Pre-Markets: Nifty likely to test 6,350

Following positive global trends, the markets are likely to open higher with the Nifty testing the 6,350 levels in today’s trade.

At 0830 hrs, the SGX Nifty was up 23 points at 6,373.

Overnight, The S&P 500 finished almost flat on Wednesday, a day after closing at an all-time high, as investors shrugged off soft data on jobs and the services sector while keeping an eye on developments in Ukraine.

The Dow Jones industrial average fell 0.22%, to end at 16,360.The S&P 500 dipped just 0.01%, to finish at 1,874, just below its record closing high on Tuesday at 1,874. The Nasdaq Composite added 0.14%, to close at 4,358.

Following US market cues, Asian markets were trading higher with Hong Kong’s Hang Seng up 0.4%, Singapore’s Straits Times up 0.2% while South Korea’s Seoul Composite was flat. Japan’s Nikkei index was trading 0.3% higher at 14,949.50

Stocks to Watch

Sanofi India: French drug-maker Sanofi filed patent infringement petition against Glenmark on cardiac drug Multaq, on three counts.

Manappuram Finance: Leading gold loan lender has come out with another public issue of secured, redeemable, non-convertible debentures aggregating to Rs 100 crore to finance capital expenditure.

Tata Power: The board will be meeting on Saturday to finalise the proposed rights issue to raise Rs 2,000 crore.

AstraZeneca Pharma India: The Indian arm of AstraZeneca Pharmaceuticals AB, deferred its delisting from stock exchanges, which was proposed last week by its parent company.

SGX Nifty

sgxnifty.org@imediaone.com

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