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Markets are likely to open in the negative territory tracking weakness in the global peers. However, market participants are likely to remain cautious ahead of a meeting of euro area finance ministers on Wednesday to renegotiate Greece’s bailout package.
Meanwhile, investors, who had feared a victory for the anti-establishment party would further spook the markets, took AAP’s victory in their stride. Analysts said defeat in the Delhi polls would spur the central government to boost capital spending and announce a reform-oriented Budget later this month.
GLOBAL MARKETS:
Asian stock markets were subdued on Wednesday while major currencies barely budged as looming euro zone meetings to discuss the Greek debt crisis overshadowed a firmer finish on Wall Street.
Shares in Shanghai edged up 0.2 percent as pressure grew for more stimulus after a very low reading on inflation stirred fears of deflation.
China's central bank on Tuesday said it was ready to fight a downturn, while not taking excessive risks with credit creation.
The Dow had ended up 0.79 percent, while the S&P 500 gained 1.07 percent and the Nasdaq 1.3 percent.
The arly indicatror, SGX Nifty is down 7 points at 8,620.50.
STOCKS TO WATCH:
Ministry of Defencehas selected two consortia from the dozen companies invited to bid in November 2013. One is a consortium between Larsen & Toubro (L&T) and Tata Power, and the other between Rolta and Bharat Electronics Ltd (BEL). These winners - termed development agencies - could be announced any day.
Shares of car companies are likely to remain in focus after the Society of Indian Automobile Manufacturers (SIAM) expects passenger vehicle sales to rise three to five per cent in 2014-15, up from its earlier projection of one-two per cent, on improved consumer sentiment over the past few months.
Suzlon Energy, the Tulsi Tanti-promoted wind energy turbine maker, is in talks with billionaire Dilip Shanghvi's son, Aalok Shanghvi, for a possible merger or stake purchase with the latter's company, PV Powertech, which makes solar energy panels.
Adani Enterprises is planning to set up a solar power facility of 10,000 megawatt (Mw) in a joint venture with state-run Rajasthan Renewable Energy Corporation.
Aiming to reduce its debt, the country’s largest real estate player DLF plans to raise Rs 3,000 crore through divestment or joint ventures in certain projects.
United Bank of India (UBI) on Tuesday said it earned a net profit of Rs 42 crore in the October-December quarter, compared to a net loss of Rs 1,238 crore in the corresponding period of last year. Lower provisions, rise in non-interest income and cost control aided the bank's earnings during the three-month period.
Oil marketing companies are likely to hog limelight after Citigroup said in a report that the recent surge in crude oil prices is just a "head-fake," and oil as cheap as $20 a barrel may soon be on the way, as it lowered its forecast for crude oil.
Two-wheeler major TVS Motors will launch two new motorbikes during the the first two quarters of the financial year 2015-16.
Essar Group firm AGC Networks reported a net loss of Rs 3.55 crore for thethird quarter ended December 31, 2014 compared to loss of Rs 89.63crore in the same quarter last year.
