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India's benchmark share indices are likely to open marginally higher on positive cues from Asia.
Stocks in Asia were trading higher on Monday with Japan's Nikkei gaining the most. The Nikkei gained nearly 1% while Straits Times and Hang Seng were up 0.2% each.
At 7:10AM Indian Standard Time the SGX Nifty was up 27 points at 6,176.
Stocks on Wall Street ended with marginal gains on Friday surging to 5-year highs boosted by technology shares such as Microsoft on the back of robust third quarter earnings and Amazon which posted 24% sales growth beating street expectations while the S&P 500 ended at a record high.
The Dow Jones industrial average ended up 61 points, or 0.4%, to end at 15,570.28. The Standard & Poor's 500 Index closed 8 points, or 0.4% higher, at 1,759.77. The Nasdaq Composite Index edged up 14 points or 0,4%, to end the session at 3,943.36.
Key European shares also ended flat on Friday weighed down by selling pressure in telecom and industrial companies. Telecom Italia ended lower on talk that the company which is riddled with huge debt plans to hike capital. Volvo, the world's second largest maker of trucks, registered a sharp drop in profits for the quarter ended September 30, 2013.
The CAC-40 slipped 3 points to end at 4,272.31, the DAX rose 5 points to end at 8,985.74 while the FTSE-100 ended 8 points higher at 6,721.34
STOCKS TO WATCH
Federal Bank may witness pressure after the bank on Friday clarified that no formal approval has been received from FIPB on foreign investment in the Bank as per reports on Thursday.
Colgate Palmolive India may witness profit taking after the FMCG major posted a 24.51% decline in net profit at Rs 109.52 crore for the second quarter ended September 30, 2013.
The company had posted a net profit of Rs 145.08 crore for the same period of previous fiscal, Colgate Palmolive India said in a filing to the BSE.
Kishore Biyani-led Pantaloons Fashions and Retail Ltd may witness pressure after the retail major reported net loss of Rs 43.5 crore for the second quarter ended September 30, 2013 due to higher expenses and decline in other income. The company had reported net loss of Rs 10.79 crore in the corresponding quarter a year ago, the company said in a filing to the BSE.
GAIL India may extend losses after it reported 7% drop in net profit of Rs 916 crore for the quarter ended September 30, 2013 as compared to Rs 985 crore for the quarter ended September 30, 2012 on account of losses in the cooking gas (LPG) business.
Essar Oil is likely to be under pressure after the oil refining major posted a loss of Rs 71 crore for quarter ending September 2013. Lower global refining margins dented the profitability of the largest private sector fuel retailer. It had posted Rs 150 crore profit in the same quarter last year.
JSW Energy may witness pressure after it reported a second quarter net profit of Rs 162.5 crore, a drop of 56 per cent from Rs 254 crore in the same quarter last year. The company attributed this to the Rs 167.5 crore forex hit it had to take for the import of coal.
FMCG major Hindustan Unilever may firm up after the FMCG major beat street expectations recording 9.6 per cent growth in net sales to Rs 6,747.2 crore, while net profit was up 13.2 per cent to Rs 913.8 crore for Jul-Sep quarter.
