The markets are likely to remain volatile ahead of the presentation of the Union Budget today. Overnight, the Dow Jones industrial average rose 0.4 per cent to 13,253 and the Standard & Poor's 500 Index advanced 0.6 per cent to 1,403 at close.
Asian shares steadied on Friday and the dollar took a breather after its recent broad rally spurred some profit taking. The MSCI Asia Pacific ex-Japan index was barely changed and Japan's Nikkei opened down 0.1 per cent.
Back home, the Nifty is likely to face resistance around 5,420 – 5,445, while it will seek support around 5,340 – 5,320 levels, technical analysts suggest. At 730am Indian Standard Time, the SGX nifty was trading at 5,428 levels, up 0.4 per cent.
Among individual stocks, keep a tab on oil companies like HPCL, BPCL and IOC and aviation stocks on reports that the state-owned oil companies have hiked jet fuel price by 2 per cent, the second increase in rates this month.
SKS Microfinance plans to raise around RS 200 crore through securitisation from two different banks.
Godrej Properties has decided to sell a total 8.14 million shares via a institutional placement programme. The company has already got shareholder nod to raise up to Rs 750 crore through share sale.
Global power equipment and wind turbine majors Alstom, Siemens and GE are negotiating with Suzlon Energy for a possible buyout of its German subsidiary Repower, reports suggest.
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