Sensex, Nifty may open higher; Zee Entertainment, Maruti Suzuki in focus
The domestic stock markets –Sensex and Nifty–are likely to open higher on Monday, tracking positive global cues. The SGX Nifty was trading 16 points or 0.15% higher at 10,810.50 points this morning, indicating a higher opening for Sensex and Nifty. Asian stocks advanced on Monday as Wall Street rallied after a deal was announced to reopen the U.S. government following a prolonged shutdown that had shaken investor sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.2 percent. South Korea’s KOSPI edged up 0.2 percent, New Zealand stocks were up a touch, while Japan’s Nikkei bucked the trends and eased 0.2 percent.
Back home, Maruti Suzuki shares will assume focus after the firm reported results below street estimates on Friday. Maruti Suzuki share price plunged by more than 8% to Rs 6,465, to emerge as the biggest loser in the BSE Sensex on Friday. Shares of Dish TV and Zee Entertainment will also be in focus after the firm said in its conference call that it won’t provide any further pledge to lenders. The stocks had plunged in trade on Friday afternoon, after reports that promoter Essel Group’s name has emerged in a demonetisation related probe by SFIO.
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