Benchmark share indices are likely to open with marginal gains on Monday tracking firm gains in Asia and rally in US stocks on Friday.
At 8:30AM, the early indicator SGX Nifty was up 27 points at 8,299.
Foreign institutional investors were net buyers in Indian equities to the tune of Rs 40 crore.
US stocks surged on Friday with the Dow Jones and the broader S&P 500 ended at fresh record closing highs led by across-the-board buying. The Dow Jones ended up 23 points at 18,054, the broader S&P 500 ended up 7 points at 2,089 and the tech-laden Nasdaq ended up 34 points at 4,807.
Asian stocks firmed up tracking rally in US stocks on Friday. In Japan, large-cap stocks were in focus while exporters shares were also in focus on the back of a weaker yen. The benchmark Nikkei was up 0.2%. Shanghai Composite and Hang Seng were up nearly 2% while Straits Times was up 0.3%.
Stocks in Focus
RIL will be in focus after the company said it has planned turnaround at its Nagothane manufacturing site. The cracker and some of the downstream units will be shut for approximately four weeks, starting around mid-January 2015.
Glenmark Pharma will see some action on reports that the company plant to outlicence its molecule for pain management.
Jindal Stainless will be in focus ahead of the board meet later today to consider & approve a Scheme on “Asset Monetization and Business Reorganization Plan” (AMP) of the Company.
Jindal Poly Films may see some action ahead of the board meet to discuss and approve a Scheme of Arrangement between the Company (Jindal Poly Films Limited) and Jindal Photo Limited.
BHEL is likely to see some activity amid media reports that the PSU engineering major is eyeing opportunities in Mozambique and Laos.
Oil exploration majors Cairn and ONGC could see some action amid media reports that both to develop and produce gas from the Barmer block in Rajasthan.
United Bank of India may see some pressure after The Calcutta High Court has dismissed bank’s decision to declare his grounded Kingfisher Airlines a wilful defaulter.