Markets are likely to open on a flat note tracking the mixed trends in their Asian peers
Benchmark indices are likely to open on a flat note tracking the mixed trends in their Asian peers. Some volatility in rate-sensitive stocks may be expected as RBI has maintained status-quo on key rates.
At 8:25AM, the early indicator SGX Nifty was flat at 8,566.
HSBC India Services PMI for November 2014 is due on Wednesday. Adjusted for seasonal factors, the headline HSBC India Services PMI Business Activity Index fell to 50 in October, from 51.6 in September.
Meanwhile, foreign institutional investors were net buyers in Indian equities worth Rs 107 crore on Tuesday, as per provisional stock exchange data.
Asian markets have gained on a rebound in crude oil prices. Japan’s Nikkei share average rose
to a more than seven-year high on Wednesday as the dollar hit a fresh seven-year high against the
yen. Nikkei is trading with more than 1% of gains.
Chinese shares are gaining in opening deals. Shanghai Composite and Hang Seng indices are gaining 1.7% and 0.5% each.
Led by gains in energy and auto shares, the Dow Jones industrial average closed at a record high with a 0.5% gain. The S&P 500 and Nasdaq Composite gained 0.6% each.
Stocks to watch
ICICI Bank will be in focus as the stock turns ex-stock split tomorrow.
Tata Motors may see fresh buying on news that its prized acquisition Jaguar Land Rover has started to build a plant in Brazil.
JSW Energy will be in focus on news reports that the company is in the process of acquiring the Bina and Nigrie assets of JP Power.
JSW Steel may come under pressure after shelving Rs 35,000 crore West Bengal steel plant.
Jet Airways will be in focus after