Nifty India stock futures expected to open lower july 25 2011

Indonesia stock info - Nifty India stock futures expected to open lower july 25 2011 ; The 50-share Nifty index is expected to open lower on Monday tracking negative Asian markets while investors will closely watchReliance Industries as the benchmark heavyweight is expected to declare itsquarterly results later today.

The government on Friday, Committee on Economic Affairs gave its consent to UK energy major BP Plc taking 30% interest in 21 out of 23 acreages, which includes Reliance Industries KG-D6 gas fields owned by Mukesh Ambani for over $7 billion.

Reliance Industries Ltd net profit for the quarter is set to grow 16.6% YoY to Rs 5,658 crore for the June 2011 quarter while revenue will grow 28.7 % to Rs 74,960 crore, according to the average of nine broking firms' estimates polled by ET Intellengence Group.

"Indian markets are expected to carry this upbeat mood going into the next week and the Nifty is expected to trade with a positive bias", says Kapil Mokashi, Senior Manager Equity Sales at Sharekhan Ltd.

"Technically, good volumes & a positive weekly close means that the Nifty is expected to come out of its trading range & we could move towards 5750-5800. On the lower side 5500-5530 will continue to act as strong support for the markets", adds Kapil.

U.S. stocks climbed on Thursday as signs of progress on the U.S. debt talks and positive news from Europe on its own debt crisis boosted investor sentiment.

US stocks gained on Friday lifted by strong earnings and a new bailout plan for Greece to contain Europe's debt crisis.

The Dow Jones industrial average dropped 43.25 points, or 0.34 percent, to 12,681.16. The Standard & Poor's 500 Index added 1.22 points, or 0.09 percent, to 1,345.02. The Nasdaq Composite Index gained 24.40 points, or 0.86 percent, to 2,858.83.

In early trade Hong Kong was trading 0.57 pc lower, Tokyo was trading 0.6 pc down, Seoul was trading 0.6 pc lower and Shanghai slipped 0.90 pc.

At 08:30 AM, Nifty India stock futures in Singapore were down 24.50 points at 5617, indicating a lower opening in the domestic market.

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