Trading cues for today

Here is a list of few things you should know before the opening bell, including the stocks to watch out for today.

The Indian markets are likely to open on a strong note following positive global cues. However, the sentiment during the day is likely to be driven by the September 2011 quarter results of India Inc.

Global stocks and the euro rallied on Friday over growing optimism that Europe is on track to resolve its festering sovereign debt crisis and after data showed a surprising surge in US retail sales.

The benchmark S&P 500 posted back-to-back weekly gains for the first time since early July while the euro headed for its best week in nine months against the US dollar and gold marked its biggest weekly rise in six weeks.

For the week, the Dow gained 4.9 per cent, the S&P 500 jumped 6 per cent and the Nasdaq shot up 7.6 per cent. The Indian markets clocked the best weekly gains in six weeks, up 5 per cent, buoyed by rally in the IT shares after Infosys reported better than expected results.

Back in Asia on Monday, most markets gained ground in early deals with Nikkei and the Hang Seng surging over 1 per cent each. At 730 am Indian Standard Time, the SGX Nifty was trading at 5,160, up 18.5 points.

STOCKS TO WATCH

Among individual stocks, Reliance Industries will be in focus today after the company saw its net profit jump 16 per cent to 5,703 crore during the September 2011 quarter, as higher earnings from oil refining and petrochemicals business helped it offset a dip in natural gas production.

Even as the logjam at Maruti's Manesar plant continues, another strike has commenced at solar panel and CD-maker Moser Baer's Noida unit, where workers are demanding a revision in wages and bonuses. The development could see the stock drift lower.

Videocon Industries could also be in focus after the company secured its shareholders' approval to make investments, provide securities and extend guarantees and inter-corporate loans up to 25,000 crore.

Also watch out for TCS, HDFC, ING Vysya Bank, MindTree and Zee Entertainment as these companies will announce their September 2011 quarter later in the day.