 "Positive opening seen; Auto shares in focus")
Markets are likely to open flat with a positive bias, amid firm cues from Asia and gains in US stocks on Friday, with auto shares in focus on the back of robust sales in March. Further, rate sensitive shares will be in focus in the latter half of the trading session ahead of the RBI policy meet tomorrow.
At 8:30am, the early indicator SGX Nifty was up 24 points at 7,770.
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Foreign institutional investors were net buyers in equities to the tune of Rs 214 crore on Friday, as per provisional stock exchange.
Most Asian stocks were trading with marginal gains tracking gains on Wall Street over the week-end. Japanese benchmark index, the Nikkei was up 0.2% and Singapore's Straits Times was up 0.5%.
US stocks ended higher on Friday on the back of higher than expected non-farm payrolls data. Non-farm payroll rose 215,000 in March 2016, according to a release by the US Labour Department on Friday. The Dow Jones industrial average was up 0.6% at 17,793, the S&P 500 gained 0.6% to close at 2,073 and the tech-heavy Nasdaq settled 0.9% higher at 4,915.
STOCKS IN FOCUS
In the auto semgent, Hero MotoCorp is likely to gain on the back of 14% growth year-on-year. TVS Motor which recorded 10% growth in March sales while Tata Motors may firm up on the back of strong growth in the commercial vehicles segment and higher US JLR sales.
Shares of Infibeam Incorporation which was priced at the upper-end of the price of Rs 432 per share will be listed today. The issue at a price-band of Rs 360-432 a share was subscribed 1.11 times.
MOIL is expected to gain after the company raised prices of ores and fines by 10%-50%.
Wabco India may weaken on the back on increase in royalty payment by the parent. The company entered into an agreement with M/s WABCO Europe BVBA, a related party for payment of royalty at the rate of 4% on the net sales for using the licensed intangibles and technical knowhow.
JSW Steel will be in focus on recording highest ever monthly crude steel production in March 2016.
ITC may see some pressure after the company said it has been compelled to shut its cigarette factories with effect from April 01, 2016 until clarity emerges in the current uncertain state of the rules on health warning.
SAIL may also see some weakness after Fitch Ratings downgraded the steel major's long-term foreign currency issuer default rating (IDR) to 'BB'from 'BBB-'.
