Domestic cues are expected to take centre stage today as Infosys will announce results, which will also mark the beginning of the Q4FY12 earnings season.
Global stocks surged on Thursday after stronger-than-expected demand at an Italian bond auction eased worries about the euro zone debt crisis and talk that economic growth in China may top forecasts. The Dow Jones industrial average and the Standard & Poor's 500 Index gained around 1.4 per cent each.
In Asia, Japan's benchmark Nikkei average opened up 0.93 per cent at 9,613 on Friday, while the broader Topix gained 0.81 per cent to 816.
Back home, the overall outlook indicates that the Nifty may test its 200-day DMA at 5,150 in the near term, technical analysts say. At 710 am Indian Standard Time, the SGX Nifty was trading at 5,341 levels – up 56 points.
Among individual stocks, watch out for Infosys and Development Credit Bank (DCB) as they announce their Q4FY12 results today.
MRPL has shut down two-third of its 15-million tonne refinery in Karnataka due to shortage of water.
Moody's has downgraded the local currency ratings of ONGC and GAIL, as a reflection of the risks that these two entities share with the Indian government.
Also watch out for Max India as reports suggest that Japan's Mitsui Sumitomo has bought 26 per cent in Max New York Life for 2,731 crore rupees.
Top Section
Explore Business Standard