 "Markets may open flat; pharma shares to be in focus")
Benchmark indices may open flat tracking the caution in select Asian markets ahead of the release of US nonfarm payrolls data though a rebound is likely later as overall global cues remain firm. The assertion by European Central Bank to push the envelope on unconventional monetary measures to boost the sluggish euro economy has uplifted sentiments as such a move will bring more liquidity to the global equity market.
At 8:30AM, the early indicator SGX Nifty was flat at 8,405.50.
On Wednesday, November 5, FIIs were net buyers to the tune of Rs 1,030.85 crore.
Following a day of volatile trading US markets closed higher boosted by the the fall in US jobless claims and the statement by the European Central Bank that it would take would take more policy action if needed to boost a struggling euro zone economy. Dow and S&P 500 reached fresh record closing highs gaining close to 0.4% each. Nasdaq Composite too gained around 0.4%.
Stocks to watch
L&T will be in focus ahead of the release of its results later today.
Ranbaxy shares are likely to come under pressure as the US health regulator has revoked its tentative approvals for its generic anti-viral drug and stomach and esophagus problems treatment tablets.
DLF shares may move higher after gaining interim relief from SAT (Security Appellate Tribunal).
Ashok Leyland shares are likely to experience a lot of buying on the back of strong quarterly results posted by the company. The company posted a profit after six quarters and its commercial motor vehicles business is also turning positive.
Escorts shares may come under pressure as the company posted weak results for the July-September quarter. The one time expense of Rs 31 crore on account of VRs to its employees weighed heavily on company's performance. Also, the auto and construction ancillaries of the company continue to struggle.
At 8:30AM, the early indicator SGX Nifty was flat at 8,405.50.
On Wednesday, November 5, FIIs were net buyers to the tune of Rs 1,030.85 crore.
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With profit booking slowing down, Nikkei has rebounded aided also by a weaker yen and is trading with a gain of around 0.6%. On the other hand, Hang Seng has declined around 0.5% while Shanghai Composite is trading flat. Some caution ahead of the key U.S. nonfarm payrolls report later in the session is likely to weigh on the markets.
Following a day of volatile trading US markets closed higher boosted by the the fall in US jobless claims and the statement by the European Central Bank that it would take would take more policy action if needed to boost a struggling euro zone economy. Dow and S&P 500 reached fresh record closing highs gaining close to 0.4% each. Nasdaq Composite too gained around 0.4%.
Stocks to watch
L&T will be in focus ahead of the release of its results later today.
Ranbaxy shares are likely to come under pressure as the US health regulator has revoked its tentative approvals for its generic anti-viral drug and stomach and esophagus problems treatment tablets.
DLF shares may move higher after gaining interim relief from SAT (Security Appellate Tribunal).
Ashok Leyland shares are likely to experience a lot of buying on the back of strong quarterly results posted by the company. The company posted a profit after six quarters and its commercial motor vehicles business is also turning positive.
Escorts shares may come under pressure as the company posted weak results for the July-September quarter. The one time expense of Rs 31 crore on account of VRs to its employees weighed heavily on company's performance. Also, the auto and construction ancillaries of the company continue to struggle.