 "Markets rebound on strong global cues")
The markets have opened on a strong note, thanks to the momentum seen across Asian markets.
The Asian markets have firmed up this morning, tracking a rebound on Wall Street which saw all major US stock indices surging 4% each in overnight trades on Wednesday. China's benchmark Shanghai Composite is up nearly 2% after the sharp slide in the previous five sessions while shares in Hong Kong have risen tracking gains in the mainland. The Hang Seng has gained 2.4%, Nikkei is up nearly 2% and Straits Times is up 1.9%.
At 9:15 AM, the Sensex was at 26,028, stronger by 314 points or 1.2% and Nifty was at 7,888, up 96 points.
(updated at 8:40 AM)
Benchmark share indices are likely to open higher, amid firm global cues, but volatility is seen ahead of the expiry of August futures and options contracts later today. Further, selling by foreign institutional investors is likely to weigh on market sentiment.
At 8:40AM, the early indicator SGX Nifty was up 86 points at 7,872.
STOCKS IN FOCUS
Tata Steel will be in focus on reports that the company plans to move into manufacturing high-value products at one of its overseas plants in Wales, UK.
Bharti Airtel may firm up after it acquired Augere Wireless Broadband India. The company holds 20 MHz of BWA spectrum in the telecom circle of Madhya Pradesh and Chhattisgarh.
Power Grid plans to seek approval from shareholders to raise up to Rs 14,000 crore from domestic and overseas investors in the next fiscal.
Apollo Tyres is likely to be in focus on reports that it has raised Rs 2,260 crore to fund its greenfield plant in Hungary.
The BSE said that trading in Sterling Holiday Resort shares will be discontinued from August 31, 2015 following the merger with Thomas Cook
Hathway Cable may firm up after the Reserve Bank of India has now permitted overseas investors to buy additional shares in the company.
GLOBAL MARKETS
Asian markets firmed up tracking rebound on Wall Street which saw all major US stock indices surging 4% each in overnight trades on Wednesday. China's benchmark Shanghai Composite was up nearly 2% after the sharp slide in the previous five sessions while shares in Hong Kong rose tracking gains in the mainland. The Hang Seng was up 2.4%. Shares in Japan were also trading higher with exporters among the top gainers after the dollar appreciated against the yen along with banks. The Nikkei was up nearly 2% while Straits Times was up 1.9% each.
US stocks rebounded on Wednesday to notch up its highest single-day gain in four years on expectations that the US Fed is unlikely to cut rates in September after the New York Fed President William Dudley signalled that the possibility of rate hike in September seemed "less compelling". Further, encouraging economic data also boosted sentiment. According to the data released US orders for durables goods grew 2% in July compared to the previous month . The Dow Jones ended up 619 points or 4% at 16,286, the broader S&P 500 surged 73 points or 3.9% at 1,940.51 and the tech-laden Nasdaq ended up 191 points or 4.2% at 4,697.54.
The Asian markets have firmed up this morning, tracking a rebound on Wall Street which saw all major US stock indices surging 4% each in overnight trades on Wednesday. China's benchmark Shanghai Composite is up nearly 2% after the sharp slide in the previous five sessions while shares in Hong Kong have risen tracking gains in the mainland. The Hang Seng has gained 2.4%, Nikkei is up nearly 2% and Straits Times is up 1.9%.
At 9:15 AM, the Sensex was at 26,028, stronger by 314 points or 1.2% and Nifty was at 7,888, up 96 points.
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(updated at 8:40 AM)
Benchmark share indices are likely to open higher, amid firm global cues, but volatility is seen ahead of the expiry of August futures and options contracts later today. Further, selling by foreign institutional investors is likely to weigh on market sentiment.
At 8:40AM, the early indicator SGX Nifty was up 86 points at 7,872.
STOCKS IN FOCUS
Tata Steel will be in focus on reports that the company plans to move into manufacturing high-value products at one of its overseas plants in Wales, UK.
Bharti Airtel may firm up after it acquired Augere Wireless Broadband India. The company holds 20 MHz of BWA spectrum in the telecom circle of Madhya Pradesh and Chhattisgarh.
Power Grid plans to seek approval from shareholders to raise up to Rs 14,000 crore from domestic and overseas investors in the next fiscal.
Apollo Tyres is likely to be in focus on reports that it has raised Rs 2,260 crore to fund its greenfield plant in Hungary.
The BSE said that trading in Sterling Holiday Resort shares will be discontinued from August 31, 2015 following the merger with Thomas Cook
Hathway Cable may firm up after the Reserve Bank of India has now permitted overseas investors to buy additional shares in the company.
GLOBAL MARKETS
Asian markets firmed up tracking rebound on Wall Street which saw all major US stock indices surging 4% each in overnight trades on Wednesday. China's benchmark Shanghai Composite was up nearly 2% after the sharp slide in the previous five sessions while shares in Hong Kong rose tracking gains in the mainland. The Hang Seng was up 2.4%. Shares in Japan were also trading higher with exporters among the top gainers after the dollar appreciated against the yen along with banks. The Nikkei was up nearly 2% while Straits Times was up 1.9% each.
US stocks rebounded on Wednesday to notch up its highest single-day gain in four years on expectations that the US Fed is unlikely to cut rates in September after the New York Fed President William Dudley signalled that the possibility of rate hike in September seemed "less compelling". Further, encouraging economic data also boosted sentiment. According to the data released US orders for durables goods grew 2% in July compared to the previous month . The Dow Jones ended up 619 points or 4% at 16,286, the broader S&P 500 surged 73 points or 3.9% at 1,940.51 and the tech-laden Nasdaq ended up 191 points or 4.2% at 4,697.54.