 "Pre-market: Markets likely to remain range bound")
Markets are likely to remain rangebound as further gains are likely to be capped on profit taking at higher levels. Further, markets could witness intra-day volatility ahead of October F&O expiry later this week.
At 8:30AM, the early indicator SGX Nifty was up 35 points at 8,055.
Asian stocks were trading mixed on Monday after better-than-expected earnings while growth in new US home sales and the stress tests for banks in the euro zone also helped improve sentiment. Japanese shares firmed up with the benchmark Nikkei up 0.4% while Straits Times was trading flat with positive bias. However, shares in Hong Kong witnessed profit taking and the Hang Seng was down nearly 1% while Shanghai Composite was down 0.5%.
Stocks to watch
Tata Motors will be in focus after it successfully raised $750 million through forex bond sale.
Ranbaxy will be in focus on reports that it might lose a key six-month exclusivity period for the generic version of Nexium - a blockbuster drug from AstraZeneca - if it fails to get regulatory clearance for the US market by the end of November. The drug maker is awaiting approval for the drug, which treats heartburn, from the US Food and Drug Administration (US FDA).
Reliance Industries will be in focus after its decision to increase PTA prices by a steep Rs 2,100 a tonne from August 1 - just a week after the new government imposed anti-dumping duty on the product despite stiff opposition from the user lobby.
IndusInd Bank will be in focus on reports that the government has cleared the proposal to hike FII shareholding in the private bank.
DLF may be under pressure on reports that the Haryana government will open cases relating to DLF's deals with the Congress president's son-in-law, Robert Vadra.
Hindustan Unilever will be in focus ahead of its Jul-Sep earnings to be announced later today.
Defence companies will be in focus after the defence ministry on Saturday took a major step to address India's critical submarine shortage. A committee has been set up to evaluate which Indian defence shipyards can build six high-tech, conventional submarines under Project 75I at an estimated cost of Rs 50,000 crore. The government has also cleared several smaller projects whose worth, according to ministry officials, totals Rs 80,000 crore.
At 8:30AM, the early indicator SGX Nifty was up 35 points at 8,055.
Asian stocks were trading mixed on Monday after better-than-expected earnings while growth in new US home sales and the stress tests for banks in the euro zone also helped improve sentiment. Japanese shares firmed up with the benchmark Nikkei up 0.4% while Straits Times was trading flat with positive bias. However, shares in Hong Kong witnessed profit taking and the Hang Seng was down nearly 1% while Shanghai Composite was down 0.5%.
More From This Section
US stock markets ended with solid gains on Friday on the back of enouraging earnings from IT major Microsoft and Procter & Gamble. However, on-line retailer Amazon witnessed selling pressure after its sales forecast during the holiday quarter and third quarter earnings were lower than expected. The Dow Jone ended up 127 points at 16,805, the broader S&P 500 ended up 14 points at 1,965 and the Nasdaq Composite rose 31 points to close at 4,484.
Stocks to watch
Tata Motors will be in focus after it successfully raised $750 million through forex bond sale.
Ranbaxy will be in focus on reports that it might lose a key six-month exclusivity period for the generic version of Nexium - a blockbuster drug from AstraZeneca - if it fails to get regulatory clearance for the US market by the end of November. The drug maker is awaiting approval for the drug, which treats heartburn, from the US Food and Drug Administration (US FDA).
Reliance Industries will be in focus after its decision to increase PTA prices by a steep Rs 2,100 a tonne from August 1 - just a week after the new government imposed anti-dumping duty on the product despite stiff opposition from the user lobby.
IndusInd Bank will be in focus on reports that the government has cleared the proposal to hike FII shareholding in the private bank.
DLF may be under pressure on reports that the Haryana government will open cases relating to DLF's deals with the Congress president's son-in-law, Robert Vadra.
Hindustan Unilever will be in focus ahead of its Jul-Sep earnings to be announced later today.
Defence companies will be in focus after the defence ministry on Saturday took a major step to address India's critical submarine shortage. A committee has been set up to evaluate which Indian defence shipyards can build six high-tech, conventional submarines under Project 75I at an estimated cost of Rs 50,000 crore. The government has also cleared several smaller projects whose worth, according to ministry officials, totals Rs 80,000 crore.