U.S. Stocks finish higher - Nirmal Bang

U.S. stocks finished higher after Q2 earnings out of the financial sector beat expectations, though remaining uncertainty as to when the Fed Reserve will scale back stimulus measures hampered gains.

Asian stocks rose after a report showed China's economy grew 7.5% in the second quarter, matching economists' estimates. Japanese markets are closed today.

US Fed's decision to continue with the easy-money policy and better-than-expected Q1 results from Infosys kept the market tempo upbeat for the 3rd straight week as both the key indices surged by over 2% to end at nearly 6-week high. The market was impacted after the rupee hit a record low of 61.21 to a dollar on possible winding down of the Fed's $85 bn a month bond-buying prog. India's trade deficit in June narrowed to $12.24 bn from a 7m high, helped by a slowdown in gold imports. This is likely to cushion the current account balance and the beleaguered rupee as well. Market is expected to open on a flattish note and may see some profit booking during the day.

Source : Equity Bulls

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