Following a bloodbath on Dalal Street in last two sessions, it looks like the bulls are set to make a comeback today, tracking strong cues from Asian peers. SGX Nifty traded 97 points higher at 7.20 am, indicating a solid start for benchmark indices.
Meanwhile, stocks in Asian markets and US futures traded higher on Tuesday morning as investors awaited comments from Joe Biden's Treasury Secretary nominee Janet Yellen on US stimulus and the dollar.
Former Fed chair will tell the Senate Finance Committee on Tuesday that the government must “act big” with its next coronavirus relief package, a Reuters report said, citing a prepared opening statement for her hearing before the committee.
Japan’s Topix index added 0.4%, South Korea’s Kospi index rose 0.5% and Australia’s S&P/ASX 200 index climbed 1%. The futures on the S&P 500 Index rose 0.4% while the US markets remained shut for trading on Monday on account of a public holiday.
That apart, in what could be another booster to market sentiment, rating agency ICRA said economic activity recorded a broad-based improvement in December as against November, showing a return of demand. Icra said most of the indicators have displayed a year-on-year expansion in December 2020, which signals a "tentative return to pre-Covid normalcy".
Now, a look at the stock-specific developments that are likely to sway the market today:
L&T Finance's board has fixed the price at Rs 65 per share for the Rs 3,000 crore rights issue which opens for subscription on February 1.
Promoter of Adani Green Energy, Adani Trading Services LLP, on Monday offloaded shares worth nearly Rs 3,309 crore in the firm, through open market transactions.
Indiamart Intermesh posted a 29 per cent rise in its consolidated net profit to Rs 80 crore for the third quarter ended December 31, 2020.
Mindtree's consolidated net profit jumped 65.7 per cent to Rs 326.5 crore for the December 2020 quarter. The company said its deal pipeline continues to be healthy and strong.
Maruti Suzuki increased the price for select models by up to Rs 34,000 to offset adverse impact of rising input costs with effect from January 18.
Yes Bank's board will meet on Friday to consider a proposal for further fundraising through various means, according to the private sector lender.
Apollo Hospitals' QIP issue opens today. According to a media report, the company intends to raise as much as Rs 1,000 crore through the sale of 40.7 lakh shares.
Lastly, in an update on the primary market, IRFC IPO garnered 65 per cent subscription on Monday, the first day of the issue. The retail portion of the issue has been subscribed 1.24 times, while the employee quota has already been lapped up by more than 13 times.
 "Market Ahead, January 19: All you need to know before the opening bell")
