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Markets are likely to extend gains and touch fresh record highs on Thursday, amid firm global cues, led by aggressive purchases by foreign funds after encouraging economic growth forecast for India by the International Monetary Fund.
At 8:30AM, the early indicator SGX Nifty was up 32 points at 8,776.
Foreign institutional investors were net buyers in equities to the tune of Rs 2,065 crore, as per the provisional stock exchange data.
Asian shares were trading firm on expectations tha European Central Bank at its meet later today would announce measures to boost the sagging economy in the euro zone.
Shares in Japan were trading with marginal losses while Shanghai Composite was up 0.2%, Straits Times gained 0.3% and Hang Seng was trading 0.8% higher.
Major US share indices ended higher, amid a volatile trading session on Wednesday, on hopes that the European Central Bank at its meeting later today would announce fresh stimulus measures. However, profit taking in IT major IBM capped upside gains.
The Dow Jones industrial average was up 39 points at 17,554, the broader S&P 500 gained 10 points at 2,032 and the tech-laden Nasdaq Composite ended 13 points higher at 4,667.
Stocks in focus
Tata Motors will be in focus ahead of the launch of its new hatchback the 'Bolt' later today.
ITC may see some action post its results announcement late Wednesday on the back of weak cigarette volumes and downgrade by several brokerages.
While ITC’s cigarette volumes were expected to fall five-seven per cent in the quarter, given the rising taxes (excise duty, value-added tax), the fall was as high as 12-13 per cent, analysts say.
Spicejet may see some action on media reports that the company has received an initial nod to the company's proposed re-capitalisation plan subject to compliance with the FDI cap for the sector.
Suzlon will be in focus on reports that the company may announce the sale of its German subsidiary Senvion. For FY14, Senvion contributed Rs 13,759 crore, or 65 per cent of the consolidated revenue.
ING Vysya will see some pressure. Despite healthy growth of 18% in net interest income, the private sector lender ING Vysya Bank has reported 13% decline in net profit at Rs 146 crore for the quarter ended December 31, 2014, compared to Rs 167 crore reported in the year-ago period.
L&T Finance Holdings may gain after it posted a 66 per cent growth in consolidated profit after tax for the third quarter ended December 31 at Rs 82 crore, compared to the corresponding period a year ago, on the back of healthy margins, good fee income, well-managed operating costs and optimisation in borrowing costs.
TTK Prestige may see some pressure after it reported a 4.84% decline in net profit at Rs 28.06 crore for the quarter ended December 31, 2014.The company had posted a net profit of Rs 29.49 crore during the corresponding period of the previous year, TTK Prestige said in a BSE filing.
Biocon, Dish TV and Cairn India will be in focus ahead of their Oct-Dec quarter earnings later today.
