Market Beeps - Markets seen opening positive on global cues
UAE Exchange Etrade
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Markets are expected to open on a positive note tracking gains in Asian shares.
Domestic investors are likely to focus on the fourth quarter earnings season, which begins with Infosys results on Friday, say analysts. Global risk appetite was firm after import data from China signaled rising domestic demand to drive the world's second-largest economy.
Asian shares traded positive in opening deals as China saw a mild trade deficit of $884 million in March as a forecast-busting 14.1 percent year-on-year surge in imports eclipsed export growth of 10 percent, signalling that domestic demand was gathering the steam needed to drive economic recovery.
Overnight, US stocks surged for second straight day aided by China data. The Dow Jones industrial average ended up 128.78 points, or 0.88 percent, at 14,802.24. The Standard & Poor's 500 Index was up 19.12 points, or 1.22 percent, at 1,587.73. The Nasdaq Composite Index was up 59.40 points, or 1.83 percent, at 3,297.25.
Stock in News:
Cairn India produced 3.6% less crude oil than the stated target of 175,000 barrels per day from its prolific Rajasthan block in the fourth quarter ended March 31.
Mumbai-based utility vehicle major Mahindra & Mahindra said that the company experienced stoppage of work at its engine making plant in Igatpuri, Maharashtra.
Jindal Stainless Ltd (JSL) and Posco signed a strategic pact that includes cooperation in South Korean major's $12 billion steel mill project in Odisha and joint exploration for a nickel facility in Indonesia.
Market Beeps of the day attached.