Pre-Market: Ten stocks to watch in today's trade

Markets likely to start on a positive note on account of positive global cues

 

Markets are likely to start on a positive note with the Nifty making a dash to surpass its all time highs of 8,365 in today's trade. The up move is on account of positive global cues along with positive sentiment from an expanded cabinet with 21 new faces inducted in Modi's cabinet on Sunday.

Early indicator SGX Nifty was up 13 points at 8,408.

Meanwhile, Asian shares held firm in early Monday trade after U.S. jobs data pointed to solid economic growth, while China's export performance showed more resilience than some had expected. U.S. employers added 214,000 jobs in October, slightly below economists' median forecast of 231,000, but logging the ninth consecutive month of gains of more than 200,000, the longest stretch since 1994.

Unemployment fell to a six-year low of 5.8%, but that did not improve wage growth, with average hourly earnings rising a slim 0.1%, falling short of a projected 0.2% gain.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3%. Japan's Nikkei, however, slipped as the yen rebounded on profit-taking in the dollar following the U.S. payroll data.

US share prices ended flat on Friday following the payrolls data as some investors took some money off the table after the market's rally to record highs.

Stocks to Watch

Banking stocks may see some red after the central bank deputy governor HR Khan said inflation fight has a long way to go, in effect indicating that there won't be any hopes of a rate cut in teh upcoming RBI Policy.

In individual names among banks, Central Bank, Bank of Maharashtra, UCO Bank and Syndicate Bank will be reacting to its individual Q2 numbers reported post market hours

L&T, Coal India, Jet Airways are some of the other prominent names which will be impacted by its Q2 numbers

Kingfisher Airlines: Grounded airlines has written to UCO Bank wanting to know the basis of attaching the 'wilful defaulter' tag on the carrier

Deepak Fertilisers: Bought an additional about 6 per cent stake in Mangalore Chemicals and Fertilisers Ltd (MCFL) for Rs 65.93 crore through an open offer, intensifying its takeover battle with Zuari Group

Muthoot Finance: Has sought capital markets regulator Sebi's approval for raising up to Rs 400 crore through non-convertible debentures (NCDs) to support lending activities

ONGC: Upstream oil regulator DGH has approved commerciality of the oil and gas discoveries in the northern area of state-owned ONGC's prolific KG-D5 block in Bay of Bengal