Markets are likely to open higher on the back of positive global cues and robust FII buying into the Indian markets. Early indicator, SGX Nifty was up 12 points at 8,412.
For the day, the market participants will keep watch on the IIP data for September and CPI data October expected later today.
FII were buyers in yesterday’s trade to the tune of Rs 458.04 crore while DIIs were sellers to the tune of Rs 516.98 crore.
In Asia, Japanese stocks jumped on Wednesday as investors cheered reports that Prime Minister Shinzo Abe will delay a planned sales tax rise to rejuvenate Japan’s fragile economic recovery, and call a snap election to secure his political position.
The Nikkei benchmark gained 1.4 percent to 17,356.75, hitting fresh seven-year highs. Barring Taiwan Weighed and Shanghai Composite, all other markets were in green.
Overnight, the Dow and S&P 500 eked out a fifth session of record closing highs on Tuesday, barely extending the market’s recent rally in light volume as consumer discretionary shares gained. Dow Jones industrial average rose 1.16 points, or 0.01 percent, to 17,615, a record high close. The S&P 500 gained 1.42 points, or 0.07 percent, to 2,040, also a new record. The Nasdaq Composite added 8.94 points, or 0.19 percent, to 4,661.
Stocks to Watch
DLF: The Securities Appellate Tribunal on Tuesday admitted the plea of DLF’s promoters against a Sebi order that had barred the real estate major and related entities from accessing capital markets.
Reliance Power: Commissioned its 100-megawatt concentrated solar power (CSP) project at Jaisalmer, Rajasthan, on Tuesday. This is the biggest CSP in the world.
IPCA Labs: Company lowers its sales and margin expectations
Persistent Systems: Announced the formation of Persistent Computing Institute to strengthen the teaching of computer science in engineering programs
Tata Motors & Mahindra and Mahindra: Announced price increases by 1-2% citing higher input costs.
Tata Steel, Aditya Birla Nuvo, JP Associates will be in spotlight ahead of its Q2 numbers today.
Prestige Estates, Shalimar Paints, Bayer CropScience, Jain Irrigation will be reacting to its Q2 numbers.