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are preparing to open higher for a second straight day on Tuesday, taking cues from string overnight trade in the US.
Markets in the Asia-Pacific traded higher as Lunar New Year holidays were observed in most of the region. In Australia, the S&P/ASX 200 rose 0.17 per cent in morning trade, while the Nikkei 225 rose 1.29 per cent in Japan. At 7:20 AM, SGX Nifty was 81 points higher at 18,227 levels.
Markets in China, Hong Kong, Taiwan, South Korea, Malaysia and Singapore are closed for a holiday.
Overnight, the Nasdaq Composite rallied 2 per cent in the US; S&P 500 1.2 per cent; and Dow Jones 0.76 per cent. Investors will track US’ manufacturing and services PMI data, due to be released later today.
Q3 earnings today
Close to 80 companies are scheduled to report their December quarter results today including Cartrade Tech, Colgate Palmolive, HDFC AMC, Maruti Suzuki India, SBI Card, and TVS Motor Company.
India’s largest domestic passenger vehicle maker – Maruti Suzuki – may see sequential decline in net profit and revenue due to moderation in sales volume in Q3. The net profit is expected to increase up to 92 per cent YoY, but decline up to 7.7 per cent per cent QoQ, in the range of Rs 1,794.4 crore to Rs 1,940 crore. READ PREVIEW HERE
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