Seven stocks to watch in today's trade

Markets are likely to open on a flat note on account of muted global trends. Early indicator, SGX Nifty was up two points at 0830 hrs.

In Asia, action in equity markets was more muted with many indices already having come a long way. MSCI’s broadest index of Asia-Pacific shares outside Japan was steady at a three-year peak.

The MSCI index of emerging markets has also been on a roll to reach its highest since May 2013, in part on speculation the ECB’s increasingly aggressive easing will encourage fund flows to the emerging world.

Japan’s Nikkei edged up 0.4% while the South Korean market hardly budged.

U.S. stocks finished nearly flat on Tuesday, although the Dow eked out another record closing high as utilities’ shares fell while 10-year bond yields hit their highest level in a month.

It was the Dow’s fourth straight record closing high. The S&P 500, though, broke its four-day string of record high finishes.

The benchmark S&P 500 moved within less than a 7-point range, continuing its recent tight trading pattern.

The Dow Jones industrial average rose 2.82 points or 0.02%, to 16,945.92, a record closing high.

The S&P 500 dipped 0.48 of a point or 0.02%, to finish at 1,950.79. The Nasdaq Composite added 1.75 points or 0.04%, to 4,338.

Stocks to Watch

L&T Finance Holdings: Parent company L&T  proposes to sell 1.6% stake in L&T Finance for about Rs 204 crore.

United Bank of India: Has been allowed by the Reserve Bank of India to consider loan proposals up to Rs 200 crore from ‘AAA’-rated companies.

Coal India: To foray into into fertiliser and chemical production.

Idea Cellular: Will be issuing upto 5,18,38,540 Equity Shares of Rs. 10/- each for cash at a price of Rs. 144.68/- per equity share aggregating to approx Rs. 750 crore, on a preferential basis to Axiata Investments.

Apollo Tyres, Kotak Mahindra Bank, TVS Motors may see an uptick post upgrades by the likes of JP Morgan, Deutsche Bank.

SGX Nifty

sgxnifty.org@imediaone.com

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