Markets are likely to mirror cues from global peers and trade strong. Results from IT giant - Infosys will further decide direction today.
U.S. stocks logged a second straight day of gains Thursday, pushing the S&P 500 to a fresh 5-year closing high. But investors are still cautious ahead of a slew of earnings reports next week. The Dow Jones jumped 81 points to 13471. Nasdaq was also up half a per cent.
In Asia, markets traded on a positive note, mirroring wall street. Nikkei went up 1% at 10,779. The European Central Bank meeting today to discuss and decide on the eurozone economic data is an important event that will further decide direction of the global bourses. At 700 hrs IST, the SGX Nifty was up 10 points at 6006.
In individual stocks, look out for Videocon as there is talk of its laying off 1,000 workers at its Baruch plant. Sources said while Videocon had shut one unit of the plant earlier, it was now planning to shut another, which might pose a threat to jobs.
State-owned Gujarat State Fertilizers and Chemicals Limited has proposed to picked up 19.98 per cent stake Canadian potash mining company Karnalyte Resources Inc., Canada for Rs 250 crore.
Hindustan Motors, owned by the CK Birla Group, on Thursday decided to demerge and transfer its Chennai car plant to its fully-owned subsidiary, Hindustan Motor Finance Corporation. This might bring the stock into focus.
Also look out for Sterling Biotech as the Bombay High Court on Wednesday barred the gelatin-maker from selling or mortgaging assets. The order came in a petition filed by holders of foreign currency convertible bonds issued by the company.
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