Gap-up opening expected as world stocks shine

The early indicator SGX Nifty has climbed 1.4% or 112 points to quote at 7,848.50

Markets are likely to experience a gap up opening mirroring strength in the world stocks as investors cheer rally in Wall Street and European markets on the back of firm German economic data.

Asian equities are also trading higher on stimulus hopes after China imports plunged amid a strong rally in Wall Street that further buoyed the trading sentiments.

STOCKS TO WATCH

Hindustan Unilever Ltd (HUL), FMCG major, is set to offload the bread and bakery business to private equity major Everstone.

The US has cleared India's top two software exporters Tata Consultancy Services and Infosys of charges of visa violation after a probe into an outsourcing contract involving utility firm Southern California Edison. 

Indiabulls Housing Finance is planning to raise up to $600 million by offering equity to institutional investors through qualified institutional placement (QIP).

JSW Energy and Jaiprakash Power Ventures have entered into a binding memorandum of understanding (MoU) to acquire 100 per cent stake in the 500 megawatt (Mw) Bina thermal power plant located in Madhya Pradesh. 

GVK Power & Infrastructure's promoter G V Sanjay Reddy transferred shares worth over Rs 57 crore to another promoter group entity Vertex Projects LLP. 

Tara Jewels secured an order worth Rs 53.4 crore from Walmart USA for supply of diamond-studded jewellery. 

GLOBAL MARKETS

Asian equities are also trading higher on stimulus hopes after China imports plunged amid a strong rally in Wall Street that further buoyed the trading sentiments. Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng surged between 2-6%.

European stocks also surged on upbeat German economic data indicating that Germany's imports and exports hit record highs in value terms in July. FTSE 100, CAC 40 and DAX soared between 1-2%.

After returning from a long weekend, Wall Street staged a smart recovery taking its cues from a late-day surge in Chinese equities on Tuesday. Dow Jones and Nasdaq climbed over 2.5% each.