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Pre-market: Volatility seen ahead of Aug F&O expiry

Markets are likely to open marginally higher amid firm global cues. Further, markets are likely to remain volatile in the latter half of the trading session with expiry of August derivative contracts today.

At 8:30AM, the SGX Nifty, early indicator of the market trend, was up by 18 points at 7,955.

US stocks ended mixed on Wednesday with trading activity seen in retailer stocks post their earnings annoucement. Tiffany & Co ended higher after the retailer reported better-than-expected revenue. Meanwhile, S&P 500 held on to the 2,000 mark to end at a new record closing high of 2,000.12. The global benchmark Dow Jones gained 0.1% at 17,122.01 while the tech-laden Nasdaq ended tad lower by 0.02% at 4,569.62.

European shares ended mixed on Wednesday . The CAC-40 ended flat with positive bias up 0.04%, DAX lost 0.2% and FTSE-100 ended up 0.1%.

Asian shares were trading firm tracking overnight cues from Wall Street. However, Japanese shares were trading marginally lower. The benchmark Nikkei was trading 0.5% lower. China’s Shanghai Composite was up 0.05% while Hang Seng and Straits Times gained 0.4% each.

STOCKS TO WATCH

DLF will continue to be under pressure after the Supreme Court on Wednesday directed DLF, the country’s largest real estate player, to deposit Rs 630 crore in the registry within three months.

Rail-related shares will be in focus after the government on Wednesday opened the railways for private and foreign investments in select areas – high-speed train, suburban corridors and dedicated freight lines. Foreign investment would also be allowed in construction and maintenance of these lines and rolling stock manufacturing facilities, electrification and signalling.

Piramal Enterprises is rejigging its research and development (R&D) activities with a focus on molecules that are at an advanced stage of development. The company will no longer be working on molecules at the discovery stage.

Ranbaxy will be in action after the Company said it has received direction vide letter dated August 27, 2014 under Section 29(2) of the Competition Act, 2002 from the Competition Commission of India(CCI) directing the Company to publish the details of the proposed combination in the prescribed format within 10 working days from the date of the said letter of the CCI.

Financial Technologies will be in focus after the Company has further sold balance 5% equity shares of MCX in the market. The company also said that post the above selling and subject to unlocking of balance shares by MCX to complete the condition precedent of Share Purchase Agreement (SPA), the Company holds NIL shares in MCX.

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