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Markets may open flat; Infosys, SBI, Bajaj Auto in focus

Markets are likely to open flat tracking the mixed trends in their Asian peers. However, markets may edge higher later in the session on the boost generated by the better-than-expected US jobs data.

At 8:30AM, the early indicator SGX Nifty was flat points at 8,578.

Traders will watch the proceedings of the winter session of parliament for cues. Some progress on reform-centric legislative proposals is expected.

Key macro-economic data, wholesale and consumer price inflation data for November 2014 and industrial output data for October 2014 is scheduled to be released on Friday.

Meanwhile, foreign institutional investors were net sellers in Indian equities worth Rs 109.45 crore on Friday, as per provisional stock exchange data

Nikkei is trading flat after opening with gains of around 0.3%. Strong US jobs data and dollar notching fresh seven-year highs against the yen on Monday boosted Japanese shares.

Hang Seng and Shanghai Coposite indices are trading with gains of 0.5% and 0.8% each.

On Friday, US markets closed higher on better-than-expected nonfarm payroll data. US economy added 325,000 new jobs in the month of November which boosted the sentiments. The Dow Jones industrial average rose 0.3% to 17,959, the S&P 500 rose 0.1% to 2,075.37 and the Nasdaq Composite gained 0.2% to 4,780.76.

Stocks to Watch

Infosys will be in focus as four of its founders are going to raise around $ 1.1 billion by selling their stakes in the company, according to media reports.

SBI will be in focus on plans to raise $ 300 million by way of issuing bonds. The proceeds are planned to be used for general corporate purposes.

Bajaj Auto is in news on reports that the company is looking to raise prices of its two models – Platina and Discover – from next month in order to partially offset increase in input costs.

Jubilant Foodworks may come under pressure as its promoter group entity Weston Investment Ltd has reduced its stake in the company by 2.44 per cent by selling 15.97 lakh shares in the open market.

Spicejet will be in focus as its board meets today to come up with plans to recapitalise the troubled airline.


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