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Pre-Market: Markets may extend gains on firm global cues

The markets are likely to open in the positive territory tracking firm global cues. In addition, sentiments of the market participants are liley to boost on reports of easing tensions between Ukraine and Russia.

Asian stocks got a lift on Tuesday from an upbeat day on Wall Street, while the dollar got some help as U.S. Treasury yields pulled away from recent lows on upbeat U.S. housing data and hopes of progress in the Ukraine crisis.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 percent in early trade, while Japan’s Nikkei stock average added 0.8 percent. In addition, SGX Nifty is quoting at 7,899.00 up by 27 points or 0.3%.

U.S. stocks marked solid gains on Monday as the Ukraine situation showed signs of stabilization. The Nasdaq Composite topped the key 4,500 mark for the first time since March 2000.

Stocks to watch:

Heading towards a goal of 40 million tonnes a year capacity, JSW Steel announced a deal with Welspun Enterprise to acquire all of Welspun Maxsteel for Rs 1,000 crore.

Tata Power is raising $ 560 million (Rs 3,360 crore) from the international market to refinance old debts due in the next few months.

Bajaj Group has exited Force Motors through a series of share sales, cashing in on an 83% appreciation in the stock in three months.

After buying out the Dhamra port from L&T and the Tatas in a deal valued at Rs 5,500 crore, Gautam Adani controlled Adani Group is all set to start work on the port’s second phase expansion that will ramp up its capacity to 100 million tonne per annum.

After buying assets worth Rs 4,600 crore in the year’s first quarter, JM Financial Asset Reconstruction Company is readying for its next round of growth.

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