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Markets are likely to open higher but upside gains are likely to be capped as investors are likely to remain cautious ahead of the start of US Federal Reserve's two day meeting.
At 8:30AM, the early indicator SGX Nifty was up 21 points at 8,017.
On Monday, FIIs were net buyers to the tune of around Rs 49.14 crore
Asian markets are trading mixed with Japanese stocks remaining subdued ahead of the of US Federal Reserve's two day meeting and persisting decline in global crude price despite upbeat economic data released before the opening of market. Japanese retail sales in September rose 2.3% from a year earlier, government data showed, suggesting consumer spending is gradually picking up. NIkkei has declined around 0.8% and Strait Times is down around 0.5% while on the other hand Hang Seng has gained around 0.5% and Shanghai Composite is up around 0.8%.
U.S. stocks ended near flat on Monday as energy shares fell with another decline in oil prices while investors remain optimist about Federal Reserve's meeting outcome expecting it to maintain dovish stance on interest rates and a largely accommodative policy over the medium term. The Dow Jones industrial average rose 0.07% to 16,818, the S&P 500 lost 0.15% to 1,962 and the Nasdaq Composite was flat at 4,486.
Stocks to watch
HUL may come under pressure as its Q2 results are below market estimates though the stock is likely to recover as major market analysts have maintained their stance at 'neutral' for the company citing largely stable numbers.
Coal India shares may decline as the Competition Commission of India (CCI ) has asked Coal India to desist from indulging in anti-competitive practices by abusing its dominant position.
India Bulls Housing Finance may witness increased buying after reporting 21% increase in profit at Rs 448.20 crore during the July-September quarter of 2015 fiscal compared to same quarter last fiscal.
State Bank of Mysore will be in focus after reporting sharp increase in profit in the July-September quarter.
Bharti Infratel will be in focus after strong performance on the second quarter of 2015 fiscal. Aided by a 2.4% improvement in tenancies and tower additions, Bharti Infratel’s September quarter core rental revenues grew 2% to Rs 1,758 crore compared to the June 2014 quarter. Overall revenues were up 3% to Rs 2,930 crore with reimbursements registering a five per cent growth sequentially. This is in line with consensus estimates of Rs 2,922 crore.
Thomas Cook (India) ltd. will be in focus after winning India's Leading Tour Operator at World Travel Awards 2014.
