Pre Session: Infosys Q3 results beat market expectations Analysis for Jan 12, 2012

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The January rally may continue today as IT bellwether Infosys has posted very good third quarter results that have beaten the market expectations. Net profits in the third quarter increased sequentially by 24 % to Rs 2372 crore. The revenues during this quarter were 9298 crore and the EBIT margin is a stellar 31.17%. After the good results of IndusInd and Infosys, the third quarter earnings announcement season has started on a positive note and Indian markets may go up further.

From the foreign markets, Indian markets are getting weak cues today. The Asian markets have opened on a mixed note on weak global cues from the European and US markets. The US markets ended on a mixed note yesterday in the absence of any major developments or corporate announcements. The decline in Euro against the dollar kept market sentiments somber while some cheer was added by Federal Reserves" statement that the US economy is recovering steadily. Most of the European Markets ended slightly in the red yesterday after market sentiments were once again depressed by the decline in Euro.

The net investments by FIIs on 11th January, 2012 in Indian capital markets stood at Rs 982.90 crore. The net FII investments were positive yesterday.

The gross purchases by the FIIs in the Indian equity markets were of Rs. 2783.10 crore. The gross sales were of Rs.2378.00 crore. The net investment in the equity markets by FIIs on January 11th, 2012 stood at Rs 405.20 crore.

The gross purchases by the FIIs in the Indian debt markets were of Rs 1438.00 crore. The gross sales by FIIs were of Rs 860.30 crore. The net investment by the FIIs in the debt markets stood at Rs 577.70 crore.

Today, the Asian markets have opened on a mixed note on weak global cues from the European and US markets. The Asian markets are also encouraged by the expectation that China may ease its monetary policy . At 7.40 A.M. Indian time, the Nikkei 225 was down 58.74 points and was at 8389.14. The Hang Seng was up 30.71 points and was at 19182.65. The Taiwan weighted was up 7.28 points and was at 7196.92. The Shanghai composite was up 10.40 points and was at 2275.34.

The US markets ended on a mixed note yesterday in the absence of any major developments or corporate announcements. The decline in Euro against the dollar kept market sentiments somber while some cheer was added by Federal Reserves" statement that the US economy is recovering steadily. The Nasdaq closed at 2710.76, gaining 8.26 points over the previous day"s closing. The Dow Jones Industrial lost 13.02 points and closed at 12449.45. The S & P 500 gained 0.40 points and closed at 1292.48.

Most of the European Markets ended slightly in the red yesterday after market sentiments were once again depressed by the decline in Euro. The DAX lost 10.64 points and closed at 6152.34. The FTSE 100 lost 25.88 points and closed at 5670.82. The CAC was down 5.96 points and closed at 3204.83.

Gold futures ended higher by 0.4 % to close at $1639.30 per ounce, while silver prices gained 0.3 % and closed at $ 29.92 per ounce. Crude oil futures lost 1.2% to close at $ 100.96 per barrel.

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