Nifty futures breach 6,100; premium over spot expands

Mon Jan 21, 2013 4:03pm IST

People watch a news channel displayed on a large screen on the facade of the Bombay Stock Exchange building, February 28, 2007. REUTERS/Arko Datta/Files

People watch a news channel displayed on a large screen on the facade of the Bombay Stock Exchange building, February 28, 2007.

Credit: Reuters/Arko Datta/Files

Related Topics

Stocks

   

Reuters Market Eye - January futures contract on India's 50-stock index breached 6,100 level earlier in the day as the Nifty rose, led by gains in Reliance Industries (RELI.NS).

This marked the first time a near-month index futures contract rose over 6,100 level since January 6, 2011.

The premium over spot index expanded to 15 points compared with 10 points on Friday, which dealers attribute to confidence in the earnings season.

Among heavyweight stocks -- Reliance, ITC (ITC.N), Infosys (INFY.NS), Tata Consultancy Service (TCS.NS) have beaten their earnings estimates for the December quarter.

Blue chip earnings this week include Hindustan Unilever (HLL.NS) on Tuesday, Larsen & Toubro (LART.NS) on Thursday and Maruti Suzuki (MRTI.NS) on Friday.

(Reporting by Abhishek Vishnoi)

FILED UNDER:

"India's Daughter"

Reuters Showcase

Microfinance

Microfinance

Funding the unfunded: India helps small business borrow to grow  Full Article 

Insurance Sector

Insurance Sector

UK healthcare firm Bupa sees strong growth in India  Full Article 

Sensex Rises

Sensex Rises

Sensex edges up; consumer and healthcare stocks rise  Full Article 

Market Eye

Market Eye

FTSE adds nine Indian firms as large-caps in Asia-Pacific ex-Japan index   Full Article 

Indian Ocean Diplomacy

Indian Ocean Diplomacy

PM Modi to ramp up help for Indian Ocean nations to counter China influence  Full Article 

ECB Bond-Buying

ECB Bond-Buying

ECB raises growth forecasts, to start printing money next week  Full Article 

China Economy

China Economy

China signals "new normal" with lower annual growth target  Full Article 

Pharma Sector

Pharma Sector

Panel recommends waiving late-stage trials for some drugs  Full Article 

E-commerce

E-commerce

China backs e-commerce expansion in win for Alibaba, JD.com  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage