Cues to watch before markets open on Jan 22

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Cues to watch before markets open on Jan 22
Markets are expected to open marginally lower despite steady global cues. The SGX Nifty is down 13 points. Most of the Asian markets are trading higher despite a drop in the Dow Jones in the US. The Dow close lower after earnings in the US disappointed. US Treasuries also gained ground while the dollar strengthened against most currencies.

In individual stocks to watch out today, Colgate might see some reaction to its numbers, after the margins were lower than expected.

Housing finance major, HDFC would be volatile ahead of the institutions results to be declared later today. Analysts expect the institution to report PAT growth of around 10 per cent. L&T is also likely to see some action ahead of its results. Both, L&T and HDFC have a significant weight in the index.

It would also be interesting to see the movement in TCS. On Friday the stock fell more than 5 per cent and on Monday it climbed 5 per cent and on Tuesday it fell more than 2 per cent, suggesting immense volatility in the stock.

Also, watch out for mid cap stocks like Raymond and Mahindra and Mahindra Financial Services which declare their results today.

Thermax may also be volatile after the company reported a drop in its net profit. Also, keep an eye on banking stocks which rallied substantially in trade yesterday, exactly a week ahead of the Monetary policy.

Read more about: hdfc, sgx nifty, colgate
Story first published: Wednesday, January 22, 2014, 8:42 [IST]
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