Monday, November 29, 1999

BSE Sensex seen higher; Maruti, Jaiprakash eyed

News posted by www.newsinfoline.com

MUMBAI (Reuters) The BSE Sensex is set to open higher on Monday, mirroring the gains in Asian equities, and will be driven by earnings announcements.Maruti Suzuki will be in focus after the top car maker reported a surprise 20 percent fall in quarterly net profit on Saturday, hit by high raw material costs, an increase in royalty payments, and weakening of the euro.Engineering an construction firm Jaiprakash Associates will be watched after it reported late on Friday a forecast-beating 5 percent rise quarterly profit.Sterlite Industries, NTPC and Tech Mahindra are due to unveil their quarterly results on Monday.The MSCI's measure of Asian markets other than Japan as up 0.4 percent by 0259 GMT, while Japan's Nikkei was trading 1.2 percent higher.The Nifty India stock futures in Singapore were up 0.2 percent.On Friday, the 30-share BSE index rose 0.1 percent to 18,130.98 -- after hitting 18,237.56 -- its highest level since February 2008.(For more business news on Reuters India click http://in.reuters.com)
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