MARKET LIVE: Indices may see gap-up start; all eyes on Economic Survey 2021

: Benchmark indices look set to return to their winning ways after five days of relentless bear hammering, tracking firm cues from global peers. Meanwhile, investors would also react to the

that will be tabled in the Parliament today, Q3 numbers and stock-specific triggers as the session would progress.

As per a Bloomberg report, India is predicting that the economy will expand 11 per cent in the year starting April on hopes that vaccine roll out will contain the pandemic, while low-interest rates and measures to lure investment will spur business activity.

The forecast for next year is in line with the International Monetary Fund’s estimate for 11.5% expansion.

Earnings today

Cipla, Dabur, Tata Motors, Tech Mahindra, IndusInd Bank, DRL and are among 27 firms set to post their December quarter numbers today.  will post a muted growth in its December quarter profit and revenue on a sequential basis, believe analysts. However, on a yearly basis, both figures are expected to decline. READ MORE

Global cues

In the overnight session, US stocks closed higher, bouncing from sharp losses in the prior session, thanks to a broad rally as earnings season got off to a strong start and fears lessened around hedge funds selling long positions to cover shorts. A surprise drop in jobless claims also boosted the sentiment.

The Dow Jones Industrial Average rose 0.99 per cent, the S&P 500 gained 0.98 per cent, and the Nasdaq Composite added 0.5 per cent.

Tracking the gains on Wall Street, Asian too staged a rebound. Japan’s Topix index climbed 0.3 per cent, South Korea’s Kospi index added 0.7 per cent, and Australia’s S&P/ASX 200 Index rose 0.9 per cent.

(With inputs from Reuters)

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