1/29/2012 10:17 PM ET
(RTTNews) - Indian shares are seen opening lower on Monday, mirroring weak Asian cues as China didn't cut banks' reserve requirements that some economists had predicted would come before the Lunar New Year holiday and data showed the world's largest economy expanded less than forecast in the fourth quarter.
Also, caution prevails ahead of a European summit in Brussels later in the day.
Closer home, Allahabad Bank, Balrampur Chini, Havells India, Indian Bank, LIC Housing Finance, Novartis India, Oriental Bank and Punjab & Sind Bank are among the companies that will unveil their quarterly earnings today.
Meanwhile, BHEL, India's largest capital goods manufacturer, reported a 2 percent increase in quarterly profit, missing analysts' estimates.
U.S. stocks turned in a lackluster performance before closing on a mixed note Friday, as investors digested a report showing somewhat weaker than expected U.S. economic growth in the final three months of last year.
However, an upbeat report on consumer sentiment in January helped to offset some of the negative sentiment generated by the GDP report. The tech-heavy Nasdaq closed in positive territory, while the Dow lost 0.6 percent and the S&P 500 shed 0.2 percent.
by RTT Staff Writer
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