BSE Sensex rises ahead of ICICI, Axis Bank results

Reuters Market Eye - The BSE Sensex and the Nifty gain, snapping two day losses, as banking stocks advance on expectations for good fiscal Q4 earnings.




* ICICI Bank (NSI:ICICIBANK.NS - News) up 1.5 percent ahead of results later on Friday.
* Axis bank (AXBK.NS), which also reports on Friday, advances 1.7 percent.
* HDFC Bank (NSI:HDFCBANK.NS - News) reported earnings on April 18, beating forecasts with a 30.3 percent rise in net profit to 14.53 billion rupees.
* The benchmark 30-share BSE index 0.45 percent, while the 50-share NSE index gains 0.48 percent.

Comments

Post a Comment

Popular posts from this blog

Clinton confronts dissident case ahead of China talks

Image
Secretary of State Hillary Clinton arrived in  China  on Wednesday for top-level talks that risk being upstaged by the fate of a blind dissident whose supporters say is under U.S. protection in Beijing after escaping house arrest. Washington has not even commented on the whereabouts of the dissident, legal activist Chen Guangcheng, whose plight has overshadowed the Strategic and Economic Dialogue due to begin on Thursday. The United States hopes the talks will encourage greater Chinese cooperation on trade as well over  Iran , Syria, North Korea and other international disputes. Chen's friends and supporters have said he is probably inside the fortress-like U.S. embassy in northeast Beijing. The official silence about his fate from both Washington and Beijing has shown their eagerness to contain friction over his case. Relations could easily go awry, especially with the ruling Communist Party wrestling with a leadership scandal and a looming power succession. "O
Read more

Euro gains on ECB; stocks up with economic data

Image
The euro rose on Monday on expectations of higher euro-zone interest rates while world stocks eked out gains as concerns about Middle East and Japan cast a cloud despite positive economic data. The euro rose above USD 1.41 after the president European Central Bank president Jean-Claude Trichet said inflation is above the bank's price stability target, adding to expectations that interest rates could rise as early as next month. The European currency erased most of its gains later, however, pressured by worries that the defeat of German Chancellor Angela Merkel's party in a key state election means she will have less leeway to financially support debt-stricken members of the euro zone. Data showing that US consumer spending rose for an eighth straight month rise supported equities. US consumer spending rose slightly more than forecast as households tapped their savings to cover higher food and energy prices, while inflation accelerated at its fastest pace sinc
Read more

MPs say Rupert Murdoch unfit to run company

Image
Rupert Murdoch is not fit to run a major international company, MPs said on Tuesday, finding him ultimately responsible for the illegal phone hacking that has corroded his global media empire and damaged the political establishment. But it split along party lines, with members from Prime Minister David Cameron's Conservative Party voting against the report, saying they did not agree with its view that the Australian-born Murdoch was not fit to run a major company. Cameron is facing criticism ahead of local elections this week that he was too close to the media tycoon, who won government approval to take over British pay-TV operator BSkyB, before dropping the bid when the scandal broke. The report said there had been huge failures in corporate governance which raised questions about the competence of Rupert's 39-year-old son, James. "News International and its parent News Corporation exhibited wilful blindness, for which the companies' directors -includin
Read more