Markets are likely to open in the positive territory in the morning deals in line with the global peers. However, RBI Credit policy which is due to be announced later during the day will dictate the trend on the bourses.
Asian stocks gained on Tuesday as hopes for an agreement on Greece's debt situation lifted risk appetite, while a sharp rebound in oil prices boosted commodity currencies such as the Canadian dollar and Norwegian crown.
US stocks ended sharply higher on Monday after a late rally driven by hopes for a Greek debt deal and as energy shares bounced with oil prices.
The early indicator SGX Nifty is up 0.3% at 8,887.
STOCKS TO WATCH:
Rate sensitive sectors including capital goods, realty and banking will hog limelight in today’s session as RBI will announce the monetary policy later during the day.
State Bank of Travancore (SBT) has recorded about a fourfold increase in net profit in the third quarter of the current financial at nearly Rs 74 crore, compared with the corresponding quarter in the previous financial year.
Forging major Bharat Forge net profit for the third quarter edned December 31, 2014 more than doubled at Rs 196.3 as compared to Rs 94 crore similar period last year. Led by exports, the company's revenue grew 44 per cent to Rs 1,198 crore in the quarter ended December 2014 from Rs 832.08 crore in the year-ago period.
Oil marketing companies are likely to remain in focus as oil prices climbed on Monday, adding to Friday's powerful rally, but gains were capped by an estimate of another strong weekly build in US crude stocks, traders said.
The Competition Commission of India (CCI) has approved Japanese financial services giant Nippon’s proposed deal to hike its stake in India’s top fund house Reliance Mutual Fund to 49 per cent in multiple tranches.
