Flat-to-positive opening expected; IIP data in focus

Investors will eye the Industrial production (IIP) data for the month of July due to be released later today

Markets are likely to witness a flat-to-positive opening mirroring mixed Asian cues and a positive opening at the Wall Street. Meanwhile, investors are likely to remain cautious ahead of the next week's US Federal Reserve meet on interest rate and the index of industrial production (IIP) data for the month of July due to be released later today.

GLOBAL MARKET

Asian shares are trading mixed with China's Shaghai Composite trading higher by 0.7% following to gains on Wall Street. However, investors remain wary ahead of the US Fed meet next week as the US data offered no clarity on whether the Federal Reserve might raise interest rates or not.

US stocks ended with modest gains as the uncertainty about the Fed’s decision on interest rates at its two-day policy meeting next Wednesday keeps invetors on their toes.

STOCKS ON THE RADAR

Mahindra Lifespaces signed a pact to set up an industrial park in Chennai in collaboration with Japan's Sumitomo Corporation for an amount of  Rs 400 crore. 

BPCL has decided to invest Rs 1 lakh crore between 2016 and 2021 for its next phase of growth, as lower crude oil prices and reduced losses on fuel sales give the company more room for business expansion. 

ONGC and RIL are likely to remain in focus after Delhi high court disposed of a petition filed by ONGC alleging that Reliance Industries had been drawing gas from its hydrocarbon block in the Krishna-Godavari basin. 

Auto stocks are likely to remain in focus after Sales of cars in August grew six per cent over the same month last year, according to data released by the Society of Indian Automobile Manufacturers (Siam) on Thursday. Sales of passenger vehicles (cars, utility vehicles and vans) grew four per cent in August over the same month last year, even as the sequential growth compared to July remained flat in spite of the two new launches in August.

L&T is likely to remain in action after shareholders approved raising of about Rs 9,600 crore through issuance of various securities, including equity shares and convertible bonds late Thursday.

Steel stocks are likely to remain in focus on talks of a further raise in the import duty on steel. 

Capital goods majors, BHEL and L&T are likely to remain in focus ahead of the IIP data due to be released later today.