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Markets likely to open positive on firm global cues

Markets are likely to make a positive opening tracking firm global cues. The early indicator, SGX Nifty was higher by 5 points at 7,912 at 0830 hrs.

US stocks ended higher on Thursday, with the S&P 500 at a record after a flurry of positive economic data, as investors hoped for signs from an annual meeting of central bankers that interest-rate hikes are not imminent.

The S&P 500 broke two records during Thursday’s session, climbing past its previous intraday all-time high of 1,991.39 and ending above its previous record close of 1,987.98. Both had been set on July 24. Investors are anticipating that the benchmark index will touch the 2,000 level, which it has yet to breach.

Asian shares rose in early trading on Friday, after upbeat U.S. data sparked another record close on Wall Street.

U.S. home resales rose to a 10-month high in July, factory activity in the mid-Atlantic region hit its highest level since March 2011 in August, and a gauge of future economic activity grew solidly last month.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1% in early trading, on track for a weekly gain of 0.4 percent. Japan’s Nikkei stock average added 0.2%, poised for a robust 1.9% weekly rise.

STOCKS TO WATCH

Promoters of no-frills airline SpiceJet will make a fresh infusion in the cash-strapped airline. Board approves increase in authorised share capital to Rs 1,500 crore from Rs 1,000 crore

Axis Bank-country’s third largest private sector bank-has now joined the bandwagon of lenders that will be raising money via long term bonds.

Tata Motors is eyeing to capture more market share in the compact sedan market, following the launch of its latest product “Zest”, according to a top company official.

MRF group buys Ashok Leyland’s Chennai Property in boat club.

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