BSE Sensex was trading 357 points higher at 73,446 points. The business of Wipro and UltraTech Cement is seeing a growth of more than 2 percent.
VK Vijayakumar, chief investment strategist at Geojit Financial Services, said the biggest positive for the market in the near term is that fears over Israel-Iran tensions are unlikely to increase. The fall of Brent crude from $90 to $87 is confirmation of this expected reduction.
However, higher US bond yields are likely to weigh on the market, leading to further selling by FIIs. He said, since large-caps account for the lion's share of FII AUM, large-caps will remain under pressure despite relatively fair valuations.
He said selling by FIIs will provide an opportunity for investors to gradually accumulate high-quality large caps like HDFC Bank, which has reported good fourth quarter results with improving margins.
"Auto, capital goods and cement companies will report good fourth quarter results and the market can be expected to react positively to these numbers," he said.
Deepak Jasani, head of retail research at HDFC Securities, said Asian shares opened mostly higher this week as the focus remained on corporate earnings and economic data to inform central bank policy direction.
VK Vijayakumar, chief investment strategist at Geojit Financial Services, said the biggest positive for the market in the near term is that fears over Israel-Iran tensions are unlikely to increase. The fall of Brent crude from $90 to $87 is confirmation of this expected reduction.
However, higher US bond yields are likely to weigh on the market, leading to further selling by FIIs. He said, since large-caps account for the lion's share of FII AUM, large-caps will remain under pressure despite relatively fair valuations.
He said selling by FIIs will provide an opportunity for investors to gradually accumulate high-quality large caps like HDFC Bank, which has reported good fourth quarter results with improving margins.
"Auto, capital goods and cement companies will report good fourth quarter results and the market can be expected to react positively to these numbers," he said.
Deepak Jasani, head of retail research at HDFC Securities, said Asian shares opened mostly higher this week as the focus remained on corporate earnings and economic data to inform central bank policy direction.
