 "MFs caught on the wrong foot with L&T, Adani Ports")
Markets are likely to open on a firm note, mirroring strength in Asian equities and a positive close on the Wall Street. Participants will keenly wait for the RBI policy meeting scheduled later during the day.
"BSE Sensex crossed its immediate hurdle of 26850 zones and headed towards psychological 27000 mark by hitting its seven month fresh record high. It has been making higher highs from last eight trading sessions and overall trend is intact to positive till it holds the support of 26600-26500 zones," points out a morning note from Anand Rathi Research.
"Now, it has to continue to hold above 26850 zones to 26600-26500 zones. Now it has to continue to hold above 26850 zones to witness an up move towards 27150-27250 zones while on the downside it has marked multiple support as seen from its 52 week low of 22500 zones," it adds.
GLOBAL MARKET
Asian shares are trading higher after Federal Reserve Chair Janet Yellen said US interest rate hikes are likely on the way, held back any reference to the timing.
The Fed chief said last month's jobs report was "disappointing" and bears watching, though she gave a largely upbeat assessment of the US economic outlook, warning against attaching too much significance to the payrolls data in isolation.
Japan’s Nikkei, Hong Kong’s Hang Seng and Singapore’s Straits Time shave gained between 0.3%-0.7%.
STOCKS
Rate sensitives including banks, auto and realty stocks will remain in focus ahead of the RBI monetary policy meet.
ICICI Bank, the country’s largest private sector lender, is planning to raise Rs 25,000 crore by private placement of bonds, debentures and securities, including bonds and non-convertible debentures (NCDs).
Sun Pharma is likely to hog limelight after Dilip Shanghvi, the promoter of Sun Pharmaceutical Industries, is set to expand his oil & natural gas business.
Vedanta Resources will invest $500 million (nearly Rs 3,350 crore) in its zinc business, which is about half of its total capital expenditure for the current financial year 2016-17.
Crompton Greaves Consumer Electricals Ltd (CGCEL) on Monday said its shareholders have approved raising up to Rs 700 crore through the issuance of non-convertible debentures (NCDs) on private placement basis.
Kotak Mahindra Bank will remain in focus as the bank expects about 20% growth in credit during the current fiscal, a senior executive said on Monday.
State-owned BHEL announced the commissioning of all the 3 supercritical units of the 1980 MW coal-based Lalitpur Super Thermal Power Project in Uttar Pradesh within a span of just 85 days.
L&T is likely to gain after it secured a contract to build a $135 million stadium for Qatar's 2022 World Cup.
