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Markets are expected to open on a flat note tracking similar trend in Asian shares.
Global risk appetite was firm after the Group of 20 nations accepted that the Japan's $1.4 trillion stimulus program is aimed at beat deflation rather than at weakening the yen.
At 7:10AM IST, SGX Nifty traded up 14 points at 5648.00.
Asian shares traded higher on back of overnight rebound in US stocks and after G20's actions removed any remaining obstacles to further yen weakness.
MSCI's world equity index added 0.4 percent
In commodity markets, gold rebounded from its sharp selloff last week, though sentiment remained shaky after the precious metal posted its biggest-ever daily loss in dollar terms last Monday.
Among the key Asian indices, China’s Shanghai Composite Index flat at 2,242.78, Hong Kong’s Hang Seng gained 0.1 % to 22,044, Singapore’s Straits Times was up 0.5% at 3,308 while Japan’s Nikkei was down 0.05% to 13, 562 in the opening deals.
Overnight, US stocks rallied on back of improved risk-appetite amid reports that ValueAct Capital had taken a $2 billion stake in the Microsoft company.
The Dow Jones industrial average rose 19.66 points, or 0.14 percent, to 14,567.17 at the close. The Standard & Poor's 500 Index gained 7.25 points, or 0.47 percent, to 1,562.50. The Nasdaq Composite Index advanced 27.50 points, or 0.86 percent, to close at 3,233.55.
Domestically, in the earnings calendar, we have AP Paper and HDFC Bank which are slated to announce their fourth quarter performances today.
Following stocks are expected to move on the exchanges today:
Coal India may move the government on Monday shelved a proposal to this effect after a consensus on the likely impact on tariff could not be reached.
The Cabinet Committee on Investment (CCI) on Monday cleared 25 of the 31 oil and gas blocks that were held up for want of clearances. The committee, headed by Prime Minister Manmohan Singh, also cleared 13 power projects, freeing up stalled investment of around Rs 33,000 crore.
GMR Infrastructure is learnt to have filed qualification documents for a formal bid to develop 17.5-billion peso ($425 million) Mactan-Cebu International Airport project in the Philippines.
Indian carriers, led by Jet Airways, have asked for 55,191 weekly seats to Abu Dhabi till 2015-16, a four-fold rise over the present arrangement.
Pushed by an increase in production, Cairn India Ltd posted a 17 per cent rise in net profit at Rs 2,563 crore during the fourth quarter of FY13, compared to Rs 2,186 crore during the same period in FY12.
