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Markets are likely to rebound today tracking their Asian peers and overnight gains on Wall Street.
At 8:30AM, the SGX Nifty was up 12 points at 6,122
Asian stocks were trading higher on the back of encouraging manufacturing data from the US. The Nikkei was up 2%, Straits Times was up 0.6%, Hang Seng was up 0.7%. However, Shanghai Composite was down 0.9% on the back of weak economic data.
Stocks on Wall Street ended higher on Thursday after a preliminary survey showed that US factory output in February increased at its fastest pace in four year and new claims for unemployment insurance declined in the latest week. Jobless claims in the US fell by 3,000 to 336,000 in the week ended February 15, 2014.
Facebook shares surged to all-time highs post the acquisition of WhatsApp while Tesla shares also rose to fresh highs.
The Dow Jones gained 93 points to end at 16,133, the S&P 500 gained 11 points to close at 1,840 and the tech-laden Nasdaq ended up 29 points at 4,268.
European shares ended mixed on Thursday weighed down by discouraging economic data from the euro zone and China.
The DAX ended down 0.4% at 9,619 and CAC-40 gained 0.3% to close at 4,355 and the FTSE-100 ended 0.2% higher at 6,813.
Stocks in Focus
Telecom shares will be in focus on new merger and acquisition guidelines. Telecom companies exploring mergers and acquisitions (M&As) will have to keep the market share of merged entities below 50 per cent in all circles, both in terms of subscriber base and adjusted gross revenue (AGR), say sources.
Shree Renuka Sugars will be in focus post the stake buy by Wilmar
Thomas Cook may continue to be under pressure post its results annoucment.
Hero MotoCorp may be under pressure on the recent price cuts following the
lowering of excise duties in the interim budget.
Jewelllery stocks will be in focus on talk that the ministry may consider the industry's ples on cut of import duty on gold to 2%.
