Markets are likely to make a positive opening tracking firm global cues. Investors will keep a watch on the last day of Q1 earning season.
At 800 hrs Indian Standard Time, the SGX Nifty was up 14 points at 7,753.
US stocks ended higher on Wednesday, with the Dow Jones industrial average returning to positive territory for the year, as surging biotech shares helped investors shrug off disappointing retail sales data.
Retail stocks capped the market’s gains after Commerce Department data showed that U.S. retail sales unexpectedly stalled in July, marking the weakest report since January. Macy’s Inc reported quarterly earnings that missed analysts’ estimates and slashed its full-year same-store sales forecast, driving the stock down 5.5% to $ 56.47.
Asian shares pushed higher on Thursday after a flood of soft economic data led investors to wager on a ceaseless fountain of stimulus from major central banks, sending bond yields tumbling across the globe.
An economic contraction in Japan, a shock fall in Chinese loans, a surprisingly dovish turn by the Bank of England and a sluggish reading on U.S. retail sales all combined to make any tightening in policy seem a very distant prospect.
STOCKS TO WATCH
Adani Power has bought Hyderabad-based Lanco Infratech’s Udupi power plant at an enterprise valuation of Rs 6,000 crore.
With Rs 38,000-crore net debt on its books, power utility Tata Power is mulling diluting its non-core investments to reduce the debt burden.
Oil & Natural Gas Corporation (ONGC), the country’s state-owned petroleum explorer and producer, reported a 19 per cent jump in net profit for the quarter ended June
IFCI plans to raise Rs 2,000 crore from bonds during the current financial year to fund business expansion.
Bharti Airtel may have to surrender excess spectrum in Mumbai service area as the company has marginally crossed maximum airwaves holding cap in the metro following its acquisition of a 4G company founded by US chip maker Qualcomm.