 "Wall St fuels Asian rally: 10 things to know before opening bell")
Global cues:
Asian marketsare trading higher. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7 percent, recovering a chunk of last week’s 1.1 percent loss – the biggest in two months – that was driven by concerns that China may tighten policy to keep prices under control.
Over the weekend, US markets closed at record highs. The S&P 500 gained 0.44% to 1,759 on strong sales reports byAmazon.com Inc.andMicrosoft Corp.
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The Federal Reserve meeting next week is not on the minds of as many people as when it met in September, but its decision to do nothing last month is providing the fuel for more share gains in Apple and Facebook, which report results next week
The dollar licked its wounds in early Asian trading on Monday, steadying against major counterparts ahead of the U.S. Federal Reserve’s policy-setting meeting following a testing week which saw it tumble to two-year lows against the euro.
Business/Stock news:
Hindustan Unilever will be in focus today. The company reported better than expected 13% rise in net profit for the September quarter, driven by volumes and higher revenue from personal products.
SpiceJetis planning a gradual global expansion. Along with increasing frequencies on certain foreign routes, the airline is aiming to add two more global destinations, Dammam and Kuala Lumpur, by March next year.
The big result expected today will be Maruti Suzuki which is expected to be a weak quarter operationally with margins seen 140 bps lower sequentially due to a sharp increase in discounts, lower share of diesel vehicles and higher import costs. Despite rising volumes, revenues are seen flat owing to an adverse product mix.
Economy news:
The Reserve Bank of India (RBI) will present the second quarter monetary policy review tomorrow. With inflation inching up, the central bank may be forced to raise interest rates again.
Global retail giant Walmart has resumed its lobbying with the US lawmakers on matters related to FDI in India and it spent $1.5 million on about 50 specific issues, including those related to Indian market during the last quarter.