The Indian markets may see a green opening buoyed by the positive Asian markets and the US markets which rallied to its three year highs on the back of a fresh batch of corporate results renewing optimism that profit growth will remain resilient enough to keep equities on the rise. Also, intra-day volatility can’t be ruled out as traders’ rollover positions in the futures & options (F&O) segment ahead of the expiry of the near-month April 2011 contracts tomorrow. The SGX Nifty is trading up 35 points at 5,910.
The international markets are all perked up to US Federal Reserve's policy statement with regards to quantitative easing. Back home, the activity will be mainly stock specific as the companies declare their quarterly earnings. There may be some activity in the IT space today as almost all the major companies have reported their earnings for the season. Wipro, which released its results today in the pre market hours, came with good numbers as compared to Infosys. The company’s Q4 consolidated net profit is up 4.3% at Rs 1,375 cr.
On the Asian front,Nikkei surged 1.3% lifted by gains technology and electronic shares.Hang Seng also shot up 0.6% as investors bought property developers. Also Shanghai Composite index was up 0.4%. South Korea's Kospi Composite was up 0.2%, Singapore's Strait Times edged up 0.6% and Taiwan's weighted index climbed 1.2%.
HCL Infosystems, Patni Computer, Abbott India, Castrol India, Exide Industries and United Breweries are expected to declare their Q4 results today.
