 "Weak opening likely; Pipavav Defence, Cairn India, Adani Power in focus")
Markets are likely to open lower, amid mixed global cues, as profit taking is likely to continue while stock specific action is not ruled out. The early indicator, SGX Nifty is trading at 8,960 up 10 points.
Benchmark indices failed to sustain gains yesterday and retreated from day's high dragged primarily by the losses in metals, information technology and bank shares as investors started to book profits in late noon deals. Earlier, markets had scaled fresh all-time highs on the surprise post-budget rate cut by Reserve Bank of India (RBI).
"Today the markets are likely open on flat note. All emerging markets are trading mixed. The coming session is likely to witness a range of 8,900 on declines and 9,050 on advances," points out a morning note from SMC Global Securities
GLOBAL MARKETS
Asian stocks slipped on Thursday after Wall Street continued to pull back from record highs ahead of Friday's closely-watched U.S. jobs data, while the nervous euro languished at an 11-year low prior to the European Central Bank's policy meeting.
MSCI's broadest index of Asia-Pacific shares outside Japan. Japan's Nikkei lost 0.2% and South Korean and Australian shares also posted modest losses.
Before slipping on Tuesday for the second successive session, both the Dow and S&P hit record highs on Monday, when the Nasdaq reached a 15-year peak.
STOCKS TO WATCH
Rate sensitive sectors like Banks, Auto and Realty will be in focus on the surprise post-budget rate cut by Reserve Bank of India (RBI) yesterday.
Anil Ambani’s Reliance Defence Systems, along with Reliance Infrastructure, is set to make a big-bang entry into the defence sector by acquiring Pipavav Defence, a private shipyard based in Pipavav in Gujarat, in an all-cash deal.
The telecom spectrum auction got off to an enormous start on Wednesday, the first day, with bids worth Rs 60,000 crore. Telecom stocks will be in focus.
Adani Power made a debut in the second phase of coal e-auction by winning the Jitpur mine in Jharkhand for Rs 302 a tonne.
Axis Bank has priced a $250 million bond issue via a tap of its existing 3.2 per cent senior unsecured notes due 2020. The notes, issued in Reg-S format will be fungible with the existing 2020 maturity paper.
IDBI Bank will increase the tally of deputy managing directors on its board from two to three, to bring parity with other large public sector banks that have three executive directors and one managing director and chief executive.
State Bank of India (SBI) hinted that its biggest share sale issue, which may fetch a whopping Rs 10,000-15,000 crore, may hit the markets "anytime".
Battered by the historic decline in global crude oil prices, Cairn India, the petroleum exploration arm of London-listed metals and mining giant Vedanta Resources, has announced a 58 per cent cut in its projected capital expenditure for the next financial year to $500 million from the earlier projection of $1,200 million.
Adani Power bagged Jitpur mine in Jharkhand while Usha Martin won Brinda and Sisai mines in the same state in the second tranche of coal mine auction that began yesterday.
Mahindra Holidays, the leisure hospitality market leader from the Mahindra & Mahindra group will invest Rs 500 crore in setting up 8-9 new resorts in the country over the next 18-20 months.
Benchmark indices failed to sustain gains yesterday and retreated from day's high dragged primarily by the losses in metals, information technology and bank shares as investors started to book profits in late noon deals. Earlier, markets had scaled fresh all-time highs on the surprise post-budget rate cut by Reserve Bank of India (RBI).
"Today the markets are likely open on flat note. All emerging markets are trading mixed. The coming session is likely to witness a range of 8,900 on declines and 9,050 on advances," points out a morning note from SMC Global Securities
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Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 2786.24 crore yesterday, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 16.89 crore yesterday, as per provisional data.
GLOBAL MARKETS
Asian stocks slipped on Thursday after Wall Street continued to pull back from record highs ahead of Friday's closely-watched U.S. jobs data, while the nervous euro languished at an 11-year low prior to the European Central Bank's policy meeting.
MSCI's broadest index of Asia-Pacific shares outside Japan. Japan's Nikkei lost 0.2% and South Korean and Australian shares also posted modest losses.
Before slipping on Tuesday for the second successive session, both the Dow and S&P hit record highs on Monday, when the Nasdaq reached a 15-year peak.
STOCKS TO WATCH
Rate sensitive sectors like Banks, Auto and Realty will be in focus on the surprise post-budget rate cut by Reserve Bank of India (RBI) yesterday.
Anil Ambani’s Reliance Defence Systems, along with Reliance Infrastructure, is set to make a big-bang entry into the defence sector by acquiring Pipavav Defence, a private shipyard based in Pipavav in Gujarat, in an all-cash deal.
The telecom spectrum auction got off to an enormous start on Wednesday, the first day, with bids worth Rs 60,000 crore. Telecom stocks will be in focus.
Adani Power made a debut in the second phase of coal e-auction by winning the Jitpur mine in Jharkhand for Rs 302 a tonne.
Axis Bank has priced a $250 million bond issue via a tap of its existing 3.2 per cent senior unsecured notes due 2020. The notes, issued in Reg-S format will be fungible with the existing 2020 maturity paper.
IDBI Bank will increase the tally of deputy managing directors on its board from two to three, to bring parity with other large public sector banks that have three executive directors and one managing director and chief executive.
State Bank of India (SBI) hinted that its biggest share sale issue, which may fetch a whopping Rs 10,000-15,000 crore, may hit the markets "anytime".
Battered by the historic decline in global crude oil prices, Cairn India, the petroleum exploration arm of London-listed metals and mining giant Vedanta Resources, has announced a 58 per cent cut in its projected capital expenditure for the next financial year to $500 million from the earlier projection of $1,200 million.
Adani Power bagged Jitpur mine in Jharkhand while Usha Martin won Brinda and Sisai mines in the same state in the second tranche of coal mine auction that began yesterday.
Mahindra Holidays, the leisure hospitality market leader from the Mahindra & Mahindra group will invest Rs 500 crore in setting up 8-9 new resorts in the country over the next 18-20 months.