BSE Sensex set for a firm start in 2011
03 Jan 11 11:13 AM
Money Control
The BSE Sensex should open higher on Monday, tracking mostly firm Asian peers, and driven by automobile companies after they reported a rise in December sales.
Tata Motors said its India sales rose 31% in December while Hero Honda said its bike sales jumped by a third.
Separately, Tata Motors raised prices of some vehicles on Saturday to counter what it said were mounting costs.
Top utility vehicles maker Mahindra & Mahindra logged a 42% rise in sales last month.
Patni Computer Services will be on the radar after US software company iGate said on Sunday it cancelled a news conference it had scheduled for Monday, at which it was expected to announce a deal with Apax Partners for a majority stake in the Indian firm.
The MSCI's measure of Asian markets other than Japan was up 0.6% by 0309 GMT. The Nifty India stock futures in Singapore were up 0.3%.
The main stock index rose 17.4% in 2010, performing better than the MSCI all-country world stock index in 2010 and were in line with the gains in the MSCI Emerging Markets Index.