MARKET LIVE: SGX Nifty soars 100 pts; HUL, Bajaj Auto to report Q1 results
: A pullback rally is on the cards for Dalal Street as it looks to resume trade after a one-day gap, thanks to a rally in US equities over the last two days.
On Wednesday, Dow Jones Industrial Average rose 0.83%, the S&P 500 gained 0.82% and the Nasdaq Composite added 0.92%.
Along expected lines, Asian peers followed suit, tracking the optimism in US stocks. Australia’s S&P/ASX 200 index rose 0.9%, South Korea’s Kospi index increased 0.9% while Japan was closed for a holiday. S&P 500 and Nasdaq futures also traded firm.
Amid this setup, SGX Nifty was trading 105 points higher at 15,737 around 7.40 am. Volatility in trade is likely on account of stock-specific moves amid quarterly earnings and weekly derivatives expiry.
Earnings today
Forty-four companies including Hindustan Unilever, Bajaj Auto, Ultratech Cement, Biocon, Hindustan Zinc, IIFL Securities, IndiaMART InterMESH and Wockhardt will release their quarterly earnings today.