The Indian markets are likely to trade with a positive bias today tracking global cues. Wall Street stocks rose on Thursday after data
showed the U-S labour market remained on the mend, but the market stalled as it approached highs not seen since before the 2008 collapse of Lehman Brothers.
The Dow Jones industrial average gained 0.4 per cent to 12,984.69. The S-and-P 500 Index rose 0.4 per cent to 1,363.46.
In Asia, M-S-C-I's broadest index of Asia Pacific shares outside Japan was up 0.2 per cent on Friday, while Japan's Nikkei average opened nearly flat.
Back home, technical analysts suggest that the markets are likely to correct going ahead and the best trading strategy would be to sell on rise. For the Nifty, the near-term support is pegged at 5,410 and 5,310 levels. At 720 a-m Indian Standard Time, the S-G-X Nifty was
trading at 5,551 levels, up 0.2 per cent.
Among individual stocks, Aventis Pharma will be in focus today on reporting 66 per cent drop in its December quarter net profit.
Citigroup Inc plans to raise up to 2.1 billion dollars by selling its entire stake in H-D-F-C on Friday as part of the its efforts to shore
up its capital base, reports suggest.
A ministerial panel that was to meet today to decide roadmap for auction of 5 per cent government stake in oil major O-N-G-C is now
likely to meet on February 27.
Tata Steel has sought shareholders' permission to increase its borrowing limit by 25 per cent to 50,000 crore rupees to part-finance
several ongoing expansion activities
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