Indian Equities end marginally higher on Monday - ICICI Bank : Treasury Research

Indian equities ended marginally higher today. Trade remained choppy amidst the rollover of positions ahead of the expiry of the August derivative contracts, due later this week. Metals, capital goods and pharma stocks rallied on the back of value-buying. However, losses in banking and automobile stocks offset most of the gains. The Sensex ended higher at 18,558.13 (+0.21%) and Nifty ended at 5476.50 (+0.09%).

The BSE Bankex ended lower at 10,678.66 (-1.04%). SBI ended lower at INR 1557.25 (-0.14%) and ICICI Bank ended down at INR 830.35 (-2.58%).

Asian stocks ended mostly higher today, as risk sentiment turned positive amidst the paring of bets on an early tapering of Fed's QE. Shanghai Composite led the region's gains, ending up by 1.90% amidst positive corporate earnings results. Meanwhile, China's state statistics bureau said that the economy is showing signs of stabilization and is on track to achieve the targeted 7.5% YoY GDP growth in 2013, there aiding sentiment. Hang Seng followed suit, closing higher by 0.65%. Kospi ended higher by 0.95%, aided by gains in technology stocks while Australia's ASX closed higher by 0.23%. Nikkei, however, ended lower by 0.18% as speculation of a possible sales-tax hike rose, following a comment in this regard by Economy Minister Amari.

Source : Equity Bulls

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