 "Pre-market: Higher opening seen, Nifty to test 8,000")
Markets are likely to open higher on Wednesday, amid firm global cues, as sentiment continues to remain positive on the back of several reforms announced by the government.
At 8:40AM, the early indicator SGX Nifty was up 73 points at 8,023
Asian markets were trading higher tracking overnight gains on Wall Street after encouraging earnings from US technology majors. Stocks in Japan gained the most after trade data released earlier today showed that exports in September increased 6.9% compared to the same month last year. The benchmark Nikkei was up 1.7%. However, Shanghai Composite was trading flat with negative bias while Hang Seng and Straits Times were up 0.6-0.7%.
European shares surged on Tuesday on the back of encouraging economic data from China and talk that the European Central Bank might announce monetary stimulus measures. The CAC-40, DAX and FTSE ended up 1.7-2.2% each.
Stocks to watch
Cairn India will be in focus after consolidated net profit declined to Rs 2,278 crore in the September quarter compared to Rs 3385 crore in the same quarter last year.
Biocon may be under pressure after the company's net profit for the September quarter was flat at Rs 102 crore.
KPIT Tech is likely to see some gains after reporting strong set of numbers on the back of higher EBITDA margins. Net profit surged to Rs 62.70 crore in the September quarter compared to Rs 27.38 crore in the September quarter last fiscal.
Mcleod Russel could be under pressure after net profit for the September quarter declined to Rs 221.50 crore from Rs 245.49 crore in the September quarter last year on the back of higher depreciation.
Dewan Housing Finance reported 18% rise in net profit to Rs 152.19 crore for the quarter ended September 2014 compared to Rs 129.14 crore in the same quarter last fiscal. Net Interest Income was up 45% during the September quarter.
Gujarat Flurochemicals is likely to firm up on robust September quarter earnings. The company reported a net profit of Rs 38 crore compared with Rs 25.57 crore in the same quarter last year.
At 8:40AM, the early indicator SGX Nifty was up 73 points at 8,023
Asian markets were trading higher tracking overnight gains on Wall Street after encouraging earnings from US technology majors. Stocks in Japan gained the most after trade data released earlier today showed that exports in September increased 6.9% compared to the same month last year. The benchmark Nikkei was up 1.7%. However, Shanghai Composite was trading flat with negative bias while Hang Seng and Straits Times were up 0.6-0.7%.
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Major US stock indices enedd higher on Tuesday with the broader S&P 500 ending higher for the fourth consecutive session on the back of robust earnings from technology majors. Further, US existing home sales were better than expected after rising 2.4% in September. The Dow Jones surged 215 points at 16,615, S&P 500 gained nearly 2% to end at 1,941 and the tech-laden Nasdaq ended up 2.4% at 4,419.
European shares surged on Tuesday on the back of encouraging economic data from China and talk that the European Central Bank might announce monetary stimulus measures. The CAC-40, DAX and FTSE ended up 1.7-2.2% each.
Stocks to watch
Cairn India will be in focus after consolidated net profit declined to Rs 2,278 crore in the September quarter compared to Rs 3385 crore in the same quarter last year.
Biocon may be under pressure after the company's net profit for the September quarter was flat at Rs 102 crore.
KPIT Tech is likely to see some gains after reporting strong set of numbers on the back of higher EBITDA margins. Net profit surged to Rs 62.70 crore in the September quarter compared to Rs 27.38 crore in the September quarter last fiscal.
Mcleod Russel could be under pressure after net profit for the September quarter declined to Rs 221.50 crore from Rs 245.49 crore in the September quarter last year on the back of higher depreciation.
Dewan Housing Finance reported 18% rise in net profit to Rs 152.19 crore for the quarter ended September 2014 compared to Rs 129.14 crore in the same quarter last fiscal. Net Interest Income was up 45% during the September quarter.
Gujarat Flurochemicals is likely to firm up on robust September quarter earnings. The company reported a net profit of Rs 38 crore compared with Rs 25.57 crore in the same quarter last year.