Mkts seen opening higher, HCL Tech, Hero MotoCorp eyed

Asian markets positive in early trades

Markets are likely to mirror cues from global peers and open in the green this morning. The results season, both in India and globally, would decide market direction from there on.

US stocks ended mixed on Wednesday as investors weighed decent corporate earnings reports against worries about the debt ceiling and global economic growth. The Dow ended down 24 points at 13,511 while Nasdaq and S&P ended marginally in the green.

In Asia, markets traded mostly in the green. Nikkei added 0.7% at 10,676, Hang Seng added 0.5% and Taiwan Weighted went up nearly 1%. At 7:00 hrs IST the SGX Nifty was up 23 points at 6,038.

In individual stocks, watch out for Reliance Communications as it has signed an eight-year end-to-end network managed services contract with Alcatel-Lucent for $1 billion, covering India’s eastern and southern markets.

GCPL may be in focus as a group of jewellers has moved the high court here against fast-moving consumer goods major Godrej Consumer Products Limited for the recovery of dues estimated at Rs 35-40 crore.

Coal India has tied up with the US-based Advance Resource International Inc for exploration and identification of the potential shale deposits within the company’s coal blocks.

Also look out for the companies which come out with their quarterly numbers today - including Hero MotoCorp and HCL Tech.