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Indian stocks are likely to open higher tracking rebound in global markets. The wholesale prices-based inflation data for May scheduled later in the day will gain attention as it will help determine the stance of Reserve Bank of India's monetary policy review on Monday.
Stock on Wall Street rebounded on Thursday amid better-than-expected economic data. The Dow Jones, S&P 500 and Nasdaq ended up over 1.2 per cent each.
Asian markets were trading higher tracking gains on Wall Street with Japan’s Nikkei up 1.9 per cent.
At 8:30 hrs Indian Standard Time the SGX Nifty was up 41 points at 5,736.
According to technical experts, the pivot point for Nifty is 5,700, sustained trade below 5,700 can trigger a fall to 5,630-level, whereas on the upside the index can spurt to 5,760. On Friday, Nifty is likely to seek support around 5,680-5,670, while face resistance around 5,715-5,730.
Unilever has got SEBI approval for buyback of Hindustan Unilever shares.
All the workers’ unions of Coal India are threatening to go on an indefinite strike on the government’s proposal to sell 10 per cent stake in the company.
Apollo Tyres will remain in focus on concerns over debt burden due to Cooper buy.
Sebi investigation found that Zylog Systems, its promoters and directors allegedly made “false, misleading and distorted disclosures repeatedly” and failed to make requisite disclosures under the Takeover Regulations.
Fitch Ratings has revised the outlooks on PSUs -- GAIL, IOC, BPCL, PGCIL, NTPC, NHPC and SAIL -- " to Stable from Negative and affirmed the ratings".
Infosys’ US arm has secured a three year managed services contract from CareFirst BlueCross BlueShield.
NSE said it will suspend trading in securities of K S Oils and Abhishek Corporation for their failure to comply with provisions of listing agreement.
