Firm opening seen as global stocks shine on Fed stance

Asian stocks are gining mirroring positive closing on Wall Street boosted by dovish signals from the US FedReserve minutes

Markets are likely to open on a firm note following strength in the global peers after release of the minutes from the last Federal Reserve meeting indicated that the Fed is was unsettled by signs of a global economic slowdown and its impact on the US economy which in turn boosted the trading sentiments.

STOCKS TO WATCH

Some natural gas from the fields of ONGC in the Bay of Bengal may have flown out through the adjoining, connected KG-D6 fields of RIL quoting US consultant DeGolyer and MacNaughton’s (D&M) preliminary observations.

Reserve Bank has put Shyam Telecom under the caution list and said further buying of equity shares of the company by NRIs would be permitted only after its approval. 

Banks and Housing Finace companies are likely to hog limelight after RBI eased risk weights on loans of up to Rs 75 lakh, provided the borrower brings in a bigger contribution towards financing the property. 

Many companies including Power Grid, Sterlite and Adani have qualified on technical grounds for submitting financial bids for power transmission project Vemagiri II, worth approximately Rs 6,300 crore. 

Rajesh Exports secured an export order worth Rs 1,360 crore for gold and diamond studded jewellery and medallions from the UAE. 

Hindalco is likely to remain in focus. Alcoa's third-quarter revenue slipped to $5.6 billion, a shapr decline of 21% mainly due to closures of non-competitive facilities. The impact of Alcoa's earnings highlights revenue visibility for Hindalco's Novelis unit.

K P Singh and his family, promoters of India’s largest real estate company, DLF, will sell their 40 per cent stake in the company’s rental arm, DLF Cyber City Developers Ltd (DCCDL), to institutional investors. The stake is estimated to be worth Rs 12,000-14,000 crore.

GLOBAL STOCKS

Asian stocks are trading firm mirroring a positive trend on Wall Street overnight boosted by dovish signals from the US Federal Reserve minutes. Japan's Nikkei is up 0.8%, China’s Shanghai Composite gained 0.6% and Hang Seng climbed 1.6%. 

US stocks closed higher after Federal Reserve’s latest meeting indicated that the Fed is was unsettled by signs of a global economic slowdown and its impact on the US economy. Meanwhile, a sharp rise in the crude oil prices boosted the sentiments.