Stocks are likely to witness a gap up open marginally though, followed by a volatile ride on positive Q3 results from TCS. Wall Street closed for trade on Monday on account of Martin Luther King holiday.
Among noted companies that declare Q3 today include DCB, GAIL, Indiabulls Real Estate, Mindtree, Petronet, Tata Elxsi.
News Bytes
* Dandekars in talks to sell 15% stake in Camlin.
* Infosys told to pay Rs 400-cr tax on onshore sales
* Essar Oil posts profit of Rs 273 crore
* Larsen & Toubro's order inflow drops 25% in Q3
* TCS profit jumps 30% on all-round growth
* Axis Bank net rises 36% on robust credit growth
* IL&FS may infuse Rs150 crore in Maytas Prop
* Parsvnath targets Rs13,000 cr sales
* GAIL scouts for US shale gas assets; may invest $500 mn
* JSW buys Bellary Steel for Rs 2.1 bn
Nifty - Struggling to inch up
Yesterday's session indicate markets are beaten down on every attempt to rise. Disecting FII data yesterday's suggests a positive move today. FIIs bought nearly 600 cr worth Index Futures yesterday while sold 400 cr worth Index options.
We might find a bottom later this week.