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Benchmark share indices are likely to open higher amid a rally in global markets while investors also look forward to Infosys Q2 earnings and guidance
At 8:10AM Indian Standard Time the SGX Nifty was up 69 points at 6,140.
Key US share indices jumped over 2% on Thursday on indications that US lawmakers would soon come to an agreement to raise the debt limit and avoid a default.
The Dow Jones industrial average ended up 323 points, or 2.2%, to end at 15,126. The
Standard & Poor's 500 Index closed 36 points, or 2.2% higher, at 1,693. The tech-laden Nasdaq Composite Index jumped 83 points or 2.3%, to end the session at 3,761.
European stocks rallied on Thursday on hopes that the US federal government shutdown would end soon and that a deal between US lawmakers would raise the debt ceiling. The CAC-40 jumped 2.2%, DAX gained 2% while the FTSE-100 closed 1.5% higher.
STOCKS TO WATCH
Infosys will kick off the results season with its second quarter earnings. The Q2 earnings and guidance would dictate the market trend in early trades.
Ranbaxy may see some action after it's US factory, Ohm Laboratories, is learnt to have got a clean chit from the American regulator. This US facility was under surveillance of the Food and Drug Administration (FDA) since the end of 2012.
Glenmark Generics, the US subisidary of Glenmark, has filed a lawsuit in a US court to enforce its exclusive royalty-bearing licence agreement. According to a statement issued on Thursday, Glenmark filed a lawsuit against Triax Pharmaceuticals, Astellas Pharma Europe BV and Astellas Pharma International BV in the Court of Chancery of the State of Delaware.
In a sign of increasing Indian involvement in Venezuela, the South American country’s state oil company, Petroleos de Venezuela (PdVSA), has signed two agreements with state-run ONGC Videsh Ltd (OVL) and private sector giant Reliance Industries Ltd (RIL).
Indiabulls Securities Ltd in a filing to the BSE said that it's Board of Directors of the Company will meet on October 21, 2013, inter alia, to consider and approve, the un-audited Financial Results of the Company for the quarter ended September 30, 2013 and to consider declaration of second interim dividend.
