Markets are likely to see a positive opening on account of improving macros and positive global cues. Early indicator, SGX Nifty was up eight points at 8,422.
The macro data which came in after yesterday’s trading hours brought in double cheer as the IIP for the month of September came in at 2.5% versus 0.4% in August and the CPI inflation for the month of October slowed to 5.52% versus 6.46% in September.
In Asia, shares slipped slightly on Thursday as investors looked to a run of Chinese economic indicators due later in the day, while Wall Street shares ended a five-day winning streak as falling oil prices hurt energy stocks.
MSCI’s broadest index of Asia-Pacific shares outside Japan ticked down 0.1% with resource-heavy Australian shares falling 0.5%.
Japan’s Nikkei fell 0.3% after big gains in the previous two sessions on expectations that Prime Minister Shinzo Abe will postpone a planned tax hike next year to support the economy.
Overnight, the Dow and S&P 500 ended slightly lower on Wednesday, breaking their five-day streak of record closing highs as energy and utility shares lost ground, while the Nasdaq climbed.
The Dow Jones industrial average fell 2.7 points, or 0.02%, to 17,612, the S&P 500 lost 1.43 points, or 0.07%, to 2,038 and the Nasdaq Composite added 14.58 points, or 0.31%, to 4,675.
Stocks to Watch
Index names like Tata Steel and Hindalco will be under spotlight post the Q2 numbers announced yesterday.
Some of teh other companies reacting to the numbers will be BPCL , Oil India, RInfra, RPower, DLF J&K Bank, JP Associates, Eicher Motors, Nalco, Marico Kaya and BGR Energy.