Covid-19 pandemic.
Global cues
In the US, technology stocks lifted the Nasdaq 1.44 per cent on the index's way to its fourth record closing high in five days. The Dow Jones rose 0.68 per cent and the S&P 500 gained 0.78 per cent.
Consequently, Asian indices also ticked up in Thursday's early deals. Australian ASX 200 was last up 0.9 per cent while Japan's Nikkei added 0.3 per cent.
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