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Markets are likely to rebound and open higher after losses in the previous two sessions tracking firm global cues.
At 8:35AM, the early indicator SGX Nifty was down 5 points at 8,127.
Asian markets were trading in a narrow range after US President Barack Obama said he had authorised US air strike in Syria and also in Iraq to fight the Islamic State militants.
However, Japanese shares remained firm amid a weaker yen. The benchmark Nikkei was up 0.5%. Straits Times and Hang Seng were up 0.2-0.3% each while Shanghai Composite was up 0.6%.
US stocks recovered from the losses in the previous two sessions helped by a rebound in shares of Apple which recently unveiled the iPhone6. Meanwhile, energy shares continued to remain weak tracking weakness in crude oil prices. The Dow Jones gained 0.3% to end at 17,068.71, the broader S&P 500 gained 0.4% to close at 1,995.69 and the Nasdaq Composite ended up 0.8% at 4,586.52.
Stocks to watch
Oil and Natural Gas Corporation (ONGC), Coal India Ltd (CIL) and NHPC Ltd will be in action after the Union Cabinet on Wednesday cleared a dilution of the government's stake in these companies.
IDFC will be in action after the company plans to raise Rs 2,000 crore through share sale to qualified institutional buyers. The floor price has been fixed at Rs 143.70/share.
Nestle will be in focus after the FMCG major announced a second interim dividend of Rs 30/share for 2014.
DLF will see some action after receiving approval from its shareholders to raise up to Rs 5,000 via through private placement of non-convertible debentures.
Info Edge (India) has informed that the QIP committee has decided to close bidding for QIP issue after it raised Rs 750 crore. The issue had opened for subscription on September 4.
