Market Outlook for the day – As we have Monetary policy review on Tuesday, RBI's stance on key rates will set the tone of the markets.
Bajaj Auto reported 9% increase in motorcycle sales at 2,67,841 units in July 2014. The company had sold 2,46,828 units in the same month last year. Exports were up 54% during the month at 1,69,755 units as compared to 1,10,023 units in July 2013.
Petronet LNG Ltd has reported a 30% drop in net profit for the first quarter of fiscal 2014-15. During the quarter, the company’s net profit stood at Rs156 crore as against Rs225 crore in the same quarter last year. Petronet’s net revenue stood at Rs10,161 crore as against Rs8,444 crore in the same quarter last year.
Results on August 05,2014: Bata, Hero MotoCo, NHPC, Tata Chemicals.
Economic Event on August 05,2014: RBI Monetary Policy
Key benchmark indices spurted and hit fresh intraday high in late trade as firmness in European and Asian stocks boosted sentiment. Fall in crude oil prices also aided up move on the bourses. Market moved in a narrow band during the session after opening higher and witnessed a sharp rise in mid-morning trade. It spurted once again and hit fresh intraday high in late trade. IT stocks led rally on the bourses. The market breadth indicating the overall health of the market was strong.