 "Pre-market: Higher opening seen tracking global cues")
Benchmark share indices are likely to open higher on Wednesday tracking firm Asian cues and overnight gains on Wall Street. However, markets could turn volatile in the latter half of the trading session ahead of the expiry of October derivative contracts on Thursday.
At 8:30AM, the early indicator SGX Nifty was up 42 points at 8,080.
Foreign institutional investors were net sellers in equities to the tune of Rs 108 crore.
Asian markets were trading higher tracking overnight gains in US stocks on the back of robust corporate earnings. Japanese were the top gainers in the region with the Nikkei up 1.4%. Shares in China were also trading firm with Shanghai Composite was up 0.3% while Straits Times was up 0.4% and the Hang Seng surged 0.9%.
Major US stock indices ended over 1% higher on Tuesday as better-than-expected earnings from large corporates and consumer confidence data which touched the highest level in seven years boosted investor sentiment. Further, energy stocks also rebounded after the correction in the previous session. Meanwhile, investors are also awaiting comments on the economic outlook from the US Fed which ends its two-day meet later today. The Dow Jones ended up 188 points or 1.1% at 17,006, the broader S&P 500 rose 23 points or 1.2% at 1,985 and tech-laden Nasdaq surged 78 points or 1.8% to end at 4,564.
Stocks to watch
BHEL is likely to extend gains after the engineering major secured an order for a 444MW hydrpower project
Hero MotoCorp may see some action after the RBI allowed hike in FII shareholding in the company upto 49%.
IL&FS Engineering may gain after the company bagged an order worth Rs 180 crore from Dighi Port.
Dr Reddy's Labs will be in action after the company launched Sirolimus tablets in the US markets and the pharma major will also announce its second quarter earnings later today.
State Bank of India has fixed November 21 as the record date for determining the eligibility of shareholders entitled to receive 10 (Ten) equity shares of nominal value of Rs. 1/- each in lieu of 1 (One) equity share of nominal value of Rs. 10/- each of the Bank on account of reduction in face value (Sub-division of equity shares).
CCL Products (India) may gain after it reported a 29.3 per cent rise in its net profit at Rs 26.13 crore for the quarter ended September 2014, as compared with a profit of Rs 20.21 crore accrued in the corresponding quarter previous year.
SRF is likely to firm up after it reported an increase of 60.87% in net profit at Rs 76.85 crore for the second quarter ended September 30, 2014.
Jubilant Life Sciences may see some pressure after it posted a consolidated net loss of Rs 94.11 crore for the second quarter ended September 30, 2014. The company had posted a net loss of Rs 80.58 crore during the same period of previous fiscal.
ING Vysya Bank may react negatively after Shailendra Bhandari resigned as managing director and chief executive officer of ING Vysya Bank. He will continue to be in the office till January 31, 2015. Further, the bank reported a marginal growth of two per cent in net profit at Rs 180 crore for the second quarter ended September 30, 2014, compared to Rs 176.3 crore in the year-ago period.
Nestle India may see some pressure after earning missed street expectations. The FMCG major reported a 9.2 per cent rise in net profit in the July-September quarter at Rs 311.3 crore. The figure was Rs 285 crore in the year-ago period.
Equity analysts had expected Nestle to post a net profit of Rs 316 crore.
Grasim will also be in action ahead of its Jul-Sep quarter earnings that would be released later today.
At 8:30AM, the early indicator SGX Nifty was up 42 points at 8,080.
Foreign institutional investors were net sellers in equities to the tune of Rs 108 crore.
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Asian markets were trading higher tracking overnight gains in US stocks on the back of robust corporate earnings. Japanese were the top gainers in the region with the Nikkei up 1.4%. Shares in China were also trading firm with Shanghai Composite was up 0.3% while Straits Times was up 0.4% and the Hang Seng surged 0.9%.
Major US stock indices ended over 1% higher on Tuesday as better-than-expected earnings from large corporates and consumer confidence data which touched the highest level in seven years boosted investor sentiment. Further, energy stocks also rebounded after the correction in the previous session. Meanwhile, investors are also awaiting comments on the economic outlook from the US Fed which ends its two-day meet later today. The Dow Jones ended up 188 points or 1.1% at 17,006, the broader S&P 500 rose 23 points or 1.2% at 1,985 and tech-laden Nasdaq surged 78 points or 1.8% to end at 4,564.
Stocks to watch
BHEL is likely to extend gains after the engineering major secured an order for a 444MW hydrpower project
Hero MotoCorp may see some action after the RBI allowed hike in FII shareholding in the company upto 49%.
IL&FS Engineering may gain after the company bagged an order worth Rs 180 crore from Dighi Port.
Dr Reddy's Labs will be in action after the company launched Sirolimus tablets in the US markets and the pharma major will also announce its second quarter earnings later today.
State Bank of India has fixed November 21 as the record date for determining the eligibility of shareholders entitled to receive 10 (Ten) equity shares of nominal value of Rs. 1/- each in lieu of 1 (One) equity share of nominal value of Rs. 10/- each of the Bank on account of reduction in face value (Sub-division of equity shares).
CCL Products (India) may gain after it reported a 29.3 per cent rise in its net profit at Rs 26.13 crore for the quarter ended September 2014, as compared with a profit of Rs 20.21 crore accrued in the corresponding quarter previous year.
SRF is likely to firm up after it reported an increase of 60.87% in net profit at Rs 76.85 crore for the second quarter ended September 30, 2014.
Jubilant Life Sciences may see some pressure after it posted a consolidated net loss of Rs 94.11 crore for the second quarter ended September 30, 2014. The company had posted a net loss of Rs 80.58 crore during the same period of previous fiscal.
ING Vysya Bank may react negatively after Shailendra Bhandari resigned as managing director and chief executive officer of ING Vysya Bank. He will continue to be in the office till January 31, 2015. Further, the bank reported a marginal growth of two per cent in net profit at Rs 180 crore for the second quarter ended September 30, 2014, compared to Rs 176.3 crore in the year-ago period.
Nestle India may see some pressure after earning missed street expectations. The FMCG major reported a 9.2 per cent rise in net profit in the July-September quarter at Rs 311.3 crore. The figure was Rs 285 crore in the year-ago period.
Equity analysts had expected Nestle to post a net profit of Rs 316 crore.
Grasim will also be in action ahead of its Jul-Sep quarter earnings that would be released later today.