The Indian markets are likely to kick-start the weak on a positive note taking cues from their global peers. The Nikkei average climbed almost 2% on Monday, helped by climbs in US stock futures and by a report that the International Monetary Fund was considering support for Italy as bond yields across the euro zone spiked to new highs. The Singapore Nifty futures are at 4,768, up 61 points.
MSCI's broadest index of Asia Pacific shares outside Japan rose 1.6%, after slumping to its lowest level since early October on Friday to mark a fourth consecutive week of declines. The Shanghai Composite and Hang Seng indices have also advance nearly 1-2% each.
Last week on Friday, markets ended near the day's lows after a volatile trading session as foreign institutional investors remained sellers tracking weakness in Europe and Asia. The BSE benchmark index dropped once again to a low of 15,645 and finally ended at 15,695 - down 163 points. Nifty ended down 46 points at 4,710.
For the week ended November 25, the Sensex and the Nifty were both down nearly 4% each.
Among individual stocks, Dhanlaxmi Bank will be in focus today after Fitch lowered the bank’s rating outlook to 'stable' from 'positive', citing unlikely improvement in its credit profile in the medium term.
Bharti Enterprises and Reliance Industries could also be in limelight after both companies terminated talks for the stake sale in Bharti AXA insurance company.
Oil marketing companies will also be in focus on reports that petrol prices are likely to be cut by up to 1 per litre this week, thanks to the declining trend in international prices.
Auto stocks are to be watched as the carmakers plan to increase prices by up to Rs 10,000 for small cars and up to Rs 25,000 for sedans to offset the impact of weakening rupee in import costs despite the recent slump in sales.
Watch SKS Microfinance, the only listed microfinance company. After, its latest attempt to virtually wipe out microfinance institutions from the state, the Andhra Pradesh government has decided to introduce interest free loans for women in Self help groups, with an outlay of Rs14 billion from next financial year.
DLF Brands plans to launch multi-brand retail stores to sell international fashion labels under one roof, with plans to open up to five such stores every year.
Also keep a tab on Escorts and Triveni Engineering as they declare their respective September 2011 quarter results today.
