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| Pre-market: Gap up opening seen |
| SI Reporter / Mumbai Dec 30, 2011, 08:14 IST |
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The Indian markets are likely to see a positive start today, which also is the last trading day for the calendar year 2011, tracking global cues.
US stocks rallied about a per cent on Thursday as data signalled positive trends for the economy, but gold prices fell for a fourth consecutive session as investors constrained by tight liquidity resulting from the euro-zone debt crisis were forced to sell.
The euro initially slid to a 15-month low against the U.S. dollar after a key Italian debt auction failed to ease concerns about the crisis. It erased losses later.
The Dow Jones industrial average closed higher 135.63 points, or 1.12 per cent, at 12,287.04. The Standard-and-Poor's 500 Index rose 13.38 points, or 1.07 per cent, to 1,263.02.
Japan's benchmark Nikkei average opened up 0.43 per cent at 8,434.90 on Friday, while the broader Topix gained 0.31 per cent to 724.39.
Back home, technical analysts suggest that if the Nifty slips below 4,630 levels, it may then find support at 4,570 levels. The SGX Nifty was trading at 4,707 levels, up 38 points, or one per cent.
Among individual stocks, IDBI Bank could be in focus today on reports that the government is considering capital support to the bank to boost its capital.
GTL Infra could also be in limelight on reports of rejiging top management.
The US health regulator has granted approval to Lupin to market generic Fenofibrate tablets, a cholesterol lowering drug, in the American market. This could bring the stock back in focus today.
Also watch out for Fortis Healthcare. Citigroup Global Markets Mauritius Pvt Ltd has sold 25.55 lakh shares of the hospital chain in the stock market for 22 crore.
Godrej Properties could also be in limelight today. The company has raised 45 crore by selling 49 per cent stake in its arm to private equity firm Sun Apollo.
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