Check out how the markets are likely to pan out in trade today, includingthe stocks that you need to keep a tab on.
Global cues are likely to dictate sentiment today as the markets react to the outcome of the European Central Bank (ECB) meeting for cues on a fresh round of stimulus. Stock specific action at the domestic level will also be visible as select counters react to their respective June quarter results.
US stocks fell on Wednesday on disappointment the Federal Reserve offered no new measures to stimulate the economy. The Dow Jones industrial average and the Standard & Poor's 500 Index slipped 0.3 per cent each.
Asian shares eased on Thursday, as investors turned increasingly cautious as hopes of stimulus action by central banks thinned ahead of a European Central Bank's meeting later in the day.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 per cent, while Japan's Nikkei stock average opened flat.
Back home, the Nifty is likely to seek support around 5,228 – 5,220, while it can face resistance around 5,255 – 5,261, technical analysts suggest. At 705 am Indian Standard Time, the SGX Nifty was trading at 5,260 – up 0.3 per cent.
Stocks to watch
Among individual stocks, keep a tab on the stocks of airline and oil marketing companies as they react to the 4.5 per cent hike in jet fuel prices, the second increase in a month.
DLF could also be in the limelight on reports that the company is planning to raise around Rs 3,000 crore from sale of its 17.5 acre prime land in Mumbai and the deal is expected to close this quarter.
In earnings watch, Glenmark Pharma, Hotel Leela and Satyam Computer are some of the prominent companies that will announce their respective June quarter results.
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